Puration Inc (OTCMKTS:PURA) and North American Cannabis Holdings Inc (OTCMKTS:USMJ) have staged a decision for two spin-offs. Both the firms also agreed for distributing a dividend for the spin-off stocks. One dividend will be distributed to the shareholders of Puration Inc and other for the USMJ.It is on the backdrop of successes achieved by both the firms with Americanna Cafe, and EVERx CBD Infused Sports Water.
Puration Inc Decides to Spin-off Cannabis Cultivation Business
Puration Inc is planning to spin-off the cannabis cultivation business into an independent traded and a standalone company listed in both the US and Canada. As per the planned transaction, a dividend will also be distributed to the shareholders of Puration Inc for the shares in independently traded spin-off company.
Chief Executive Officer of Puration Inc., Brian Shibley said he is very happy about the announcement by President Trump on the lifting of ban on the marijuana. According to the CEO, the actual lifting of the ban will take some time.
The trend is positive for the marijuana trade in Canada. The nation is moving ahead in legalizing the recreational marijuana when compared to the US. Therefore, valuation for marijuana stocks is promising on the Bay Street when compared to the Wall-street.
The company has already taken over Canada based cannabis cultivation business and it is part of the cultivation strategy. The cultivation spin-off will be included in Canadian listing. Apart from this development, Puration Inc will expand the Cannabis Infused Beverage business.
Puration Inc has launched EVERx CBD Infused Sports Water in 2017. EVERx has gained wide popularity since its launch in the nutrition market.
Puration to Unveil THCSavor in the End 2018
The company is also planning to introduce THCSavor, a THC infused beverage, in the latter part of 2018 in Canada.
Puration will produce THCSavor in its Canadian facility and released a package design image for this new product. Its CEO said the work is in progress for the package design. He has invited the investors to send a feedback.
The company has issued an update on anticipated acquisition to the shareholders on Thursday.