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DALLAS, Aug. 16, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Puration, Inc. (USOTC: PURA) (“PURA”) today announced a management update scheduled for release next Thursday, August 22, 2019.
“The company is making substantial expansion strides with brand new production capacity for its existing CBD infused sports nutrition beverage now coming on line, and new cannabis sector beverages in various stages of launching,” said Brian Shibley, CEO of Puration. “We filed an extension yesterday to give the company a few more days to make sure all updates are included in the 2019 Q2 financial report. The updates will include a substantial step forward on the pending dividend issuance of NOUV stock to PURA shareholders as well as the standard financial reports. I am pleased with the company’s progress and excited for shareholders to see the report. On Thursday, I will publish an update to supplement and elaborate upon the 2019 Q2 financial report. It is our intention to publish the 2019 Q2 report prior to the update on Thursday, August 22, 2019.”
The company has announced a $4 million revenue target for 2019. The company broke $1 million in sales for the 2018 fiscal year. The company demonstrated over a $1 million base annual revenue run rate in Q1 2019. The company also announced a new $1.5 million order to produce private labeled CBD water that represents sales above and beyond its current distribution network sales. The company has made multiple announcements since the end of Q1 regarding the addition of new distributors to its distribution network. In addition to the standard financial information to be disclosed in the 2019 Q2 financial report and the NOUV dividend distribution accounting update that will also be included in the report, PURA management plans to concurrently make an announcement on Thursday regarding the company’s CBD beverage sales expansion in Europe.
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.