DALLAS, Feb. 19, 2020 /PRNewswire/ -- Puration, Inc. (USOTC: PURA) today announced the recent offer PURA made to acquire a CBD Confections Operation has been accepted by the seller. In conjunction with the terms of the acquisition agreement, an independent third party has been engaged to evaluate the CBD Confections Operation and render a fairness opinion. The fairness opinion is expected within the next two weeks.
PURA recently launched a campaign to acquire CBD infused beverage, edible and topical operations and also announced closing on a $5 million investment to fund the acquisition campaign. The $5 million investment is structured as a debt facility whereby funds can be drawn as needed to fund acquisitions. The drawn funds would be secured by the acquired asset and the debt can be repaid in stock at $0.10 per share.
In addition to PURA's offer to acquire a CBD Confections Operation, PURA has separately made an offer to acquire a CBD Pet Products operation. PURA plans to also engage an independent evaluation of the CBD Pet Products operation if the offer is accepted.
For more information on Puration, visit http://www.purationinc.com.
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
SOURCE Puration, Inc.