Continued CBD retail sales may exceed $10 billion by 2026.
DALLAS, Oct. 17, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE – Puration, Inc. (USOTC: PURA) today highlighted the newly published 2019 Hemp & CBD Industry Factbook data indicating that US CBD retail sales are expected to grow 133% in 2019 over 2018 reaching over $1 billion and that continued CBD retail sales may exceed $10 billion by 2026.
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 has also announced recent activity that indicates an anticipated increase in sales from Canada resulting from Cannabis 2.0. 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. 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/444eda4d-56ae-4a35-819a-9b99b5bb7f64