DALLAS, January 26, 2017 /PRNewswire/ --
Puration, Inc. (USOTC: PURA) today announced that Spanish Peaks ScrumpDelicacies, PURA's partner for producing cannabis infused beverages in Colorado, has secured a $2 million investment to fund production facilities where beverages are to be infused with PURA THC Extract.
Late last year, PURA and Spanish Peaks entered into a $1 million collaboration agreement to produce a line of cannabis Infused beverages. In conjunction with the agreement, Spanish Peaks conducted a cannabis beverage naming contest and announced the contest winners on October 21, 2016.
More recently, Spanish Peaks has entered into a letter of intent to be acquired by ML Capital Group (USOTC: MLCG) as part MLCG's comprehensive plan to introduce Luxury Cannabis Tours into Colorado's $19 billion tourism industry.MLCG's plan includes a partnership with PURA.
In conjunction with the pending acquisition by MLCG, Spanish Peaks has secured a $2 million investment to fund a cannabis infused beverage production facility designed to host tour viewing and tasting.
"The partnership with MLCG has kicked PURA's business with Spanish Peaks into high gear," said Brian Shibley, PURA CEO. "Combining tourism with cannabis infused beverage production the way the Napa Valley wine producers have embraced tourism is just brilliant. The enthusiastic reaction to the partnership between MLCG, PURA and Spanish Peaks is infectious. That infectious enthusiasm has spread to investors and Spanish Peaks has now secured the investment that will fund a state of the art, tour worthy, cannabis infused beverage production facility. This just keeps getting better and better."
To learn more about Puration: purationinc.com
Follow Puration on Twitter: Puration710
Visit Puration on Facebook: Facebook.com/puration/
Disclaimer/Safe Harbor: 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.
Brian Shibley, CEO
SOURCE Puration, Inc.