Cannabis 2.0 is the legalization of cannabis infused edibles and beverages in Canada going into effect today October 17th.
DALLAS, Oct. 17, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE — Puration, Inc. (USOTC: PURA) has recently disclosed interest expressed in PURA’s EVERx CBD Sports Water in regard to Cannabis 2.0, the legalization of cannabis infused edibles and beverages in Canada going into effect today October 17th.
PURA management has observed a movement in Canada toward CBD infused sports nutrition beverages. Both Aurora Cannabis (ACB) and Canopy Growth (CGC) have made recent moves into the sports nutrition beverage sector. Aurora has entered into a deal with the UFC and Canopy acquired sports beverage maker BioSteel Sports Nutrition.
In addition to the inquiries from Canada about PURA’s EVERx reported by management, PURA has a ready partner of its own as an entry into the Canada 2.0 market opportunity. The CEO of PURA, Brian Shibley, is also the CEO of PURA spinoff, Nouveau (USOTC: NOUV) a cannabis cultivator with a licensed operation in Canada.
NOUV’s Canadian operation is small today, but still gives PURA access to Canada 2.0 while evaluating other suitors that may give PURA accelerated access to the Canada 2.0 market.
Earlier today, PURA announced that its growing number of new distribution agreements support the recent analyst projection for the company to reach $8 million in revenue in 2020. PURA recently announced a new European distribution agreement anticipated to generate $4 million next year with a first shipment scheduled later this month.
Subsequently, PURA announced a new distribution agreement in Latin America. PURA realized $1 million in revenue last year in 2018 and then reported another $1 million in revenue in just the first six months of 2019.
PURA management has set a $4 million revenue target for year-end 2019. Multiple surveys indicate consumers are eager to purchase edibles and beverages. Specifically, a study conducted by research firm Deloitte reported that over half of surveyed respondents were likely to try cannabis-edibles, and 37% were likely to try cannabis-beverages.
PURA commissioned its own survey on the cannabis beverage sector that is available for review online.For more information on Puration, visit http://www.purationinc.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.