DALLAS, December 12, 2017 /PRNewswire/ --
Puration, Inc. (OTC: PURA) today published an online presentation on the company's website highlighting the details on the company's plan to jointly develop a cannabis extraction facility in California with Greenbelt Resources Corporation (OTC: GRCO) (Greenbelt). The two companies announced a letter of intent (LOI) last week to partner on the development and operation of a cannabis extraction facility. The presentation is made by Puration CEO, Brian Shibley and is supported by Greenbelt CEO, Darren Eng. The presentation can be found on Puration's website and the presentation narrative is included in its entirety below:
Puration's Cannabis Extraction Plan In Cooperation With Greenbelt Resources
It is my opinion that Puration is a leading company today within the cannabis extraction and infusion business. Puration has the extraction expertise that goes along with the patented extraction technology we licensed and the experience that goes along with our introducing a leading cannabis infused consumer product to market. Now, with adding Greenbelt's technical resources to our expertise and experience, I believe that Puration with Greenbelt can become a prominent provider of environmentally friendly extracted cannabidol (CBD) to the large and rapidly growing market for CBD. Locating our combined operation in California, the opportunity to become a leading provider of THC extract to the legal recreational marijuana market in California presents itself as a potentially substantial bonus opportunity.
Puration is the sole licensee to U.S. Patent No. 9,199,960, entitled "METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT." The license permits Puration to produce cannabis extracts for infusion into recreational, fitness wellness, alternative medicine and beauty products.
As an extension of its extraction business plan, in March, Puration introduced EVERx CBD Infused Sports Water at Arnold Schwarzenegger's annual Arnold Sports Festival (formerly the Arnold Classic) in Columbus, Ohio. EVERx CBD Infused Sports Water is a leading CBD infused consumer product for the nutritional supplement market and is currently available at Drug Emporiums.
Puration recently completed successful tests of Greenbelt's bioethanol for use as a solvent during the extraction process. Greenbelt produced the bioethanol from brewery waste collected in its hometown, Paso Robles, California (read more about Greenbelt's core business below).
Market for CBD Extracted from Cannabis is Really Big and Getting A Whole Lot Bigger
Sources reporting on the size of the current market for CBD oil vary somewhat substantially, but all the numbers are big. I think it's safe to say, CBD is currently about a $200 million a year market. Sources forecasting the growth potential also vary widely, but a 50% CAGR is not far from an average prediction for the industry.
Here are a few articles for you to review on the size and growth opportunity of the CBD market:
California Legal Recreational Marijuana Market
While legal recreation marijuana sales start in California on January 1, 2018, our plan is to prioritize the construction of our facility first for the Global CBD market. The laws surrounding CBD are more commercially viable today than for THC. Once the extraction facility is established for CBD production, we will evaluate the THC opportunity and execute accordingly. The legal recreational marijuana market in California increasing appears quite attractive. A recent report from ArcView and BDS has increased a previous $7 billion valuation of the legal marijuana market in California by 33% to $10 billion. California is anticipated to be the largest legal cannabis economy in the U.S. However, another recent report on the legal recreation market in California suggests the market size estimates may be overstated. By focusing first on CBD where Puration has experience and where a more universally legal acceptance from federal and state authorities exists, we can avoid the inevitable turbulence of the legal recreational marijuana market rollout and will be poised to efficiently pick up the pieces when the hype settles.
Advanced Cultivation Techniques Expected To Drive CBD Industry
The Orion Research Report on the CBD industry covered in the second of the three articles above under the section on the size and growth of the CBD market indicates that advanced cultivation techniques are a driving force in the CBD industry. Advanced cultivation is another advantage that can be added to the potential of Puration and Greenbelt's extraction engagement. Earlier this year, Puration acquired a 25 greenhouse grow operation as a first step in building cultivation capacity and expertise.
Please take some time to read more below about Puration and Greenbelt and also visit the two companies' respective websites. I hope you also will take a few minutes to look at the article links included in this presentation. It's my belief that you will come to the same conclusion I have come to. CBD is big market now with great and unfettered growth potential. The THC market is promising and needs to stay on our horizon. Puration's expertise and experience makes the company a serious contender in the cannabis extract market and with the added resources of Greenbelt, the combined potential of the two companies is a force to be reckoned with.
About Greenbelt Resources
Greenbelt Resources Corporation™ is an award-winning provider of sustainable energy production systems focused on delivering modular solutions that enable the localized processing of locally generated waste into locally consumed products. Greenbelt designs, develops and implements technology that makes the production of advanced biofuel reliable, practical and efficient. Controlled by proprietary automated controls, Greenbelt's small-scale, end-to-end modular systems convert food, beverage and other cellulosic wastes into commercially viable advanced biofuels (bio-ethanol), animal feed, fertilizer and filtered water. For more information visit www.greenbeltresources.com.
Forward-Looking Statements & Safe Harbor
This document includes certain statements, predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the supply and demand for biofuels, our ability to remain technologically competitive and other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices.
Puration is engaged in the development of standardized and repeatable cannabidiol extraction processes that can deliver a consistent and high-quality concentrate for infusion into consumer food and beverage products that appeal to the recreational and wellness market segments. For more information visit www.aciconglomerated.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.
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SOURCE Puration, Inc. & Greenbelt Resources Corporation