January 27, 2020 — InvestorsHub NewsWire — via SeekingAlpha/Pura
The U.S. CBD-infused drinks market will reach an estimated $1.4 billion by 2023, making it one of the fastest-growing segments in the overall industry.
National Restaurant Association Research Finds CBD Beverages #1 Hottest Food Trend.
PURA is among First-To-Market with CBD Beverages with fast-growing EVERx Brand.
PURA early CBD beverage sales already soaring and expected to hit $4 million in 2019 and $16 million in 2020.
PURA adding CBD Tea and CBD Coffee.
PURA shares are $.04
Puration, Inc. recently announced it anticipates doubling its 2020 $8 million revenue target with the introduction of its new white label cannabis infused beverage bottling business. PURA last week announced entering into the white label cannabis infused beverage production sector leveraging its cannabis infused beverage formulation and production experience and its expanding bottling capacity to seize a much larger portion of the overall global cannabis beverage sector. With its expanded production capacity now in place, PURA has already started the effort to secure its first white label contracts. Management expects that within 90 days and being able to model the potential of the first white label contracts, PURA will release a more specific 2020 revenue target.
PURA has recently reconfirmed its $4 million revenue target for 2019. The original 2020 revenue target was $8 million. The two targets have been based primarily on the company’s current production and ongoing sales expansion of its EVERx CBD Sports Water. EVERx was introduced for the first time nearly three years ago at Arnold Schwarzenegger’s Arnold Sports Festival. EVERx has since expanded its Arnold Sports Festival marketing globally participating at Arnold events not just in the United States, but in Africa and Europe as well. EVERx has become the leading CBD infused beverage in the sports nutrition market sector. EVERx now has distribution in Europe, Latin America and Africa in addition to within the United States. The 2020 $8 million revenue target was based on the projection of ongoing EVERx growth and the introduction of new beverages designed by PURA.
PURA is now raising its 2020 revenue target based on a recent business model expansion. With EVERx distribution expanding into Europe, Latin American and Africa, in addition to the prospects for EVERx distribution in Canada. PURA has in the last several months expanded its production capacity through acquisition and partnership. PURA has recently announced acquisitions in Europe and Latin America and partnerships in Canada and Africa. The acquisitions and partnerships combined with PURA’s beverage formulation and production experience provide PURA with more potential than just improving and expanding upon the production of its in-house beverages. The CBD beverage market is one of the fastest growing beverage sectors anticipated to reach $1.4 billion by 2023.
For more information on Puration, visit http://www.purationinc.com
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
SOURCE: Seeking Alpha
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