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Nouveau Life Pharmaceuticals Inc is a healthcare solution company that provides non-face-to-face care services. Its product portfolio includes SILBY, Tomy, Amy, Maro, and Kiromy.

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The months-long process to sell Puration Inc.&#39;s (OTCPK: PURA) cultivation business to PAOG Group, Inc.

PAOG Closes Acquisition Of PURA&#39;s Cannabis Cultivation Operation

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Puration Inc. (OTCPK: PURA), an extraction cannabis company, announced Thursday its financial earnings for the first quarter of 2020.

Puration Posts Q1 Results, Touts 173% Revenue Spike

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The Week Ahead In Cannabis: KushCo Earnings, House Panel&#39;s Historic Hearing And More

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The&nbsp;<a href="http://www.benzinga.com/markets/cannabis/20/03/15470432/puration-kaly-confirm-m-a-deal-say-research-underway-on-cbd-coronavirus-symptoms">months-long process</a>&nbsp;to sell&nbsp;Puration Inc.&#39;s&nbsp;(OTCPK:&nbsp;<a href="http://www.benzinga.com/stock/pura/">PURA</a>) cultivation business to PAOG Group, Inc. (USOTC: <a href="http://www.benzinga.com/stock/paog">PAOG</a>) has come to an end.
The companies announced that the deal officially <a href="http://www.prnewswire.com/news-releases/pura-and-paog-cannabis-cultivation-deal-closing-today-301101249.html">closed&nbsp;Tuesday</a>. PAOG opted to acquire PURA&#39;s operation in exchange for PAOG common stock.
PAOG also confirmed its&nbsp;<a href="http://www.benzinga.com/markets/cannabis/20/01/15163003/puration-wants-to-purchase-kali-extracts-cbd-confection-assets">previously announced</a>&nbsp;intention to take over NCM Biotech from Kali-Extracts&nbsp;Inc. (OTCPK: <a href="http://www.benzinga.com/stock/kaly">KALY</a>).
Both acquisitions are part of a PAOG&#39;s goal to revitalize the company&#39;s &quot;original mission to provide patient care alternatives to traditional patient care solutions,&quot; CEO James C. DiPrima explained.
&quot;Our revitalization plan involves a complete exit of our previous endeavors and the implementation of an all new initiative through the planned acquisition of two currently operating businesses within the medical cannabis sector,&quot; continued DiPrima.
PURA announced the sale of its operation a couple of&nbsp;<a href="http://www.benzinga.com/markets/cannabis/20/07/16589518/puration-unveils-plans-for-cannabis-cultivation-deal-with-kali-extracts-ncm-biotech">weeks ago</a>, followed by PAOG&#39;s&nbsp;<a href="http://www.benzinga.com/markets/cannabis/20/07/16618688/pao-group-confirms-takeover-looks-to-acquire-puration-and-kali-extracts">confirmation</a>&nbsp;that its management team has obtained majority control of the company.
In addition, the Dallas-based company had previously spun-off its cannabis cultivation operation to Nouveau (OTC:&nbsp;<a href="http://www.benzinga.com/stock/nouv/">NOUV</a>), in exchange for common stock. However, that deal&nbsp;<a href="http://www.benzinga.com/pressreleases/20/07/n16488860/pura-first-step-toward-new-cannabis-cultivation-spinoff-deal-and-corresponding-dividend-coming-nex">has been canceled</a>.
Courtesy photo

PAOG Closes Acquisition Of PURA's Cannabis Cultivation Operation

Puration&nbsp;Inc.&nbsp;(OTCPK:&nbsp;<a href="http://www.benzinga.com/stock/pura/">PURA</a>), an extraction cannabis company,&nbsp;<a href="http://www.prnewswire.com/news-releases/pura-reports-173-q1-2020-revenue-growth-301063629.html">announced</a>&nbsp;Thursday its financial earnings for the first quarter of 2020.
The report comes about three months after Puration&nbsp;<a href="http://www.benzinga.com/markets/cannabis/20/02/15325861/puration-targets-acquisition-in-cbd-pet-market">made an offer</a>&nbsp;to buy an undisclosed CBD pet product operation.
That acquisition came&nbsp;on the heels of&nbsp;<a href="http://www.benzinga.com/markets/cannabis/20/01/15163003/puration-wants-to-purchase-kali-extracts-cbd-confection-assets">an announcement</a>&nbsp;that Puration and&nbsp;Kali-Extracts&nbsp;Inc. (OTC: KALY) are negotiating Puration&rsquo;s intention to purchase the cannabis company.
The following month, both parties&nbsp;<a href="http://www.benzinga.com/markets/cannabis/20/03/15470432/puration-kaly-confirm-m-a-deal-say-research-underway-on-cbd-coronavirus-symptoms">confirmed</a>&nbsp;the planned acquisition is underway.
Dallas-based Puration which saw its revenue&nbsp;spike&nbsp;173% year-over-year, reaching $805,000. Here&#39;s a breakdown of what the earnings report showed:
<ul>
<li>Pura&rsquo;s gross revenue was $241,790</li>
<li>Annual revenue of $2.7 million</li>
<li>That&#39;s up by 121% compared to the $1.2 million the company generated in 2018</li>
<li>A net profit of more than $200,000</li>
</ul>
The producer of EVERx CBD Infused Sports Drink also reported ordinary general expenses of roughly $130,000 per quarter.&nbsp;
Puration also said it&nbsp;plans to publish a narrative update on Friday, May 22, further revealing details regarding the first-quarter financial report and its 100% annual revenue growth outlook for 2020.
Furthermore, it will provide information on its cannabis cultivation operations related to&nbsp;Nouveau&nbsp;Life Pharmaceuticals, Inc.&nbsp;(OTC:&nbsp;<a href="http://www.benzinga.com/stock/nouv/">NOUV</a>).&nbsp;
In addition, Kali reported it had submitted a novel patent application based on its CBD formulation for relieving symptoms of COPD and related respiratory conditions.
Courtesy photo.

After an <a href="https://www.benzinga.com/markets/cannabis/19/07/14036209/the-week-in-cannabis-canopy-growth-trims-bruce-linton-congressional-hearings-on-ending-marijuana">eventful week</a>&nbsp;marked by the termination of Canopy Growth Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cgc#NYSE">CGC</a>)&#39;s Bruce Linton, the upcoming week appears to be a pretty busy one for the cannabis industry.
Here are some key events cannabis investors should keep on the radar over the next five days.
<h3>Historic House Panel Hearing</h3>
On July 10, the House Judiciary Subcommittee on Crime, Terrorism, and Homeland Security is scheduled to hold a landmark hearing to discuss cannabis laws and reform, which could potentially mean the end of prohibition in the U.S. on a federal level. The hearing, titled &ldquo;Marijuana Laws in America: Racial Justice and the Need for Reform&rdquo; could also help advance the STATES Act, which aims to protect cannabis businesses from federal prosecution, to the House floor.
Need more? <a href="https://www.benzinga.com/cannabis">Click here&nbsp;to see all cannabis news</a>.
<h3>KushCo Earnings</h3>
One of the largest providers of ancillary services to the cannabis industry, KushCo Holdings Inc (OTC: <a class="ticker" href="https://www.benzinga.com/stock/kshb#OTC">KSHB</a>) is expected to release its financial results for the third quarter of fiscal 2019 on June 9 after the market close.
<h3>Other Corporate News</h3>
On Monday, Leafbuyer Technologies Inc (OTC: <a class="ticker" href="https://www.benzinga.com/stock/lbuy#OTC">LBUY</a>) expects to close its previously announced private placement of $4.50 million worth of common stock and warrants to two institutional investors.
On Tuesday, Puration Inc (OTC: <a class="ticker" href="https://www.benzinga.com/stock/pura#OTC">PURA</a>) and Nouveau Life Pharmaceuticals Inc (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nouv#OTC">NOUV</a>) will provide an online update. Last year, Nouveau was spun off from Puration to focus on growing hemp. On July 8, Nouveau is expected to post its financial results for the last quarter and the update the following day will concern the stock dividend that Nouveau should issue to Puration shareholders under the spin-off deal.
On Wednesday, Medmen Enterprises Inc (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mmnff#OTC">MMNFF</a>) will host a ribbon cutting event at its West Palm Beach store. The event will celebrate the company&#39;s first location in Florida, as well as the partnership with Epilepsy Florida established last week.
Related Links:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/19/07/14027589/bank-of-america-remains-bullish-on-canopy-growth-despite-the-end-of-an-era">Bank Of America Remains Bullish On Canopy Growth Despite The &#39;End Of An Era&#39;</a>
<a href="https://www.benzinga.com/markets/cannabis/19/07/14035409/opinion-surgeon-general-jerome-adams-stance-on-cannabis-is-at-odds-with-his-responsibility-to-th">Opinion: Surgeon General Jerome Adams&#39; Stance On Cannabis Is At Odds With His Responsibility To The Nation</a>

The Week Ahead In Cannabis: KushCo Earnings, House Panel's Historic Hearing And More

Nouveau Life Pharma

The&nbsp;<a href="http://www.benzinga.com/markets/cannabis/20/03/15470432/puration-kaly-confirm-m-a-deal-say-research-underway-on-cbd-coronavirus-symptoms">months-long process</a>&nbsp;to sell&nbsp;Puration Inc.&#39;s&nbsp;(OTCPK:&nbsp;<a href="http://www.benzinga.com/stock/pura/">PURA</a>) cultivation business to PAOG Group, Inc. (OTC:<a class="ticker" href="/stock/PAOG#OTC">PAOG</a>) has come to an end.

The companies announced that the deal officially <a href="http://www.prnewswire.com/news-releases/pura-and-paog-cannabis-cultivation-deal-closing-today-301101249.html">closed&nbsp;Tuesday</a>. PAOG opted to acquire PURA&#39;s operation in exchange for PAOG common stock.

PAOG also confirmed its&nbsp;<a href="http://www.benzinga.com/markets/cannabis/20/01/15163003/puration-wants-to-purchase-kali-extracts-cbd-confection-assets">previously announced</a>&nbsp;intention to take over NCM Biotech from Kali-Extracts&nbsp;Inc. (OTCPK: <a href="http://www.benzinga.com/stock/kaly">KALY</a>).

Both acquisitions are part of a PAOG&#39;s goal to revitalize the company&#39;s &quot;original mission to provide patient care alternatives to traditional patient care solutions,&quot; CEO James C. DiPrima explained.

&quot;Our revitalization plan involves a complete exit of our previous endeavors and the implementation of an all new initiative through the planned acquisition of two currently operating businesses within the medical cannabis sector,&quot; continued DiPrima.

PURA announced the sale of its operation a couple of&nbsp;<a href="http://www.benzinga.com/markets/cannabis/20/07/16589518/puration-unveils-plans-for-cannabis-cultivation-deal-with-kali-extracts-ncm-biotech">weeks ago</a>, followed by PAOG&#39;s&nbsp;<a href="http://www.benzinga.com/markets/cannabis/20/07/16618688/pao-group-confirms-takeover-looks-to-acquire-puration-and-kali-extracts">confirmation</a>&nbsp;that its management team has obtained majority control of the company.

In addition, the Dallas-based company had previously spun-off its cannabis cultivation operation to Nouveau (OTC:&nbsp;<a href="http://www.benzinga.com/stock/nouv/">NOUV</a>), in exchange for common stock. However, that deal&nbsp;<a href="http://www.benzinga.com/pressreleases/20/07/n16488860/pura-first-step-toward-new-cannabis-cultivation-spinoff-deal-and-corresponding-dividend-coming-nex">has been canceled</a>.

Courtesy photo

Puration&nbsp;Inc.&nbsp;(OTCPK:&nbsp;<a href="http://www.benzinga.com/stock/pura/">PURA</a>), an extraction cannabis company,&nbsp;<a href="http://www.prnewswire.com/news-releases/pura-reports-173-q1-2020-revenue-growth-301063629.html">announced</a>&nbsp;Thursday its financial earnings for the first quarter of 2020.

The report comes about three months after Puration&nbsp;<a href="http://www.benzinga.com/markets/cannabis/20/02/15325861/puration-targets-acquisition-in-cbd-pet-market">made an offer</a>&nbsp;to buy an undisclosed CBD pet product operation.

That acquisition came&nbsp;on the heels of&nbsp;<a href="http://www.benzinga.com/markets/cannabis/20/01/15163003/puration-wants-to-purchase-kali-extracts-cbd-confection-assets">an announcement</a>&nbsp;that Puration and&nbsp;Kali-Extracts&nbsp;Inc. (OTC: KALY) are negotiating Puration&rsquo;s intention to purchase the cannabis company.

The following month, both parties&nbsp;<a href="http://www.benzinga.com/markets/cannabis/20/03/15470432/puration-kaly-confirm-m-a-deal-say-research-underway-on-cbd-coronavirus-symptoms">confirmed</a>&nbsp;the planned acquisition is underway.

Dallas-based Puration which saw its revenue&nbsp;spike&nbsp;173% year-over-year, reaching $805,000. Here&#39;s a breakdown of what the earnings report showed:

<ul>
	<li>Pura&rsquo;s gross revenue was $241,790</li>
	<li>Annual revenue of $2.7 million</li>
	<li>That&#39;s up by 121% compared to the $1.2 million the company generated in 2018</li>
	<li>A net profit of more than $200,000</li>
</ul>

The producer of EVERx CBD Infused Sports Drink also reported ordinary general expenses of roughly $130,000 per quarter.&nbsp;

Puration also said it&nbsp;plans to publish a narrative update on Friday, May 22, further revealing details regarding the first-quarter financial report and its 100% annual revenue growth outlook for 2020.

Furthermore, it will provide information on its cannabis cultivation operations related to&nbsp;Nouveau&nbsp;Life Pharmaceuticals, Inc.&nbsp;(OTC:&nbsp;<a href="http://www.benzinga.com/stock/nouv/">NOUV</a>).&nbsp;

In addition, Kali reported it had submitted a novel patent application based on its CBD formulation for relieving symptoms of COPD and related respiratory conditions.

Courtesy photo.

After an <a href="https://www.benzinga.com/markets/cannabis/19/07/14036209/the-week-in-cannabis-canopy-growth-trims-bruce-linton-congressional-hearings-on-ending-marijuana">eventful week</a>&nbsp;marked by the termination of Canopy Growth Corp (NYSE:<a class="ticker" href="/stock/CGC#NYSE">CGC</a>)&#39;s Bruce Linton, the upcoming week appears to be a pretty busy one for the cannabis industry.

Here are some key events cannabis investors should keep on the radar over the next five days.

<h3>Historic House Panel Hearing</h3>

On July 10, the House Judiciary Subcommittee on Crime, Terrorism, and Homeland Security is scheduled to hold a landmark hearing to discuss cannabis laws and reform, which could potentially mean the end of prohibition in the U.S. on a federal level. The hearing, titled &ldquo;Marijuana Laws in America: Racial Justice and the Need for Reform&rdquo; could also help advance the STATES Act, which aims to protect cannabis businesses from federal prosecution, to the House floor.

Need more cannabis news? Check out all of our coverage <a href="https://www.benzinga.com/cannabis/">here</a>.

<h3>KushCo Earnings</h3>

One of the largest providers of ancillary services to the cannabis industry, KushCo Holdings Inc (OTC:<a class="ticker" href="/stock/KSHB#OTC">KSHB</a>) is expected to release its financial results for the third quarter of fiscal 2019 on June 9 after the market close.

<h3>Other Corporate News</h3>

On Monday, Leafbuyer Technologies Inc (OTC:<a class="ticker" href="/stock/LBUY#OTC">LBUY</a>) expects to close its previously announced private placement of $4.50 million worth of common stock and warrants to two institutional investors.

On Tuesday, Puration Inc (OTC:<a class="ticker" href="/stock/PURA#OTC">PURA</a>) and Nouveau Life Pharmaceuticals Inc (OTC:<a class="ticker" href="/stock/NOUV#OTC">NOUV</a>) will provide an online update. Last year, Nouveau was spun off from Puration to focus on growing hemp. On July 8, Nouveau is expected to post its financial results for the last quarter and the update the following day will concern the stock dividend that Nouveau should issue to Puration shareholders under the spin-off deal.

On Wednesday, Medmen Enterprises Inc (OTC:<a class="ticker" href="/stock/MMNFF#OTC">MMNFF</a>) will host a ribbon cutting event at its West Palm Beach store. The event will celebrate the company&#39;s first location in Florida, as well as the partnership with Epilepsy Florida established last week.

Related Links:

<a href="https://www.benzinga.com/analyst-ratings/analyst-color/19/07/14027589/bank-of-america-remains-bullish-on-canopy-growth-despite-the-end-of-an-era">Bank Of America Remains Bullish On Canopy Growth Despite The &#39;End Of An Era&#39;</a>

<a href="https://www.benzinga.com/markets/cannabis/19/07/14035409/opinion-surgeon-general-jerome-adams-stance-on-cannabis-is-at-odds-with-his-responsibility-to-th">Opinion: Surgeon General Jerome Adams&#39; Stance On Cannabis Is At Odds With His Responsibility To The Nation</a>

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