Sandusky, OH — Puration, Inc. (OTC Pink: PURA) and PAO Group, Inc. (OTC Pink: PAOG) announced the closing of a transaction today whereby PAOG has acquired an exclusive license to a patented cannabis extraction process from PURA that will expand 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.
PAOG acquired the license from PURA in exchange for a royalty to be received by PURA.
PAOG and PURA are partnering on the development of CBD infused products to be marketed under the Farmersville Hemp brand name.
For more information on Puration, visit http://www.purationinc.com
Learn more about PAOG at www.paogroupinc.com.
Disclaimer:
This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any these statements. You are cautioned not to place undue reliance on any those forward-looking statements. Except as otherwise required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements after the date of this news release. None of such forward-looking statements should be regarded as a representation by us or any other person that the objectives and plans set forth in this News Release will be achieved or be executed.
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