DALLAS, Feb. 20, 2020 /PRNewswire/ -- Puration, Inc. (USOTC: PURA) today announced plans to close the acquisition of a CBD Infused Pet Products operation next week. PURA made an offer to acquire the CBD Infused Pet Products operation just last week and the seller has accepted the offer which entails a royalty payment in exchange for PURA funding the CBD Infused Pet Products marketing launch. The CBD pet products market is anticipated to reach $1.16 billion in the U.S. alone by 2022. The seller currently provides concierge pet services through a mobile app portal and already has a thriving client base anticipated to help accelerate the sales growth of the CBD Infused Pet Products under the PURA umbrella. The acquisition is currently scheduled to close next week on Thursday, February 27th, 2020 subject to the drafting, review and approval of documents.
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.
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.