PURA Announces $1.2 Million Sales Contract Adding To Existing Cannabis Extraction Business With Expansion Potential to $16 M
July 11 2017 - 9:00AM
InvestorsHub NewsWire
Dallas, TX - July 11, 2017
- InvestorsHub NewsWire - Puration, Inc. (USOTC:
PURA) today announced a $1.2 million sales contract.
The sales contract comes in conjunction with PURA’s recently
announced letter of intent (LOI)
agreement to acquire a twenty-five greenhouse grow
operation. The sales contract calls for a wholesale purchase
of all PURA’s production from the 25-greenhouse operation up to
$100,000 per month. The acquisition under LOI is expected to
close before the end of this month and include expansion terms that
could lead to the addition of another 400 irrigated greenhouse pads
ready for buildout.
Potential For Expansion To $16 Million In Annual Sales And
Beyond
The $1.2 million sales contract will be fulfilled from the
production coming from the operation of the 25 greenhouses
currently under LOI. The operations under LOI have
historically grown and sold traditional greenhouse flowers for use
in residential landscaping. The original nursery operation
had a long history that includes contracts with Lowes (NYSE:
LOW) and Home Depot (NYSE:
HD). Puration plans to use proceeds from the traditional
nursery operation to expand the operation into its full 400
greenhouse potential. The operation is located in a regions
of East Texas well known for nursery operations. Texas has
recently legalized medical marijuana and is pending the issuance of
its first licenses. Puration intends to transition to marijuana
growing overtime in conjunction with the legalization
process. In the meantime, Puration anticipates the
traditional nursery operations have the potential to expand to as
high as $16 million in annual sales. Medical Marijuana sales
can be substantially higher. Puration plans to develop
its own proprietary strains of Hemp and Marijuana within the
acquired greenhouse operation in order to enhance the Company’s
existing extraction business.
Puration’s U.S. Patented Cannabis Extraction
Process
Puration has a U.S. Patented Cannabis Extraction process licensed
from NCM Biotech. The license of the process to Puration is
the first and only license NCM Biotech has executed. R&D
with NCM Biotech’s patented process has demonstrated a high
potential for bringing FDA approved pharmaceutical products to
market for the treatment of multiple neurological disorders and
cancer. NCM Biotech’s medical advisory team includes John
N. Gaitanis, MD., Director of Child Neurology at Tufts Medical
Center/Floating Hospital for Children; Lloyd R. Saberski, M.D.,
Associate Professor of Anesthesiology and Chronic Pain Management,
Yale University, and John McMichael, Ph.D., President & CEO
Beech Tree Labs.
Puration’s NCM Biotech Extractions Compared To GW
Pharmaceutical (NASDAQ:
GWPH)
“I have received doctor feedback from more than one of our research
initiatives that extracts coming from NCM Biotech’s patented
process are superior in purity and quality to any other available
cannabis extracts,” said Frederick Ferri, CEO and Founder of NCM
Biotech. “Some feedback has specifically indicated that a number of
our candidate pharmaceutical products under development have a
greater efficacy potential than GW
Pharmaceutical products and candidate products.”
Learn More About PURA:
purationinc.com
Disclaimer/Safe Harbor: This news release contains forward-looking
statements within the meaning of the Securities Litigation Reform
Act. The statements reflect the Company's current views with
respect to future events that involve risks and uncertainties.
Among others, these risks include the expectation that any of the
companies mentioned herein will achieve significant sales, the
failure to meet schedule or performance requirements of the
companies’ contracts, the companies’ liquidity position, the
companies’ ability to obtain new contracts, the emergence of
competitors with greater financial resources and the impact of
competitive pricing. In the light of these uncertainties, the
forward-looking events referred to in this release might not occur.
These statements have not been evaluated by the Food and Drug
Administration. These products are not intended to diagnose, treat,
cure or prevent any disease.
Puration Contact:
Brian Shibley, CEO
info@purationinc.com
+1-214-937-9097
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