DALLAS, November 9, 2016 /PRNewswire/ --
North American Cannabis Holdings, Inc. (USMJ) and Puration, Inc. (PURA) announced a new office today opened in California near Los Angeles. The announcement comes in conjunction with California passing Proposition 64 and legalizing recreational marijuana. USMJ and PURA have announced restaurant and edible contracts in Colorado where recreational marijuana is already legal. The two Companies work closely together and have been working specifically of late to open a joint business development office in California in anticipation of Proposition 64 passing.
California Legal Marijuana Market Projected To Grow From $2 Billion To $8 Billion
A recent Forbes feature includes an estimate that the California marijuana market may grow to over $8 billion from its current $2 billion with the legalization of recreational marijuana. A New York Times article includes an estimate that the overall legal marijuana market in North America may grow from the $7 billion it is today to $22 billion in the next four years as a result of yesterday's legalization votes.
USMJ Revenue Growth and PURA New Contracts
USMJ has carved out a base annual revenue of $500k since entering the cannabis sector in 2013. USMJ also developed and spun off the cannabis extraction business that is now the primary operation of PURA. PURA has recently announced its first two contracts and indicated a third is pending.
To learn more about where marijuana is now legal in the United States after yesterday's votes, visit growusmj.com.
To learn more about the USMJ and PURA office in California, visit either of the two company websites.
To learn more about North American Cannabis Holdings: growusmj.com.
Follow the Company on Twitter: US_HEMP
To learn more about Puration: purationinc.com
Follow Puration on Twitter: Puration710
Visit Puration on Facebook: Facebook.com/puration/
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE Puration, Inc.