Dallas, TX, Aug. 12, 2021 (GLOBE NEWSWIRE) -- Puration, Inc. (OTC PINK: PURA) today published an update on its progress in the execution of the company’s strategic transition to focus fulltime on its new Farmersville Hemp Brand business model. The update, included it in its entirety below, cover’s the rolls Alkame Holdings, Inc. (OTC PINK: ALKM) and North American Cannabis Holdings, Inc. (OTC PINK: USMJ) play in the transition plan, in addition to an update on PURA’s business relationship with PAO Group, Inc. (OTC PINK: PAOG):
PURA’s Farmersville Brands Update
PURA entered the cannabis business sector in 2015 when it acquired its first cannabis asset, a patented extraction process, from USMJ. USMJ entered the cannabis sector in 2014. Colorado legalized recreational cannabis use in 2012. In connection with Colorado’s legalization, one might say, 2012 was the onset of the entrepreneurial cannabis sector in North America. As we enter the second half of 2021, we’re close to reaching the 10-year anniversary of the entrepreneurial cannabis market sector.
2018 was a big year for the cannabis sector with the legalization of recreational marijuana in Canada and the legalization of hemp cultivation in the United States. The next major milestone anticipated to move the entrepreneurial cannabis business sector forward is the legalization of recreational marijuana in the United States. However, that horizon is struggling to dawn. No clear timeframe can be deduced. Investor enthusiasm for the sector is on simmer, and a corresponding consolidation, if not elimination, of entrepreneurial cannabis initiatives is well underway.
Even the Farm Act that legalized hemp cultivation in the U.S. has had lack luster results with a lack of detailed clarity for the actual practice of hemp cultivation and what you do with it once its harvested, not to mention the legislative reactions to the Farm Act from various states that have clouded the immediate future of hemp even further.
At PURA, despite the failure of the 2018 milestones in the cannabis sector to ignite critical mass in the industry, we still firmly believe in the future of cannabis in all shapes, forms, and applications. Implementing a strategy to weather the indefinite journey from here to a robust legalization of cannabis in all shapes, forms and applications is the trick.
We believe the right strategy to weather the indefinite journey to a definite objective is a strategy that 1. contributes to moving the industry forward, 2. can move forward on resources that can realistically be sourced in a less than robust investment market, and 3. contains a clear, differentiated, and defensible asset that can deliver hockey stick appreciation once the market finally dawns.
PURA has the advantage of flexibility that stems from its controlling shareholder ACI Conglomerated when it comes to updating and implementing a sound strategy in reaction to changing market conditions. ACI owns control of three public holding companies currently dedicated to the cannabis sector. PURA’s transition is being executed in conjunction with ACI and its sister companies, USMJ and Priority Aviation, Inc. (PJET).
ACI acquired control of PJET (OTC PINK: PJET) in 2017 and PJET acquired a cannabis asset that in the end, lost the wind in its sales, before it ever gained a glimmer of sustainable momentum.
ACI is executing a series of transactions to consolidate the majority of any cannabis assets held across the three public companies it controls, PURA, USMJ and PJET, all under USMJ. ACI is working on the development of a new business initiative outside of the cannabis sector for PJET. As PJET’s new opportunity advances, PJET will make its new business initiative public. PURA will soon finalize a transition of the ongoing operation of its EVERx CBD Sports Beverage to USMJ. USMJ will later and separately present its business plan as a diversified consumer cannabis products distributor. PURA will advance its new Farmersville Hemp Brands business.
PURA has acquired 70 acres in Farmersville, Texas as the cornerstone of the Farmersville Hemp Brand strategy.
PURA is building a physical training, education, and marketing facility on the 70 acres where the company will conduct hands on hemp experiences to introduce corporate clients to all the uses of hemp from the extracts to the fibers. The Farmersville hemp experience will, for example, make corporate builders aware of the efficiencies of hemp fiber incorporated into construction, and manufactures aware of the strength and durability of hemp resin, and nutraceutical and pharmaceutical companies award of the benefits of hemp extracts.
PURA is breaking ground on the 70 acres facility this summer.
PURA plans to build Farmersville Hemp Brand partnerships with hemp growers and processers where the Farmersville Hemp Brand becomes a conduit to market for the partner growers and processors products and services to be initially sold through the hemp experience, and as the market matures, under the Farmersville Hemp Brand name.
ALKM currently bottles PURA's EVERx CBD Sports Water. As part of a growing partnership, PURA has recently acquired a five percent stake in ALKM. As EVERx completes its transition to USMJ, ALKM will continue as the bottler for EVERx.
USMJ has marketed and distributes PURA’s EVERx CBD Sports Water from its USMJ.com ecommerce site. As the EVERx transition to USMJ finalizes, PURA will receive a royalty on future sales of EVERx now managed by USMJ.
PURA sold a business operation to PAOG last year and an intended distribution of PAOG stock to PURA shareholders in conjunction with the sale is in the works.
As construction soon advances in Farmersville, PURA will issue additional updates on the progress of its new Farmersville Hemp Brands business developments.
For more information on Puration, visit http://www.purationinc.com
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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 Alkame will achieve significant sales, the failure to meet schedule or performance requirements of the Company's contracts, the Company's liquidity position, the Company's 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.