Puration Inc Announces 30 Percent Stake in Cannabis Pharmaceutical Company Pursuing $50 Billion Market Opportunity
DALLAS, Nov. 09, 2018 (GLOBE NEWSWIRE) — via OTC PR WIRE — Puration, Inc. (USOTC: PURA) (“PURA”) today announced securing a thirty percent (30%) interest in US Cannabis Health LLC, a new company established in partnership with Kali, Inc. (USOTC: KALY) (“KALY”) and Nouveau Life Pharmaceuticals, Inc. (USOTC: NOUV) (“NOUV”). The three companies have each contributed assets in exchange for respective 30% stakes in US Cannabis Health which has been set up to develop cannabis pharmaceutical and wellness therapies estimated to be a $50 Billion market by 2029. A reserve of 10% equity is set aside for a US Cannabis Health management team yet to be selected.
Hosted by PURA at their corporate headquarters, management from the three companies met this week in Dallas, Texas to finalize plans for US Cannabis Health. The meetings were held in conjunction with KALY finalizing the acquisition of NCM Biotech. KALY and NCM Biotech expect to imminently make a formal announcement of the acquisition closing.
An online presentation was recently released detailing the contributions of each of the three corporations to US Cannabis Health. The presentation included an overview of the business plan for US Cannabis Health going forward.
Learn more about Puration at https://www.purationinc.com/
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company’s actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.
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