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PURA to Close Acquisition of CBD Sun Care Firm on June 4
Friday 29 May 2020

Texas, US-based cannabis company Puration, Inc. (OTC: PURA) plans to close the acquisition of a CBD infused sun care product business next week on June 4, 2020, the company said.

PURA targets CBD product acquisitions that can be enhanced with PURA's patented technology. PURA owns a license to a US Patented cannabis extraction process backed by extensive university medical research.

The license, issued by NCM Biotech, is exclusive for beverages, edibles and cosmetics among other uses. NCM Biotech is focused on medical research and Puration has access to that research.

See a recent research report on CBD extracts derived from NCM Biotech's patented extraction process: Journal of Cannabis Research.

The global market for sun care products is USD 8.5bn TODAY and anticipated to reach over USD 10bn by 2024.

In January of this year, 2020, PURA launched a campaign to acquire CBD beverage, edible and topical businesses to include CBD businesses that targeted pet products.

The campaign was intended to target a robust market of creative and promising young companies starved for investment in the waning 2019 cannabis capital market.

PURA has acquired a CBD confections company and a CBD pet products company so far this year.

In February, PURA secured a USD5 m investment to fund. The USD5 m investment is structured as debt facility whereby funds can be drawn as needed to fund acquisitions.

The drawn funds would be secured by the acquired asset and the debt can be repaid in stock at USD 0.10 per share.

PURA said its management is actively pursuing additional investment to increase the potential of the current acquisition campaign.
Date Published: 29/05/2020