Puration has announced its first shipments of EVERx CBD Infused Water with redesigned labels are beginning to ship with the first bottles anticipated to hit shelves next week.
Image: Redesigned EVERx CBD infused water packaging. Photo: courtesy of PRNewswire / Puration, Inc.
Puration last week reported 400% revenue growth year to date with sales of $868,300 and $448,800 bottom line.
With two new products in addition to EVERx coming out soon, Puration anticipates accelerated growth in 2019.
Separately, Puration announced that Nouveau Life Pharmaceuticals has formally declared a 1:5 stock dividend whereby NOUV common stock will be issued to the shareholders of PURA at a ratio of one NOUV common share for every five shares of PURA held on the yet to be determined date of record.
The NOUV board of directors as resolved to restructure NOUV and issue the stock dividend to PURA shareholders in conjunction with PURA’s spinoff of its cannabis cultivation business to NOUV announced October 4, 2018.
Subject to necessary regulatory and administrative authority approvals, NOUV plans to set a date of record for the dividend for approximately 30 days from now, and a pay date just after the first of next year.
On October 4, 2018, PURA sold its cannabis cultivation business to NOUV in exchange for a $1.2 million convertible note with a commitment that the note would promptly be converted to common shares of NOUV and that those converted shares would be distributed in a stock dividend to the shareholders of PURA.
As of today, NOUV has resolved to execute a 1:400 stock reverse and immediately thereafter issue sufficient shares in fulfillment of the $1.2 million convertible note whereby PURA shareholders will receive one post reverse common share of NOUV for every five shares held of PURA. NOUV has already made substantial progress toward resolving its current financial reporting delinquency.
NOUV anticipates having its financial reporting current within the next two weeks. Subsequently, NOUV will file with FINRA to affect the declared reverse split and stock dividend.
OUV plans to keep NOUV and PURA shareholders up to date on the stock dividend process, in addition to updating shareholders on the new post cannabis cultivation business acquisition plans from a new corporate website anticipated to launch next week.
With the updated website, NOUV’s communication contact information will also be updated.
Source: Company Press Release