Puration Inc (OTCMKTS:PURA) has renewed accords with Tilray Inc (NASDAQ:TLRY) and Anheuser Busch Inbev NV (NYSE:BUD) to focus on research and drive the sales. With vast experience in the cannabis beverage industry, Puration is betting big on the cannabis-infused beverages to increase sales from the present $1 million to $5 million next year.
Tilray and Anheuser Busch Each Contributes $50 Million for Research
As per the terms of the accord, both Tilray and Anheuser Busch will invest $50 million each in the research project. It is on the backdrop of the legalization of recreational cannabis in Canada in October 2018. The passing of the US Hemp Farm Act 2018 is also heating interest in cannabis by dragging in big players. Many fortune 500 beverage industry companies are pumping in money to explore the cannabis-infused beverage industry.
Puration Wins Second Order for Telluride Happy Water
After bagging the first order earlier this month, Puration has won a second order for Telluride Happy Water. The company will supply the 12 pallets to the customers in Austin, Texas.
Puration Plans to Integrate Operations of Telluride Health Company into Its Cannabis Operations
Puration has recently acquired Telluride Health Company. The company will integrate the operations of Telluride Health into its cannabis beverage business. Puration Inc has issued an online presentation to the shareholders.
A group of college students, who are active in the cannabis community, have developed The Telluride Health Company. The innovative product Telluride Happy Water improves the cannabis experience to the customers. President of Telluride Health Company, Yasmine Acebo said the company is happy to become part of Puration Inc. The company will make use of the proven experience of Puration in marketing the innovative products.
Chief Executive Officer of Puration, Brian Shibley, said the team of Telluride Health has a great unique product. There is a great demand for its products with no competitors. The company is making plans to commence the production of Telluride Happy Water, which consists of a high amount of dissolved oxygen so that it will hit the shelves by the end of this month.