DALLAS, July 26, 2018 /PRNewswire/ --
Puration, Inc. (PURA) today announced plans to publish new details Tuesday, July 31st on the company's continuing reorganization strategy to consolidate and redouble all resources on its proven cannabis infused beverage business currently on track to realize an estimated $1 million in sales this year. The legal global cannabis market could reach $140 billion dollars by 2027 according analysis by European investment bank Bryan, Garnier & Co. The report also highlights the economic potential of cannabis-infused beverages. Cannabis-infused foods and beverages are cannabis products that comprise of cannabinoid compounds such as cannabidiol (CBD) and tetrahydrocannabinol (THC). Market research firm Technavio predicts that the cannabis-infused food and beverage products market will register a CAGR of more than 25% from 2018 to 2022. Research firm Cowen & Co. reports U.S. legal cannabis industry sales growth is on track to surpass soda sales by 2030. The Cowen & Co. analyst also highlights the marijuana industry risk to alcohol companies as binge drinking rates declined in states with legal recreational marijuana. Global alcohol companies are taking note. Global alcohol giant Constellation Brands (Corona Beer, among others) purchased a 9.9% stake in Canada's largest licensed producer, Canopy Growth, for 245 million Canadian dollars (US$190 million), plus options to raise its stake to just under 20%. Puration management is preparing the company for the cannabis infused food and beverage market boom.
Puration introduced EVERx CBD Infused Sports Water last year, in 2017 at Arnold Schwarzenegger's Arnold Sports Festival. EVERx has since become the leading CBD infused beverage in the sports and fitness marketplace. EVERx CBD Infused Sports Water has a clean and refreshing taste that comes with 10mg of CBD per 500ml bottle and an optimal alkaline pH level formulated with antioxidants and electrolytes The EVERx formula is backed by two patents. In addition to the clean and refreshing taste of EVERx natural water, EVERx is available in lemon-lime and strawberry-kiwi flavors. The company has its first THC infused beverage, called THCSavor, in the works with an anticipated launch later this year.
The company has recently announced plans to spin-off its cannabis cultivation business in an effort to concentrate all Puration resources on its proven cannabis infused beverage business. The spin-off and beverage industry concentration is intended to optimize the shareholder opportunity to capture the booming cannabis infused food and beverage market to include any opportunity that might arise from the growing interest of global food and beverage industry giants like Constellation Brands. Management has designed the spin-off to benefit both the cannabis infused business operations and the cannabis cultivation operations. The spin-off of the cannabis cultivation operation is not a discarding of excess weight, but rather a divide and conquer strategy. Standalone beverage and cultivation operations will be better situated to rapidly expand within their separate segments. The shareholders of Puration will hold shares in both the beverage and the cultivation businesses. The spin off plan includes a dividend distribution of stock in the cultivation business to the shareholders of Puration. More details on the spin-off plan are available on the company's website now. Next week, on Tuesday, July 31st, the company will publish additional details on the ongoing spin-off and redoubling of resources on the cannabis infused beverage business.
For more information on Puration, visit https://www.aciconglomerated.com/pura.
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.