DALLAS, Texas, August 12, 2016 /PRNewswire/ --
Puration, Inc. (PURA) today announced an anticipated boost to its previously announced $3 million revenue forecast. A revenue source not included in Puration's original forecast was added yesterday when North American Cannabis Holdings, Inc. (USMJ) and Rocky Mountain High Restaurant Group signed a $1 million agreement to license the operation of North American's AmeriCanna Cafe fast casual concept restaurant in turn looking to Puration to deliver all cannabis extracts to be infused into menu items. While the North American Cannabis Holdings opportunity was not included in Puration's preliminary forecast and does stand to contribute to Puration potentially exceeding the forecast, management is not yet raising its forecast as this time.
North American Cannabis Holdings is a cannabis enterprise incubator operationally piloting various cannabis sector business opportunities and further cultivating those pilots that show promise. To date, this approach has resulted in the AmeriCanna Cafe business, the Puration cannabis extraction business which has been spun-off into a separate public holding company, and the EVERx sports and fitness supplement business. To learn more about North American Cannabis Holdings, visit the Company's website -http://www.growusmj.com.
Puration Cannabis Extraction; $3 Million Forecast; $1 Million Contract To Date
Puration utilizes a highly refined cannabis extraction process to deliver consistent and high-quality cannabis extracts. Puration recently 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. Last week, Puration 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.
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.