DALLAS, Feb. 26, 2020 /PRNewswire/ -- Puration, Inc. (USOTC: PURA) today announced its first two target acquisitions in an overall acquisition campaign funded by a recent $5 million investment remain on track. PURA anticipates closing the acquisition of a CBD Infused Pet Products operation tomorrow, Thursday, February 27th. A second acquisition of a CBD Infused Confections operation is underway. PURA has engaged a third party to produce a fairness opinion on the target CBD Infused Confections operation acquisition as a next step in the process. The fairness opinion is anticipated to be complete next week with the completion of the acquisition to follow shortly thereafter.
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. The CBD Infused Pet Products acquisition schedule tomorrow is the first in an anticipated series of acquisitions. PURA is currently working to build a pipeline of more acquisition opportunities.
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.