PURA - Puration Announces Cannabis Cultivation Spinoff and Planned Dividend
04 October 2018 - 10:47PM
InvestorsHub NewsWire
Dallas, TX -- October 4, 2018 -- InvestorsHub
NewsWire -- Puration, Inc. (USOTC:
PURA) (“PURA”) today announced spinning off its cannabis
cultivation business. The spinoff is part of a strategy for
Puration to concentrate ongoing business development efforts on the
company’s flourishing cannabis infused beverage business.
Puration introduced its first cannabis infused beverage, EVERx CBD
Sports Water, last year and has since reported 600% revenue growth.
The spinoff announced today has been affected through the execution
of a securities exchange agreement with Nouveau Life
Pharmaceuticals, Inc., (USOTC:
NOUV) (“NOUV”). PURA has sold its cannabis cultivation
business in exchange for a convertible purchase note issued by
NOUV. PURA and NOUV have agreed to a recapitalization plan
for NOUV and a post recapitalization conversion of the purchase
note into a number of common NOUV shares sufficient to issue one
NOUV common share for every five shares of PURA common shares
issued and outstanding. All of the NOUV common shares issued
in conversion of the purchase note are slated for distributed to
PURA shareholders in a dividend distribution. PURA
management plans to present further details on the transaction
announced today in conjunction with the company’s overall cannabis
infused beverage business expansion in an online presentation one
week from today, on Thursday, October 11th,
2018.
Learn
more about Puration at www.purationinc.com
Learn more about the
cultivation business at https://www.purationinc.com/extraction
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, Inc.
Brian Shibley,
info@aciconglomerated.com
(800) 861-1350
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