Puration Inc (OTCMKTS:PURA) on August 12, 2021, confirmed updates on progress in the execution of its strategic transition on focusing completely on the Farmersville Hemp Brand business model. The update cover’s the rolls Alkame Holdings, as well as North American Cannabis Holdings, play in the transition plan.
This will be in addition to PURA’s business relationship with PAO Group. The company had ventured into the cannabis sector in 2015 after the acquisition of the first cannabis asset from USMJ. USMJ ventured into the cannabis sector in 2014 with Colorado legalizing recreational cannabis in 2012.
In 2018, the cannabis sector witnessed the legalization of recreational marijuana in Canada as well as hemp cultivation in the United States. The Farm Act legalizing hemp cultivation in the US had below-par results without much clarity on the actual practice of hemp cultivation.
PURA is making physical training as well as marketing facility on 70 acres land of Farmersville. It aims to have partnerships with hemp growers as well as processors.
Paog had acquired business operations from PURA and the distribution of PAOG stock to shareholders is in the works. Presently, ALKM bottles PURA’s EVERx CBD Sports Water as PURA had acquired a five percent stake in ALKM. PURA will be receiving a royalty on sales of EVERx managed by USMJ.