Kali Inc (OTCMKTS:KALY) is in discussions with Puration Inc (OTCMKTS:PURA) to divest its CBD confection assets and focus on Cannabis Biopharmaceutical Technology. It is part of its recent announcements to consolidate the business. The company develops therapies for various medical conditions and owns a US patented cannabis extraction process.
The market for cannabis biopharmaceuticals
The market for cannabis biopharmaceuticals is expected to reach $50 billion by the year 2029. Puration owns an exclusive license for the Patented Extraction Process of Kali. The company will use the extracts for infusion into its beverages. Puration has recently expanded its production to Africa, Latin America, and Europe. The company is exploring options to expand the business into the manufacture of other cannabis-infused products.
The marketing campaign for EVERx CBD Sports Water
Puration has launched the marketing campaign for its EVERx CBD Sports Water on January 15, 2020. EVERx CBD is one of the leading cannabidiol infused beverages in the sports nutrition segment after its launch three years ago. Puration is distributing EVERx in the US, Africa, Latin America, and Europe.
Puration expects to achieve $8 million in revenues
Puration is expected to post revenues of $8 million in 2020. The company plans to achieve this target by introducing white label cannabis-infused beverages. It is expanding the bottling capacity of the beverages to clinch a large pie of the global market for cannabis beverages.
Puration has already achieved expanded production and putting in efforts to bag more contracts for its white-label cannabis-infused beverages. It expects to get more contracts in the next 3 months for beverages and issue revenue guidance for 2020.
Puration already confirmed the revenue target for last year at $4 million. It has set a revenue target of $8 million for 2020. The new revenue target is based on the launch of Puration designed innovative beverages and the sales of EVERx CBD Sports water.
Puration entered into partnerships in Africa and Canada and announced acquisitions in Latin America and Europe. The takeovers and partnerships help the company to improve its potential rather than just expanding and improving its in-house production.
The demand for CBD beverages is expected to reach $1.4 billion by the year 2023.
Planet 13 Holdings Inc. (OTCMKTS:PLNHF) Signs Purchase Agreement To Acquire 45,000 Sq. ft. Facility In Nevada
Post Views: 119 Planet 13 Holdings Inc. (OTCMKTS:PLNHF) announced the signing of an asset purchase agreement subject to which it...
Indus Holdings Inc. (OTCMKTS:INDXF) Terminates Its Pending $20 million Acquisition Agreement Of W Vapes Assets
Post Views: 149 Indus Holdings Inc. (OTCMKTS:INDXF) announced termination of its impending acquisition of W Vapes assets that was announced...
1933 Industries Inc. (OTCMKTS:TGIFF) Introduces Pre-roll Joints And Smokable Cannabis Flower In Nevada
Post Views: 137 1933 Industries Inc. (OTCMKTS:TGIFF) announced addition of pre-joint rolls and high-quality smokable flowers to its growing consumer...
Cannabis Pharmaceuticals Inc. (OTCMKTS:CNBX) Initiates Expansion Of Its Cannabinoid Diagnostic Platform Tests In Europe
Post Views: 66 Cannabis Pharmaceuticals Inc. (OTCMKTS:CNBX) commenced expansion in the European markets to offer cancer patients tailored cannabinoid treatment...
Generex Biotechnology Corporation (OTCMKTS:GNBT) Submits Pre-IND For Ii-Key-SARS-CoV-2 Vaccine To The FDA
Post Views: 201 Generex Biotechnology Corporation (OTCMKTS:GNBT) submitted a Pre-IND update to the FDA outlining its proposed Phase I/II clinical...
cbdMD Inc. (NYSEAMERICAN:YCBD) Protecting Its CBD Technologies Through Patents and expands Partnership With Bellator MMA
Post Views: 310 cbdMD Inc. (NYSEAMERICAN:YCBD) announced an extension of the exclusive Official CBD marketing partnership with ViacomCBS’s wholly-owned subsidiary...