DALLAS, February 7, 2017 /PRNewswire/ --
ML Capital Group, Inc. (USOTC: MLCG) and Puration, Inc. (USOTC: PURA) today announced reaching an agreement where both companies will contribute to an equity purchase of Spanish Peaks ScrumpDelicacies. The two companies announced last month entering into a partnership around MLCG's independent plan to acquire Spanish Peaks. Now that partnership will include both MLCG and PURA purchasing equity in Spanish Peaks as part of a strategic plan to introduce a MLCG Cannabis Tourism Offering into Colorado's $19 billion tourism industry that features Spanish Peaks Cannabis Beverage production the way Napa Valley tours feature wine production. PURA is to be the exclusive Cannabis Extract Source for all Spanish Peaks beverage and edible production.
The architecture of the acquisition deal includes a plan where a portion of the Spanish Peaks stock acquired by MLCG and PURA will be issued to the shareholders of MLCG and PURA in a dividend distribution. Spanish Peaks is currently a private company but plans to list public in conjunction with the planned transaction with MLCG and PURA. Spanish Peaks MLCG and PURA are taking a page out of the North American Cannabis Holdings, Inc. (USOTC: USMJ) were deals are structured to share the potential benefit of the transaction directly with shareholders. USMJ spun-off its cannabis extraction business into PURA and issued a PURA stock to its shareholders in a dividend distribution last year.
MLCG and PURA have published an online and on demand presentation detailing plans for the Global Cannabis Tour Business:
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
SOURCE ML Capital Group and Puration Inc.