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Marijuana

Puration Inc.’s (OTCMKTS:PURA) CBD Business Acquisition Spree Takes It To A CBD Sun Care Business

Puration Inc. (OTCMKTS:PURA) has announced the signing of a letter of intent for the acquisition of a CBD-infused sun care products producing enterprises. The global sun care products currently valued at $8.5 billion could reach $10 billion in four years.

Puration eyeing acquisition of struggling CBD businesses

At the beginning of this year, the company launched a CBD business acquisition plan, and it seems the campaign is gathering momentum, and Puration had been entertaining new unsolicited investor interest to back the campaign. The campaign focuses on the market for promising and creative businesses starved of cash due to the slowing of the cannabis market in 2019.

The company secured a $5 million investment in February to support its acquisition campaign. So far, the company has closed the acquisition of CBD pet products and CBD confections companies. Recently the company announced that it had entered due diligence arrangement on another three potential acquisitions.

In a recent update on the company’s acquisition campaign, Puration indicated that the $5 million investment it secured was in the form of a credit facility. As a result, the company can only draw funds when necessary to fund the acquisitions. On the other hand, the asset the company will acquire will secure the drawn amount, and repayment will be in the form of shares at $0.10 for each share.

Puration management pursuing more investments to fund acquisitions

The company’s management indicated that there have been several investment funds that have contacted the company seeking to support the campaign. Management is currently pursuing more investments to enhance its position as it seeks more acquisition opportunities.

The company’s main focus company is the acquisition of CBD product businesses that it can enhance through its patented technology. The global CBD market is full of potential, and it is likely to hit $20 billion by 2024. Puration has a US Patented licenses to a cannabis extraction procedure that is backed through extensive medical research. The license was issued by NCM Biotech and is exclusive to CBD derivatives like edibles, cosmetics, and beverages.

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Marijuana

Puration Inc. (OTCMKTS:PURA) Finalizes Acquisition To Bring Bottling of CBD Beverage to Europe

Puration Inc. (OTCMKTS:PURA) has announced that it has finalized the acquisition of a Germany company. This will enable Puration to bottle its CBD drinks locally and supply them throughout Europe.

Puration takes EVERx CBD Sports Water to Europe

The acquisition comes at the back of Puration, entering a distribution agreement to supply its EVERx CBD Sports water and other beverages in Europe. The distribution agreement will add approximately $4 million in sales in 2020.according to the management, the European market is huge, and the sales projection needed the establishment of a local bottling capacity.

By 2023 the CBD market in Europe will be around $17 billion. The expansion to Europe is part of the company’s strategy to expand the bottling of beverages outside Latin America and Canada. The company has indicated that it will close the acquisition on November 14.

The company has already started marketing the EVERx CBD Sports Water in Europe. The company launched the beverage at the Arnold Schwarzenegger Sports Festival In Barcelona. The water was introduced first in 2017 at the Arnold Classic in Ohio in 2017. It has grown to be part of the global Arnold Sports Festival events.

EVERx Sports Water is a leading CBD infused beverage that is growing sales rapidly. In the first half of this year, the company generated sales of $1 million from the water, and it is targeting sales of around $4 million by the end of 2019. This will be different from the current anticipated $4 million from the distribution agreement.

Puration Announces LOI for an acquisition in Latin America

Besides the acquisition in German, the company also announced a possible acquisition in Latin America same as that of Germany. The acquisition is designed to enhance foothold for the company to bottle the CBD infused beverages locally in Latin America. The Latin America CBD market is budding, and it is showing signs of massive potential. By 2028 it is estimated that the market will hit $9 billion.

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