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Puration Announces $1.2 Million Sales Contract Adding to Existing Cannabis Extraction Business With Expansion Potential to $16 Million Annually

Puration, Inc. (USOTC: PURA) today announced a $1.2 million sales contract. The sales contract comes in conjunction with PURA's recently announced letter of intent (LOI) agreement to acquire a twenty-five greenhouse grow operation. The sales contract calls for a wholesale purchase of all PURA's production from the 25-greenhouse operation up to $100,000 per month. The acquisition under LOI is expected to close before the end of this month and include expansion terms that could lead to the addition of another 400 irrigated greenhouse pads ready for buildout.

Potential for expansion to $16 million in annual sales and beyond

The $1.2 million sales contract will be fulfilled from the production coming from the operation of the 25 greenhouses currently under LOI. The operations under LOI have historically grown and sold traditional greenhouse flowers for use in residential landscaping. The original nursery operation had a long history that includes contracts with Lowes (LOW) and Home Depot (HD). Puration plans to use proceeds from the traditional nursery operation to expand the operation into its full 400 greenhouse potential. The operation is located in regions...