Sandusky, OH, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Puration, Inc. (OTC Pink: PURA) and PAO Group, Inc. (OTC Pink: PAOG) today confirmed the companies have finalized terms for PAOG to acquire an exclusive license to a patented cannabis extraction process from PURA that will expand the PAOG’s existing CBD intellectual property.
Last year, PAOG acquired intellectual property derived through research into CBD extracted in association with a patented extraction method (U.S. Patent No. 9,199,960). Now the company will acquire a license to the patent itself from PURA.
PAOG is developing both pharmaceutical and nutraceutical treatments for humans based on this intellectual property.
PURA has updated its business model over the course of the last year and is now focusing on the development of a hemp business cooperative under the brand name Farmersville Hemp. PURA has recently detailed its new business model and three anticipated sources of revenue. PURA has provided an initial, estimated $1 million forecast for 2022 and highlighted how its “partnership” revenue stream may contribute to a substantially exceeding the initial estimated forecast:
The acquisition is expected to close this Friday, on December 3rd.
For more information on Puration, visit http://www.purationinc.com
Learn more about PAOG at www.paogroupinc.com.
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