PURA – Puration Reports Optimism On Latin American Acquisition Outlook
DALLAS, Nov. 19, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE – Puration, Inc. (USOTC: PURA) today announced the meetings taking place in Dallas with a target acquisition opportunity in Latin America intended enable PURA to bottle CBD beverages in Latin America for the Latin American market are going well. PURA management believes agreement on final terms will be forthcoming by the end of the day tomorrow.
The legal Latin American cannabis market is anticipated to reach $9 billion by 2028. Last week, PURA closed an acquisition to enable PURA to bottle CBD Beverages in Europe for the European market. The acquisition initiative in Europe was driven by 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 projected 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. The meetings that started yesterday and go through Wednesday of this week are focused on establishing a foothold for local bottling in the Latin American market just as the German acquisition is designed to establish a foothold in Europe. For more information on Puration, visit http://www.purationinc.comDisclaimer/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.