DALLAS, July 26, 2016 /PRNewswire/ --
Puration, Inc. (PURA) today announced an in-house cannabis sector distribution capacity founded on an existing related distribution operation. The existing distribution operation enables the Puration in-house cannabis distribution capacity to immediately service the distribution of cannabis infused food and beverage consumer products produced as a result of Puration food and beverage collaboration agreements. The in-house distribution capacity will additionally include complimentary, non-cannabis food and beverage consumer products augmenting Puration's overall revenue.
Puration is engaged in the development of standardized and repeatable cannabis extraction processes that can deliver a consistent and high-quality concentrate for infusion into consumer food and beverage products that appeal to the recreational and wellness market segments. The Company recently announced a preliminary $3 million 12-month revenue forecast and campaign to brand Company's cannabis extracts as the leading concentrates infused into recognized food and beverage consumer products.
The Company is currently in negotiations with a number of food and beverage consumer product companies regarding collaborations to infuse a co-branded Puration extract. The target sales objective of each collaboration agreement is $1 million dollars within the first year. Puration anticipates three collaboration agreements to be finalized and announced promptly. The Company has more than three collaboration agreements currently under development. If Puration enters into more than three collaboration agreements, the preliminary revenue forecast may be refined upward.
The introduction of the in-house distribution capacity is intended to make a collaboration agreement with Puration even more appealing to prospective food and beverage consumer product companies. The in-house distribution capacity enhances the collaboration opportunity with a network of existing retail outlets. The in-house distribution capacity also offers prospective food and beverage consumer product companies with an additional channel to market for existing products in addition to the new products produced in collaboration with Puration.
Puration's current extraction operation has evolved out of a spinoff from a health and fitness operation with an existing affiliated distribution network. Puration's in-house distribution capacity announced today is founded on that network.
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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.