Puration, Inc. (USOTC: PURA) and North American Cannabis Holdings, Inc. (USOTC: USMJ) today confirmed entering strategic negotiations.
PURA produces EVERx CBD Sports Water with over $2 million in annual sales.
USMJ runs a cannabis ecommerce business that includes a cannabis products logistics operation.
PURA recently launched a hemp lifestyle business initiative built around a $1.3 million property purchase in Farmersville, Texas where the company plans to construct multiple hemp centric enterprises to promote the full industrial potential of hemp. Toward this end, PURA has already established partnerships with Alkame Holdings, Inc. (USOTC: ALKM) and PAO Group, Inc. (USOTC: PAOG).
USMJ has similarly initiated efforts to refresh the company business plan after the impact to the company’s cannabis themed restaurant operations from the COVID-19 pandemic.
Today, PURA and USMJ make their co-development plans public for the first time. The two companies already share the same majority shareholder, and now plan to construct a strategic and synergistic strategy designed to optimize shareholder value for both companies within the evolving cannabis economic sector.
The Motley Fool published an article on Friday highlighted four cannabis sector trends that included a forecast for the cannabis market to reach $41 billion by 2025.
For more information on Puration, visit http://www.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 Alkame will achieve significant sales, the failure to meet schedule or performance requirements of the Company’s contracts, the Company’s liquidity position, the Company’s 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.