to receive a $5 million investment. The company will use the funds to support
the takeover of cannabis edibles, beverages, and topical operations. It already
divulged plans to clinch the market opportunities by acquiring smaller
companies engaged in cannabis infusion operations. According to the analysis by
several investment analysts in the cannabis space, consolidation is on the
cards wherein larger firms acquire smaller cannabis companies.
Withdraws funds for
Puration will withdraw funds when required to
support the acquisitions. It will repay the debt in stock at a share price of $0.10.
The company secures the debt with acquired assets. It expects to make a
takeover offer in the next ten days.
to grow for CBD
Goldman Research surveyed on behalf of
Puration to know the demand for CBD in the wake of comments issued by the US
FDA. Puration will use the survey results to gauge its approach to the CBD
market. The survey measured the consumer’s reaction to the negative comments
issued by the US FDA in respect of CBD. According to the survey, the comments
of the FDA have little impact on consumer sentiment, and the demand for CBD
Brian Shibley, Chief Executive Officer of
Puration, said the survey provides the feedback because the company pursues
options to expand cannabis-infused beverages production. It will include CBD
infused topical and edibles in the production to meet the growing demand. He
said the investment comes at a time when the company is moving forward
aggressively to expand the production of CBD infused consumer products besides
Formal offer for
CBD infused confections operation
to make an offer for CBD infused confections operation within ten days. The
target company is engaged in the production of CBD infused Gum and CBD infused
Gummies. Following the takeover, Puration would merge the CBD confections
business into its existing operations. It expects that the demand for CBD
infused Gummies would reach $6.9 billion by the year 2025.
engaged in the production of EVERx sports water to meet the growing demand for
the sports nutrition market. The company also distributes EVERx in Africa, the
US, Europe, and Latin America.