Puration Inc (OTCMKTS:PURA) has confirmed that it will receive the first large order for EVERx CBD Sports Water in Europe. The company expects to receive this order later this week from a distributor, who generates Euro 4 billion annual sales by supplying to the grocery chain. It is in response to the marketing campaign that started last week at the Arnold Sports Festival in Barcelona.
Expects quarterly sales of $1 million
Puration expects to generate quarterly sales of $1 million next year through its recent accord with a large distributor in Europe. It is on track to meet the analyst’s estimate of $8 million sales next year. The company would ensure the first shipment next month to the distributor in Europe. Puration expects to ship the innovative TranquiliTeaCBD beverage to the European Distributor before the end of next year. The company has launched TranquiliTeaCBD beverage on September 25, 2019.
Goldman small cap research puts a target of $0.35
According to a communicative from Puration on September 25, 2019, Goldman Small Cap Research report has put a buy rating for a target of $0.35 PPS. The research report covers the CBD Beverage business of Puration and the CBD industry.
The CBD infused sports nutrition of Puration has generated sales of more than $1 million in 2018. It has reported sales of more than $1 million in the first half of 2019. The company expects to achieve sales of $4 million by the end of 2019.
Exchanges 120 million preferred shares
Puration has received $1.2 million convertible note from Nouveau Inc after spinning off the cannabis cultivation business to the latter in October 2018. The company has exchanged the convertible notes in July 2019 into common stock of Nouveau. Now, Puration and Nouveau are working to pass on the dividend of the preferential shares to Puration shareholders.
The spin-off to Nouveau included a farming operation that comprises twenty-five operating greenhouses. It also consists of an additional 400 greenhouses ready for operation. The twenty-five greenhouses are engaged in nursery operations because marijuana and hemp cultivation are not legitimate at that time. Following the legalization, the Texas-based operations are adopting hemp cultivation. Nouveau expects to generate revenue of $10 million in 2020.