DALLAS, June 19, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE — Puration, Inc. (USOTC: PURA) (”PURA”) management today emphasized that the $1.5 million contract to produce a 25 mg CBD beverage for which production initiated yesterday, represents new revenue on top of the company’s ongoing sales accounting for over $1 million in annualized revenue.
The $1.5 million contract to produce the private label beverage is a major step toward PURA’s 2019 target of reaching $4 million in revenue.
With Kali-Extracts, Inc. (aka Kali, Inc.) (USOTC: KALY) (“KALY”) bringing their CBD extraction expertise based on the U.S. Patented Cannabis Extraction process that they own and operate, PURA has initiated production of a new beverage infused with 25 mg of hemp derived CBD.
Most CBD infused beverages contain only 5 mg of CBD with a few containing 10 mg. Beverages with 25 mg of CBD are hard to find. PURA has been producing a CBD infused sports water infused with 10 mg of CBD since 2017. PURA markets and sells the CBD sports water under the brand name EVERx and achieved over $1 million in sales in 2018. PURA has the sole license of KALY’s U.S. Patented Cannabis Extraction Process. PURA and KALY have partnered on the development of a CBD extraction that can support a clear and sustained suspension at the 25 mg level.
As of today, the production of a 25 mg CBD beverage has been initiated for production at a Texas facility. Texas Governor Greg Abbott signed a new law last week legalizing hemp and hemp-derived products. The 25 mg CBD beverage is being produced in fulfillment of a $1.5 million contract where PURA is producing the beverage under a private label for a third party.
PURA has in turn engaged KALY for its extract expertise.
