Dallas, Texas--(Newsfile Corp. - July 15, 2020) - Puration, Inc. (OTC Pink: PURA) today confirmed plans to with PAO Group, Inc. (OTC Pink: PAOG). Yesterday, PAOG announced a management takeover in conjunction with a revitalization of its medical cannabis strategy. The revitalization strategy includes an acquisition of PURA's cannabis cultivation spinoff. PURA has previously spun off its cannabis cultivation spinoff to Nouveau (NOUV) in a deal that included a stock dividend to PURA shareholders. PURA is now unwinding the NOUV transaction and moving forward with PAOG in a deal structured to include a dividend distribution of PAOG stock to PURA shareholders. The PURA and PAOG transaction is anticipated to be executed by the end of July.
PAOG also intends to acquire NCM Biotech from Kali-Extracts, Inc. (KALY). NCM Biotech is focused on medical research and the development of treatments derived from its patented cannabis extraction process.
For more information on Puration, visit http://www.purationinc.com.
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
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