Business
PURA $1.5 Million Contract To Produce Private Labeled 25 mg CBD Beverage Moves Company Closer To 2019 $4 Million Revenue Target
PURA $1.5 Million Contract To Produce Private Labeled 25 mg CBD Beverage Moves Company Closer To 2019 $4 Million Revenue Target.
About this update from Nouveau Life Pharmaceuticals, Inc.
[{"type":"text","content":"\nDALLAS, June 19, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE --  Puration, Inc. (USOTC: PURA) (”PURA”) management today emphasized that the $1.5 million contract to produce a 25 mg CBD beverage for which production initiated yesterday, represents new revenue on top of the company’s ongoing sales accounting for over $1 million in annualized revenue.  The $1.5 million contract to produce the private label beverage is a major step toward PURA’s 2019 target of reaching $4 million in revenue.  \n With Kali-Extracts, Inc. (aka Kali, Inc.) (USOTC: KALY) (“KALY”) bringing their CBD extraction expertise based on the U.S. Patented Cannabis Extraction process that they own and operate, PURA has initiated production of a new beverage infused with 25 mg of hemp derived CBD.  Most CBD infused beverages contain only 5 mg of CBD with a few containing 10 mg.  Beverages with 25 mg of CBD are hard to find.  PURA has been producing a CBD infused sports water infused with 10 mg of CBD since 2017.  PURA markets and sells the CBD sports water under the brand name EVERx and achieved over $1 million in sales in 2018.  PURA has the sole license of KALY’s U.S. Patented Cannabis Extraction Process.  PURA and KALY have partnered on the development of a CBD extraction that can support a clear and sustained suspension at the 25 mg level.  As of today, the production of a 25 mg CBD beverage has been initiated for production at a Texas facility.  Texas Governor Greg Abbott signed a new law last week legalizing hemp and hemp-derived products.  The 25 mg CBD beverage is being produced in fulfillment of a $1.5 million contract where PURA is producing the beverage under a private label for a third party.  PURA has in turn engaged KALY for its extract expertise. PURA Speculative Buy Recommendation and $0.25 PPS Target w/Potential to $0.35 Goldman Small Cap Research has released a new research report recommending PURA as a Speculative BUY with a $0.25 PPS Target.  Goldman Small Cap Research further reports that the shares of PURA “have the potential to reach the $0.35 mark.”  The report highlights PURA’s growing EVERx CBD Sports Water sales and the coming introduction of new beverages as well as the potential for the company ...