Puration Inc (OTCMKTS:PURA) is maintaining steady sales of EVERx CBD Sports Water during coronavirus pandemic. The company has built sufficient inventory to maintain sales growth from its production run before the onset of coronavirus lockdown.
Puration is engaged in the distribution of EVERx CBD Sports Water, which comprises a performance-enhancing formula, in the US, Latin America, Africa, and Europe. The company has developed EVERx Sports Water in association with Xtreme Technology. The product also comprises electrolytes, antioxidants, and alkaline pH besides infused CBD. It helps the athletes to improve performance on the field.
Scouts for the takeover of small cannabis infusion companies
Puration is scouting for the takeover of smaller cannabis infusion companies to strengthen its presence in the cannabis space. The company possesses expertise and resources to produce beverages by infusing cannabis. It is planning to expand its capacity, that comprises food infusion.
Acquires Hemp4mula CBD Confections business
Puration has completed the takeover of the Hemp4mula CBD confections business of Kaly. The takeover allows Puration to add CBD infused gum and gummies to its product line. Following the sale, Kaly will focus on cannabis biopharmaceutical business.
Kaly has developed proprietary CBD formulation using its patented cannabis extraction process to treat COPD (Chronic Obstructive Pulmonary Disease) symptoms and other respiratory ailments. The patented CBD extracts of Kaly provides excellent anti-inflammatory responses for vitro. Puration is working on rebranding and introducing CBD confections products.
Launches a campaign to clinch CBD infused beverage
Puration has recently unveiled a campaign to clinch CBD infused beverage, topical, and edible operations. It has also announced the closing of an investment of $5 million to fund the takeover campaign. The structured debt facility of $5 million allows the company to draw funds required to close the acquisition. Secured assets back it. The company will repay the debt in stock at a share price of $0.10. Puration is eyeing to boost its acquisition pipeline.
Puration has recently acquired CBD Infused Pet Products operation. The takeover allows the company to provide concierge pet services online. Also, the market for CBD Pet products expects to reach $1.16 billion by the year 2022 in the US. It provides significant business potential for Puration.