Puration Inc. (OTCMKTS: PURA) and PAO Group Inc. (OTCMKTS: PAOG) has closed a transaction under which PAOG acquired an exclusive license to a proprietary cannabis extraction process from Puration that will enhance PAOG’s current CBD intellectual property
PAOG acquired patented IP from Puration
PAOG acquired IP resulting from CBD extraction research in conjunction with a patented extraction technology (US Patent No. 9,199,960) last year. The corporation will now purchase a patent license directly from PURA. PAOG is using this intellectual property to create nutraceutical and pharmacological treatments for humans.
Over the past year, PURA has modified its business strategy and is now focusing on building a hemp business cooperative under the Farmersville Hemp brand. PAOG bought the license from PURA in exchange for a royalty that PURA would receive.
Puration expects hemp revenue of $1 million
Puration also announced that it expects revenue of $1 million in 2022 for the hemp business with an upside revenue potential of $10 million by the end of next year. The company is focusing on the industrial hemp market through the cooperative branding strategy based mainly on the sustainability potential of hemp. Interestingly, the company has established a new business model to create an industrial hemp enterprise with three revenue sources: education, partnerships, and branding.
As PURA’s license revenue grows from the continuous sales of EVERx CBD Sports Beverage retailed by North American Cannabis Holdings Inc. (OTC Pink: USMJ) under a licensing contract with PURA, the company’s business model is becoming clearer. In addition, PAOG has launched its “RX” brand CBD nutraceutical goods for sale direct to consumers on www.usmj.com, boosting PURA’s licensing revenue.
By 2028, the CBD industry alone is estimated to be worth $13 billion, while the Green Technology and Sustainability Market is expected to rise from $9 billion in 2021 to $41 billion by 2028. By 2026, the industrial hemp business, which includes the CBD derived only from hemp, is expected to be worth $18 billion. Puration has an initiative of creating hemp growers and processors cooperative, allowing them to sell under a single brand.
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