Dallas, TX -- May 11, 2020 -- InvestorsHub NewsWire -- Puration, Inc. (USOTC: PURA) today released its 7th weekly Coronavirus update. Texas, Puration’s home, is now two weeks into reopening its economy in phases. PURA continues to take advantage of the Texas reopening to redistribute EVERx CBD Sports Water inventory to support ongoing sales.
PURA also continues to advance business matters that are independent of any Coronavirus impact. Today management shares further details on the initial news contained in last week’s Coronavirus update regarding the status of its cannabis cultivation spinoff to Nouveau (NOUV) and the planned dividend of NOUV stock to PURA shareholders. While the dividend issuance has taken much longer than anticipated, management remains committed to the spinoff plan and dividend.
Former NOUV management have been slow to provide the necessary support required to update the NOUV delinquent filings. As mentioned last week, PURA management has asked for former NOUV management’s help one final time. PURA management has developed an alternative strategy to carry through with the spirit of the intended spinoff and dividend in the event former NOUV management’s help is not forthcoming in a timely manner.
In the meantime, the cannabis cultivation operation is thriving. The operation has recently purchased and relocated to a new property from its former leased property. Texas lawmakers have recently implemented hemp friendly farming regulations and in so doing, universities within the State of Texas have initiated hemp farming research programs. PURA’s cannabis cultivation spinoff has initiated a number of joint research applications with Texas universities.
PURA’s cannabis cultivation spinoff is also discussing with Kali-Extracts’ (KALY) NCM Biotech subsidiary, a joint effort to develop a proprietary cultivar to advance NCM Biotech’s ongoing work to produce various medical treatments from the company’s patented cannabis extraction process.
PURA management reiterates it commitment to seeing the cannabis cultivation spinoff continue to thrive and grow and for PURA shareholder’s to directly benefit from cannabis cultivation spinoff. Ideally, the NOUV transaction will perform - better late than never. Nevertheless, PURA management intends to see through on its commitment to PURA shareholders in regard to the original intensions of the cannabis cultivation spinoff.
For more information on Puration, visit http://www.purationinc.com
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.