Puration Inc (OTCMKTS:PURA) Stock Falls In Profit Taking: Will it Recover?

Puration Inc (OTCMKTS:PURA) on August 12, 2021, published an update on progress in executing the company’s strategic transition on focusing completely on the Farmersville Hemp Brand business model.

The updated cover’s the rolls Alkame Holdings as well as North American Cannabis Holdings, in the transition plan. This will also include its business relationship with PAO Group. The company ventured into the cannabis sector in 2015 after the acquisition of cannabis assets from USMJ. The state of Colorado legalized recreational cannabis use in 2012. 

2018 was a significant year for the cannabis sector with the legalization of hemp in the United States and recreational marijuana in Canada. The next major milestone expected will be the legalization of recreational marijuana in the US.

Pura believes that the future of cannabis in shape and application is good and hence is implementing a strategy for going through the indefinite journey. The company has the benefit of flexibility thanks to controlling shareholder ACI, which owns control of three public holding companies in the cannabis sector.

The firm had acquired control of PJET and is implementing series of transactions for consolidating the majority of cannabis assets in the three public companies. PURA has also acquired 70 acres in Farmersville, Texas for the Farmersville Hemp Brand strategy, which would be used for training, education, and marketing facility of hemp to corporate clients.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.