Cannabis company Puration Inc. PURA announed Friday the sale of its cultivation business.
The Dallas-based company had previously spun-off the segment in a deal with Nouveau NOUV, in exchange for common stock. That deal has been canceled.
Instead, Puration has opted to merge the cultivation business with NCM Biotech, a subsidiary of Kali-Extracts KALY.
NCM Biotech specializes in the research and the development of treatments derived from its patented cannabis extraction process.
The common stock will be issued to Puration's shareholders in a dividend distribution at a ratio one-for-one.
In January, Puration and Kali-Extracts started negotiations about a prospective purchase of Kali-Extracts' CBD confection assets.
Two months later, Puration confirmed that the acquisition was underway.
Meanwhile, driven by estimations that the CBD pet products market in the U.S. could reach $1.16 billion over the next two years, Puration has made an offer to purchase an unspecified CBD pet products operation earlier this year.
Courtesy photo
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving—don’t get left behind!
Curious about what’s next for the industry and how to stay ahead in today’s competitive market?
Join top executives, investors, and industry leaders at the Benzinga Cannabis Capital Conference in Chicago on June 9-10. Dive deep into market-shaping strategies, investment trends, and brand-building insights that will define the future of cannabis.
Secure your spot now before prices go up—this is where the biggest deals and connections happen!
