PURA - Puration Cannabis Cultivation Spinoff Strategy Keeps Pace With Canadian Recreational Marijuana Legalization
June 21 2018 - 9:31AM
InvestorsHub NewsWire
Dallas, TX -- June 21, 2018 -- InvestorsHub
NewsWire -- Puration, Inc. (USOTC:
PURA) today announced that the company’s recently announced
plans to spinoff its cannabis cultivation business to include its
recently acquired Canadian Cannabis Farmers Co-Op, is keeping pace
with the Canada’s legalization of recreational marijuana use.
The spinoff plan includes a dividend issuance of cannabis
cultivation spinoff stock to the shareholders of PURA. The Canadian
senate passed a bill on Tuesday, 52-29, to legalize the
recreational use of Marijuana.
“Canada
is only the second country in the world -- and the first G7 nation
-- to implement legislation to permit a nationwide marijuana
market. In the neighboring US, nine states and the District of
Columbia now allow for recreational marijuana use, and 30 allow for
medical use.”
CNN
Yesterday, on Wednesday, Minister Justin Trudeay
said that recreational marijuana sales will be legal by October,
17th this year.
Puration plans to spin-off its cannabis
cultivation business into a standalone, independently traded
company listed both in Canada and the US. The planned
transaction includes a dividend distribution of shares in the
independently traded spin-off company to the shareholders of
Puration. Puration will continue to expand its cannabis
infused beverage business separate from the cannabis cultivation
spin-off. Last year, PURA introduced EVERx CBD Infused Sports
Water as an evolution of the company’s cannabis extraction
business. EVERx has since become a recognized brand in sports
nutrition market place. Distribution is growing. PURA
has recently designed a THC infused beverage named THCSavor
expected to be introduced in Canada later this year.
Puration and North American Cannabis Holdings, Inc. (USMJ)
share ACI Conglomerated as a majority shareholder and the two
companies have recently announced a coordinated strategic update
that also includes a spinoff of USMJ’s AmeriCanna Cafe business
into a separate, independently listed company with a dividend of
spinoff stock to the shareholders of USMJ. USMJ is working to
soon launch a new ecommerce business to serve the cannabis market
with a more comprehensive offering than currently available through
Potnetwork Holdings’ (POTN)
Diamond CBD. Learn more on USMJ and PURA's combined
website.
For more information
on Puration, visit http://www.aciconglomerated.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, Inc.
Brian Shibley,
info@aciconglomerated.com
+1-800-861-1350
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