TULSA, Okla., Aug. 18, 2022 (GLOBE NEWSWIRE) -- PuraVerde, Inc., a cannabis company and operator that produces premium products, today announced the launch of its streamlined Regulation A, Tier 2 public offering for both un-accredited and accredited investors. Driving innovative research and development, PuraVerde is formulating products for the future of commercial cannabis. The Company plans to become a national leader in the pharmaceutical cannabis space; PuraVerde is welcoming investors to join in the journey.
A recent study reports cannabis sales in the U.S. increased 40% in 2021 to $25 billion. In 2020, Oklahoma dispensaries generated between $720 million and $880 million, with sales expected to top $1.1 billion by 2025.
One of Oklahoma's top private label manufacturers, PuraVerde's goal is to use the latest in available technology and analysis of production efficiencies to formulate, test, and package its medical cannabis products from its vertically integrated facility. Additionally, PuraVerde's operations allow it to bring new products to market in Oklahoma. The company also serves as a leader in private label design, formulation, and manufacture. PuraVerde's private label division has 13 distinct brands and 150+ total SKUs.
In 2021, PuraVerde completed a multi-million dollar expansion that included a new R&D Chemical Lab, Commercial Kitchen and Automated Manufacturing Facility. The company's white labeling program aims to bring operational efficiency and increased margins to cannabis companies. As the demand for high-quality medical cannabis continues to increase, PuraVerde has secured a number of supply agreements and partnerships in Oklahoma that have served to increase revenues and position the company. The company intends to bring its business model to other states as the industry, as a whole, is poised for growth.
The Company is offering 33,333,333 shares Class C Common Stock, plus 3,333,333 Bonus Shares, for maximum gross processed of $50 million.
PuraVerde's existing product line is sold and distributed to medical dispensaries throughout the state. The Company's products include: Buffalo Roze Fine Cannabis, White Tail Extracts, Verde Pür, Zino Extracts, Pürshot, and the Bud Bar.
From 2020 through 2021, PuraVerde has seen $10mm+ total gross revenue, a 250% square footage increase in its manufacturing facility and a 4x increase in its brand portfolio. With these brands created specifically for certain market appeal, PuraVerde believes it has the makings of an industry success.
The Company encourages all interested investors to visit puraverdecannabis.com/investors/ for a link to the Offering Circular and to learn how to invest in the offering.
For more information on PuraVerde and its brands, visit PuraVerdecannabis.com.
View the offering circular directly by clicking here.
About PuraVerde, Inc.
One of Oklahoma's top private label manufacturers, PuraVerde is planning to bring its A-game business model to other states. PuraVerde's R&D lab has worked with new technologies like Nano Emulsion and Synthetic Cannabinoids that take PuraVerde's growth to a new level. From PuraVerde's technology to its brands to its private label program, learn why PuraVerde is one of most innovative companies in the cannabis industry.
Forward-Looking Statement:
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, including, but not limited to, risks and effects of legal and administrative proceedings and governmental regulation, especially in a foreign country, future financial and operational results, competition, general economic conditions, proposed transactions that are not legally binding obligations of the company and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include the introduction of new technology, market conditions and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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