DALLAS, August 2, 2016 /PRNewswire/ --
Puration, Inc. (PURA) and Colorado based Spanish Peaks ScrumpDelicacies today announced entering into a $1 million collaboration agreement to produce and co-market THC and CBD infused beverages. The agreement is the first of three anticipated agreements with food and beverage companies to be announced in the coming weeks by Puration.
Puration utilizes a highly refined cannabis extraction process to deliver consistent and high-quality cannabis extracts. Puration last week announced an independent lab test certifying Puration CBD extract at 98% purity . The Company's business strategy is to develop collaboration agreements with food and beverage companies to co-market food and beverage products infused with Puration's cannabis extracts. Puration has published a business plan with a $3 million revenue forecast on the Company's website.
Spanish Peaks ScrumpDelicacies is a venture backed startup dedicated to building cannabis consumer product production capacity in the Southern Front Range Region of Colorado. After the Southern Colorado Town of Walsenburg was featured in a USA TODAY report last year as a potentially ideal region for the evolving cannabis industry yet underserved by the investment community, the Spanish Peaks ScrumpDelicacies initiative was born.
Together the two companies plan to develop a line of THC and CBD infused beverage products for the consumer market to be sold where law currently permits. The cornerstone of the collaboration agreement and the first year budgeted $1 million sales objective is founded on an affiliated distribution partnership.
To learn more about Puration: http://www.purationinc.com
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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.
Brian Shibley, CEO
SOURCE Puration, Inc.