Puration Inc (OTCMKTS:PURA) has really been off our radar since the summer, but the company surged up +30% today. PURA’s return to our radar was courtesy of an LOI with Greenbelt Resources to operate a cannabis extraction facility.
When operational, the facility will serve the local legal recreation cannabis market and the CBD oil market where legal. PURA has licensed a patented process for extracting cannabinoids from the cannabis plant. As an extension of its extraction business plan, in March, the conpany introduced EVERx CBD Infused Sports Water at Arnold Schwarzenegger’s annual Arnold Sports Festival in Columbus, Ohio. EVERx CBD Infused Sports Water is currently available at Drug Emporiums.
Puration Inc (OTCMKTS:PURA) bills itself as a company that has been a water purification company. PURA is involved in the design, development, engineering, production, marketing, and distribution of personal and group systems that filter, purify, clean, extract or otherwise improve the quality of water on a cost effective, affordable basis, with a minimum of environmental impact.
PURA operates a U.S. Patented Cannabis Extraction process and sells its extracts for infusion into a variety of consumer products to include beverages, foods, nutritional supplements and cosmetics.
Resulting from their own design and engineering, the company’s water purification systems include personal water filter bottles, collapsible water pouches, replacement filters, and travel filters.
PURA continues to strengthen its cannabis infused beverage business as part of an effort that seeks to accelerate revenue growth. The business currently consists of in-house EVERx beverage line in addition to the company providing extracts for third party beverages. Puration has inked a partnership with North American Cannabis Holdings for the development of its own AmeriCanna Café line of cannabis infused beverages.
“Puration plans to develop its own proprietary strains of Hemp and Marijuana within the acquired greenhouse operation in order to enhance the Company’s existing extraction business,” PURA said in a statement.
In the past, the acquisition of the 25 greenhouses grows operation remains the company’s biggest investment as it moves to pursue growth opportunities in the cannabis industry. In addition to strengthening the PURA cannabis portfolio, the greenhouses will help the company generate monthly income.
The company is currently working on expanding production to 400 irrigated pads which should lead to annual sales of up to $100 million. PURA is ramping up production efforts on growing optimism that the legal cannabis industry could be worth more than $20 billion by 2021. The new greenhouses are located in regions of East Texas. The state has also approved medical marijuana paving way for one of the fiercest battles for market share as the race for sales heats up.
According to the release, PURA recently completed successful tests of Greenbelt’s bioethanol for use as a solvent during the extraction process. Greenbelt produced the bioethanol from brewery waste collected in its hometown, Paso Robles, California. Brewery waste, along with other waste-based feedstocks, are targeted for use in Greenbelt’s Paso Robles ECOsystem (PRECO), a waste-to-energy interconnected system (ecosystem) that will produce 500,000 gallons of bioethanol from a variety of local feedstocks.
Now commanding a market cap of $1.75M, PURA has an interesting deal in the works here. The CBD Oil market has serious big money potential. As more color becomes clear on the name, we will review the situation and update our take. For continuing coverage on shares of $PURA stock, as well as our other breakout stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $PURA, either long or short, and we have not been compensated for this article.