Puration Inc (OTCMKTS:PURA) has announced that Cramer cannabis beverages from the company have attracted a good response from the market of Canada. Cramer is a type of cannabis infused beverage and is one of the most popular CBD infused drinks in the market of sports nutrition. The company is now coming out with a wide variety in its Cramer brand and is also planning to add THC beverages for the legal marijuana Canadian market.
Just a few weeks ago PURA acquired a business belonging to the Canadian market with the intention to establish its reach in the country.
PURA reports increase in EVERx CBD Infused Sports Water sales
As per the report, the sales of EVERx CBD Infused Sports Water increased in this year’s first quarter. The company will soon introduce a beverage infused with THC called THCSavor. The company is also planning to spin-off marijuana cultivation business. Instead it is diverting all its attention towards expanding the operations of cannabis-infused beverages. As a part of its spin-off plan, the company will distribute a dividend for the stock in the cultivation of marijuana spinoff to the company’s shareholders. The management is expected to make an announcement related to it in the upcoming week and will also throw more light on the spinoff.
According to the management of PURA, they have already received a good number of proposals and inquiries from strategic investors who are interested in exploiting the cannabis-infused beverage foundation of Puration in the Canadian market.According to the CEO of Puration, Brian Shibley, “In light of the interview and our market research, I believe Puration is a step ahead of the rest of the would-be competitors when it comes to cannabis-infused beverages.”
Cannabis market to witness major expansion
Reports indicate that in the years to come the global legal cannabis market will expand in a major way and might hit the annual sales mark of $57 billion. Now that Canada has legalized recreational marijuana most of the companies in the industry are gearing up so that they can take advantage of the legalization.
Puration along with North American Cannabis Holdings Inc (OTCMKTS:USMJ) are the leading companies who are gearing up to reap the benefits of these changes and developments in the cannabis market. The two companies have already come up with a strategic plan, details of which will be revealed to their shareholders through a letter from the two companies.