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Puration and Greenbelt Resources Announce Plan to Issue Stock Dividend in New Cannabis Extraction Spinoff to Shareholders of Both Companies
Puration and Greenbelt Resources Announce Plan to Issue Stock Dividend in New Cannabis Extraction Spinoff to Shareholders of Both Companies.
About this update from Greenbelt Resource Corporation
[{"type":"text","content":"\n\n\n\nPuration and Greenbelt Resources Announce Plan to Issue Stock Dividend in New Cannabis Extraction Spinoff to Shareholders of Both Companies\n\n\n\n\n\nPuration and Greenbelt Resources Announce Plan to Issue Stock Dividend in New Cannabis Extraction Spinoff to Shareholders of Both Companies\nPR Newswire\nDALLAS, January 16, 2018\n\n\n\nDALLAS, January 16, 2018 /PRNewswire/ --\n\nPuration, Inc. (OTC: PURA) (Puration) and Greenbelt Resources Corporation (OTC: GRCO) (Greenbelt), in a further update to their letter of intent agreement announced last month, today announced plans to issue stock in an independently listed new cannabis extraction operation through a stock dividend distribution to the shareholders of both companies. The new company is intended to result from an alliance between Puration and Greenbelt to build and operate a cannabis extraction operation. Puration plans to structure its extraction capacity into a new subsidiary and through the new subsidiary, enter into an alliance with Greenbelt that leverages its expertise in, and supply of, bioethanol. The next step will be to spinoff the cannabis extraction subsidiary in conjunction with a Regulation Crowdfunding transaction to capitalize the new company. In conjunction with the spinoff, the new company plans to distribute a stock dividend to the shareholders of both Puration and Greenbelt.\n\nPuration recently published an online presentation on the company's website highlighting the details on the company's initial plans to jointly develop a cannabis extraction operation Greenbelt.  \n\nAbout Greenbelt Resources \n\nGreenbelt Resources Corporation™ is an award-winning provider of sustainable energy production systems focused on delivering modular solutions that enable the localized processing of locally generated waste into locally consumed products. Greenbelt designs, develops and implements technology that makes the production of advanced biofuel reliable, practical and efficient. Controlled by proprietary automated controls, Greenbelt's small-scale, end-to-end modular systems convert food, beverage and other cellulosic wastes into commercially viable advanced biofuels (bio-ethanol), animal feed, fertilizer and filtered water.\n\nFor more information visit http://www.greenbeltresources.com.\n\nForward-Looking Statements & Safe Harbor...