PURA Announces New Development Expanding Cannabis Market Opportunity

Rhea-AI Summary

Puration, Inc. (PURA) announced a significant opportunity with an impending cash infusion expected within the next 90 days, as management reports that an agreement is progressing on track. The company is also adapting its strategy following the award of a provisional cannabis cultivation license to its sister company, North American Cannabis Holdings (USMJ), in New York. This license is a result of new legislation allowing existing hemp businesses to cultivate adult-use cannabis. Both companies are reviewing their business plans in light of this development.

Positive

• Anticipated cash infusion within 90 days.
• Award of provisional cannabis cultivation license in New York could enhance business strategy.

Negative

• None.

Dallas, TX, Aug. 10, 2022 (GLOBE NEWSWIRE) -- Puration, Inc. (OTC Pink: PURA) today announced a new development that creates new opportunity for the company and could alter the course of the company in a new direction.

The company confirms, as previously announced, an agreement still in the works anticipated to result in a cash infusion within the next 90 days. Management indicates the agreement is progressing on track and anticipated to be completed on or ahead of schedule.

The new development announced today is a provisional cannabis cultivation license in the State of New York announced yesterday by PURA’s sister company, North American Cannabis Holdings, Inc. (OTC Pink: USMJ).

In February of this year, New York passed a new law to provide provisional marijuana cultivation licenses to existing hemp businesses.

USMJ has a subsidiary that has been growing hemp for CBD for the past four years. USMJ announced in March of this year, that its subsidiary had received an invitation from the New York Office of Cannabis Management (OCM) to apply for the provisional adult-use cannabis license. Yesterday, USMJ announced that the license has been awarded.

In light of the license, USMJ and PURA are reviewing current business plans and exploring an update to the existing strategy of both companies.

For more information on Puration, visit http://www.purationinc.com

Disclaimer:
This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any these statements. You are cautioned not to place undue reliance on any those forward-looking statements. Except as otherwise required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements after the date of this news release. None of such forward-looking statements should be regarded as a representation by us or any other person that the objectives and plans set forth in this News Release will be achieved or be executed.

For More Information Contact:

Puration, Inc.
Brian Shibley,
info@aciconglomerated.com
(800) 861-1350

FAQ

What is the latest news from Puration (PURA) regarding cash infusion?

Puration announced an anticipated cash infusion within the next 90 days as an agreement is progressing well.

What significant development has Puration, Inc. (PURA) recently made?

PURA is adapting its strategy following the award of a provisional cannabis cultivation license in New York to its sister company, North American Cannabis Holdings (USMJ).

How does the New York cannabis cultivation license affect Puration (PURA)?

The license awarded to USMJ allows for potential growth in cannabis cultivation, leading to strategic adjustments for PURA.

What operational changes are expected for Puration (PURA) after the license award?

PURA is reviewing its business plans and strategy in response to the new opportunities from the cannabis cultivation license.