Puration Inc (OTCMKTS:PURA) shares rose 39.67% on Friday to $0.0642 then retreated 3.50% in after-hours trading to $0.0022. The company has a market cap of $2.30 million at 86.45 million shares outstanding. Share prices have been trading in a 52-week range of $0.00 to $0.09.
Formerly Southwest Resources Inc, Puration Inc was primarily a water purification company that designs, develops, engineers, produces, markets and distributes personal and group systems that filter, purify, clean or extract water. It has developed, acquired and licensed technology in the fields of water filtration and purification and its operations consist of the design and production of personal-use water filter bottles and other containers. These water purification systems include personal water filter bottles, collapsible water pouches, replacement filters and travel filters. Puration Inc also sells a range of water filtration products on consignment through retailer and markets its existing inventory of reusable filtered water bottles. More recently, the company is in the process of developing new business opportunities focusing on the Cannabis Extractions Sector.
Just a few days ago, Puration Inc unveiled its $3 million first year revenue plan which consisted of details on its operational plans and sales and marketing focus.
Through research and industry experience, various cannabis extracts have demonstrated a variety of effective pharmaceutical, wellness and recreational applications. Puration has identified specific extracts applicable to targeted wellness and recreational applications and initiated development and production,” the plan indicated.
Puration Inc plans on achieving this by building and operating and continuously expanding in-house extraction facilities and continuously improving its extraction process through independent research and experience, and through research and experience with select extraction partners. It shared that it was able to enter negotiations with a number of food and beverage consumer product companies regarding collaborations to infuse a co-branded Puration extract, with each agreement estimated to yield $1 million dollars within the first year.
Three of these collaboration agreements are expected to begin promptly. Recall that Puration Inc is targeting an initial $1 million in 2017 sales of EVERx CBD infused water, as the bottled water market was valued at US $157.27 billion in 2013 and is expected to reach US $279.65 billion by 2020, according to Transparency Market Research . Aside from that, the company has partnered with North American Cannabis Holdings to come up with a beverage under the North American Cannabis Holdings EVERx Sports and Fitness Nutritional Supplement Brand Name.
Puration Inc is also looking into more deals with other companies throughout the course of the year as the cannabis sector continues to flourish. Last week, the company announced anticipating additional potential sales not currently accounted for in this revenue plan. Among these are the latest acquisition of Spanish Peaks by ML Capital Group Inc and the inclusion of Spanish Peaks into a cannabis tourism business, similar to the wineries of Napa Valley. This builds into the company’s discussions since November last year to open an extraction facility in the State of Oregon where recreational marijuana is legal.
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