DALLAS, December 21, 2017 /PRNewswire/ --
Puration, Inc. (PURA) today announced the company is establishing a subsidiary operation dedicated to cannabis extraction. The announcement today is in conjunction with recent news on a letter of intent with Greenbelt Resources Corporation (GRCO) (Greenbelt) to jointly develop and operate a cannabis extraction facility in California, and recent developments with North American Cannabis Holdings, Inc. (USMJ) to become an exclusive extractor for North American Cannabis operations in Canada. Puration is the sole license to U.S. Patent No. 9,199,960, entitled "METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT." The license permits Puration to produce cannabis extracts for infusion into recreational, fitness wellness, alternative medicine and beauty products. Puration also produces EVERx CBD Infuses Sports Nutritional Supplements.
"Forming the extract subsidiary is a first step at unlocking shareholder value by specifically delineating between our cannabis infused products business and the extraction business," said Brian Shibley, CEO of PURA. "Look for more news on next steps coming soon."
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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.
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