Market Reaction To Contest Could Fuel Upward Forecast Revision
Dallas, TX – August 19, 2016 – Puration, Inc. (PURA) today announced the online, social media driven contest launched by the Company in conjunction with Spanish Peaks ScrumpDelicacies to invite name proposals for a cannabis beverage to be produce as part of a recent $1 million collaboration agreement between the two companies, has had the additional benefit of generating interest from a number of existing edible companies already selling cannabis infused foods and beverages.
“We believed the name contest is a fun way to include consumers in the development of a cannabis beverage with a ready market,” Said Brian Shibley, the CEO of Puration. “It turns out Puration’s very focused business model to simply produce the gold standard in cannabis extractions for our client food and beverage companies to infuse into their products is a service the existing edible industry has been looking for and has yet to find. The social media name contest put Puration on the map and edible companies are calling us. We have entered into a number of new contract development opportunities to provide cannabis extracts and begun to reconsider our initial forecast assumptions. I think our conservative estimate of the market opportunity for our cannabis extracts was possibly an underestimate.”
Learn more about the name contest that has driven existing edible company interest:
To learn more about Puration: http://www.purationinc.com
Follow Puration on Twitter: https://twitter.com/Puration710
Visit Puration on Facebook: https://www.facebook.com/puration/
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Brian Shibley, CEO