PURA - Puration Announces Pending Acquisition Of $1 Million Annual Revenue Grow Operation With Plan To Expand To $16 Million
22 June 2017 - 11:05PM
InvestorsHub NewsWire
Dallas, Tx – June 22, 2017
– Puration, Inc. (USOTC: PURA) today announced the Company has
entered into a letter of intent agreement to acquire First Choice
Nursery which has an existing twenty-five greenhouse
facility. The company has the opportunity to expand to an
additional 400 irrigated greenhouse pads ready for buildout.
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.”
$1 Million Annual Revenue Operation With Initial Expansion
Target To $16 Million
The pending acquisition of First Choice Nursery is taking over what
was a family owned nursery operation. The projected $1
million in annual revenue from the operation of 25 greenhouses will
come primarily from the sale of traditional greenhouse grown
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 and NCM
Biotech plan to expand existing University Research relationships
to include a portion of the greenhouse facility being utilized to
develop a proprietary strain of CBD. Puration will use
proceeds from the balance of the traditional nursery operation to
expand the operation into its full 400 greenhouse potential.
The operation is located in an 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.
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
Home Depot (NYSE:HD)
Historical Stock Chart
From Apr 2024 to May 2024
Home Depot (NYSE:HD)
Historical Stock Chart
From May 2023 to May 2024