Puration Inc (OTCMKTS:PURA) will publish transaction details on the proposed merger of its subsidiary Nouveau and Kali-Extracts NCM Biotech subsidiary. The publication will include details on how the delay in issuing dividend to PURA shareholders will be resolved.
PURA has spun off its cannabis cultivation business to NCM Biotech in an effort to concentrate on its CBD infused products business. The transaction will include an offer of dividend of NOUV stock to PURA shareholders. The company had initially relocated its cannabis cultivation operation to a new location from its former property. This is in response to booming cannabis business in Texas. State lawmakers recently implemented cannabis-friendly regulations that led to an increase of hemp farming research programs in universities.
NCM Biotech’s patented cannabis extraction process
PURA has been jointly working with Kali-Extracts’ (KALY) NCM Biotech subsidiary to develop a proprietary cultivar to support NCM Biotech’s patented cannabis extraction process used to produce various medical treatments. The two companies are working on a plan to merge the two operations.
NCM Biotech specializes in medical research plus the development of treatment options using its patented cannabis extraction process.
The merger will be executed by the same public company that will acquire NCM Biotech from KALY and PURA’s cannabis cultivation spinoff. The deal will involve exchange of common stock with the acquiring public company.
PURA to acquire CBD infused sexual wellness product line
PURA announced plans to acquire a CBD infused sexual wellness product line. The global sexual wellness market is projected to reach $39 billion by 2024. As part of its strategic plan to spread its wings across various CBD infused businesses, the company has acquired a CBD infused sun care product business. This was the company’s third acquisition since the start of the year. The acquisition plan is attracting a large market by investing in creative and promising companies in the industry. In addition to a sun care acquisition, the company acquired a CBD pet products company and a CBD confections company.
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