Puration Inc (OTCMKTS:PURA) announced recently that it signed new distribution orders and more potential partnerships after attending the EVERx CBD Sports Water conference and the Arnold Sports Festival.
The highlight of the two events was the CBD beverage distribution deals that the company secured and this provided exposure that has also started to attract mergers and acquisition (M&A) interest. Puration secured enough new deals from the Arnold event to help it reach its $5 million revenue target for 2019. Although the company is experiencing more M&A interest, no deals of that kind have materialized.
The Arnold event also provided Puration with a chance to attract potentially huge deals from major distributors as well as partnerships that will help it target a global audience more effectively. Puration supplied about five times the EVERx amount at the Arnold event than it did in 2018. Additionally, this year’s supplied amount still ran out before the end of the event, thus highlighting the rapidly rising demand for the product.
Puration’s aggressive growth strategy seems to be paying off
Puration attributes the impressive sales, the M&A opportunities and the marketing partnerships to the growing popularity as well as interest in cannabis products. CBD has particularly gained a lot of traction ever since hemp farming was legalized in the U.S and the cannabis legalization in Canada and most states in the U.S.
EVERx is the top CBD beverage brand in the sports nutrition segment and it has demonstrated rapid and impressive growth in the last three years. It has also managed to attract interest from major food and beverage distributors especially through the Arnold. This is because most of the largest distributors are also Arnold sponsors. This is why Puration managed to secure new orders.
Puration announced recently that it struck a partnership with North American Cannabis Holdings Inc (OTCMKTS:USMJ). The two will work together to introduce a B2B eCommerce function on the consumer e-commerce website that USMJ launched recently. The deal will allow customers to access PURA’s EVERx CBD Sports Water in wholesale through USMJ’S new e-commerce website. Puration is pleased with its current trajectory and is optimistic about future performance.