Puration Cannabis Cultivation Spinoff Strategy Keeps Pace With Canadian Recreational Marijuana Legalization
Dallas, TX – June 21, 2018 – Puration, Inc. (USOTC: PURA) today announced that the company’s recently announced plans to spinoff its cannabis cultivation business to include its recently acquired Canadian Cannabis Farmers Co-Op, is keeping pace with the Canada’s legalization of recreational marijuana use. The spinoff plan includes a dividend issuance of cannabis cultivation spinoff stock to the shareholders of PURA. The Canadian senate passed a bill on Tuesday, 52-29, to legalize the recreational use of Marijuana.
“Canada is only the second country in the world -- and the first G7 nation -- to implement legislation to permit a nationwide marijuana market. In the neighboring US, nine states and the District of Columbia now allow for recreational marijuana use, and 30 allow for medical use.” CNN
Yesterday, on Wednesday, Minister Justin Trudeau said that recreational marijuana sales will be legal by October, 17th this year.
Puration plans to spin-off its cannabis cultivation business into a standalone, independently traded company listed both in Canada and the US. The planned transaction includes a dividend distribution of shares in the independently traded spin-off company to the shareholders of Puration. Puration will continue to expand its cannabis infused beverage business separate from the cannabis cultivation spin-off. Last year, PURA introduced EVERx CBD Infused Sports Water as an evolution of the company’s cannabis extraction business. EVERx has since become a recognized brand in sports nutrition market place. Distribution is growing. PURA has recently designed a THC infused beverage named THCSavor expected to be introduced in Canada later this year.
Puration and North American Cannabis Holdings, Inc. (USMJ) share ACI Conglomerated as a majority shareholder and the two companies have recently announced a coordinated strategic update that also includes a spinoff of USMJ’s AmeriCanna Cafe business into a separate, independently listed company with a dividend of spinoff stock to the shareholders of USMJ. USMJ is working to soon launch a new ecommerce business to serve the cannabis market with a more comprehensive offering than currently available through Potnetwork Holdings’ (POTN) Diamond CBD.
For more information on Puration, visit http://www.aciconglomerated.com.
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.