PURA recently announced a new European distribution agreement anticipated to generate $4 million next year with a first shipment scheduled later this month.
DALLAS, Oct. 17, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE – Puration, Inc. (USOTC: PURA) today announced that is growing number of new distribution agreements supports 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. Today, management is highlighting the most recent new distribution agreement in Latin America and sharing more details on its potential contribution to PURA’s overall revenue.
The Latin American CBD market is estimated to reach $2 billion by 2026. Goldman Small Cap Research recently reported that the Latin America CBD market is a “burgeoning untapped opportunity.” PURA management is optimistic that the new distribution agreement could add substantial revenue in 2020 and also add revenue in the fourth quarter of 2019.
PURA recently targeted $4 million in anticipated revenue in 2020 from its new European distribution agreement. That target is derived from nearly six months of experience test marketing EVERx CBD Sports Water sales with the new distributor.
The Latin America distribution agreement is brand new and does not yet have test marketing feedback. PURA management believes it is prudent to wait on initial sales results from the new agreement prior to setting too robust a target for Latin American sales contributions.
Based on the network of the distributor, PURA management believes a $1 million sales contribution from Latin America is conservatively achievable. After the first 90 days following the first shipment, management will update the Latin American 2020 sales target.
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.