PURA – Puration Confirms Acquisition Progress To Expand CBD Beverage Bottling Internationally
DALLAS, Nov. 07, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE – Puration, Inc. (USOTC: PURA) today confirmed the company is actively developing additional acquisition opportunities similar to the recently announced acquisition developing in Germany. Earlier this week, PURA announced executing a letter of intent to acquire a company headquartered in Germany as part of a strategy to bottle PURA’s CBD infused beverages locally. The German LOI follows PURA recently signing a distribution agreement in Europe for its EVERx CBD Sports Water with other CBD infused beverages to follow. The initial European distribution agreement is estimated to add $4 million in sales next year. Management indicates that the potential of European distribution beyond the initial $4 million projection warrants the establishment of a local bottling capacity. The European market for CBD is project to reach nearly US $17 billion by 2023. The bottling expansion in Europe is part of a bigger plan to expand bottling in Canada and Latin America. A second LOI is anticipated to be announced next week and the German acquisition is anticipated to close next week.
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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.