PURA - Puration Plans to Re-Brand, Shares Soar
August 28 2020 - 9:07AM
InvestorsHub NewsWire
August 28, 2020 -- InvestorsHub NewsWire -- via -- Baystreet.ca
- Glenn Wilkins
Making a name for oneself in the very-crowded cannabis industry
sometimes involves changing one's look or even one's identity.
No matter what they are called, stocks in the health-care
industry (under which cannabis concerns fall) gained 0.8% in the
United States, while in Canada, the sector wilted 1%.
Dallas-based Puration, Inc. (OTC:
PURA) told investors Thursday it will reveal its new brand name
behind its horizontal CBD consumer product expansion into a
$500-billion new market opportunity next Tuesday. While it's doing
that, PURA will include highlights on its overall expansion
plans.
The company's expansion plan is built on a solid base CBD
beverage business. The company recently reported $1.6 million in
revenue with $471,000 in gross profit primarily from sales of its
EVERx CBD Sports Water. Sales YTD grew 48% compared to the same
period last year.
PURA shares raced 20.7% by noon EDT Thursday to 1.81 cents, on
volume of 21.2 million shares.
On another health front, that of aiming for victories over
COVID-19, there's Toronto-based Therma Bright Inc. (TSX-Venture:
THRM), which is a progressive medical device technology
company. Thursday, the company signed a co-development definitive
agreement with Orpheus Medica Inc.
The hookup will allow Therma access to Orpheus' novel biological
platform and the joint development of a rapid saliva test for the
screening and detection of the virus (SARS-CoV-2) causing
COVID-19.
Therma will commit up to $300,000 for Phase 1 (of three) which
will focus on the identification of anti-COVID-19 poly-peptides to
be utilized in the test prototype development stage. Therma and
Orpheus expect Phase 1 to take approximately 45 days to complete.
Therma and Orpheus have identified several 3rd party providers to
assist with the Phase 1 development path.
THRM shares sprang to life by early afternoon Thursday by 2.35
cents, or 18.8%, to 14.88 cents, on volume of 84,000 shares.
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Source: http://www.baystreet.ca/articles/stockstowatch.aspx?id=8627
SOURCE: Baystreet.ca
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