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NEWS...
Date: July 1, 2020
A[url][/url][tag]insert-text-here[/tag]LYI - Alternet Announces Partial Prefunding In Conjunction With $25 Million Investment Deal
Symbol: ALYI
Dallas, TX -- July 1, 2020 -- InvestorsHub NewsWire -- Alternet Systems, Inc. (USOTC: ALYI) today announced the company will receive up to $2.5 million in advance of a $25 million first tranche investment agreement currently committed under a letter of intent (LOI). ALYI yesterday announced executing a letter of intent (LOI) for a $25 million first tranche investment at in advance of a planned initial coin offering (ICO) to fund ALYI’s $300 million electric mobility initiative in Africa. In addition to producing the ReVolt Electric Motorcycle for the shared-ride market, ALYI intends to generate annual revenue from producing an annual electric mobility conference and symposium that includes a major brand name anchor event. The prefunding is intended to support the initiation of immediate efforts necessary to prepare for the inaugural electric mobility event next year. The funds will be provided as a loan convertible into the $25 million first tranche investment. The complete first tranche investment agreement is anticipated to be completed within the next 90 days.
The developing ALYI annual African electric mobility technology conference and symposium is designed to advance the deployment of electric powered transportation solutions specific to Africa. The focus includes environmental sustainability but also overall transportation efficiency applicable to the African transportation infrastructure, economy, and consumer. ALYI CEO, Dr. Randell Torno, contends that the immediate opportunity for electric powered transportation growth in Africa by far exceeds the electric powered transportation opportunity anywhere else in the world and that the electric mobility technology innovations that will be developed for Africa will ultimately form the foundation of commercial electric powered transportation everywhere. In short, Africa is the global proving ground for electric powered transportation. The planed conference and symposium location is Nairobi, Kenya.
As ALYI now begins to assemble and promote the first African electric mobility technology conference and symposium targeted for the first quarter of 2021, the company emphasizes that the subject of electric transportation is far greater than the mere replacement of fossil fueled cars with electric powered cars. For instance, Volvo, Hyundai, Aston Martin and Porsche, to name only a few, have electric powered vertical take-off and landing (VTOL) initiatives in the works. Uber's 'Uber Elevate' program has slated deploying flying taxi services in Dallas, Los Angeles and Melbourne by 2023. ALYI is particularly focused on electric transportation solutions for the shared-ride market.
For more information and to stay up to date on the latest developments , please visit: http://www.alternetsystemsinc.com
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
This is the ALYI Podcast spoken about earlier, from September 10th of last year...And yes, they seem to be heading for the timeline they spoke of...Its around the seven minute mark...The whole interview is very interesting, including the other guest, who talks about powering up Africa...
https://www.goldmanresearch.com/201909101250/Opportunity-Research/new-ceo-podcast-interview.html
ALYI EV Strategy Benefits From Industry Momentum
11:49 AM ET 6/30/20 | Dow Jones
Dallas, Texas--(Newsfile Corp. - June 30, 2020) - Alternet Systems, Inc. (OTC Pink: ALYI) management today highlighted recent electric vehicle (EV) industry momentum in conjunction with ALYI's own notable and substantial progress. ALYI management points out that overall industry progress brings attention to how ALYI learns from industry readily recognized participants such as Tesla and correspondingly implements a strategy to differentiate itself and seize market segments separate from those targeted by the readily recognized EV industry participants. ALYI today announced executing a letter of intent (LOI) for a $25 million first tranche investment in advance of a planned initial coin offering (ICO) to fund ALYI's $300 million electric mobility initiative in Africa (see more below on $25 million investment and ICO).
EV notable overall industry progress concurrent with ALYI's own progress includes TSLA anticipation of breaking even in Q2. Workhorse has gained substantial investment attention since recently announcing safety standards progress. Electric truck producer Nikola is also getting substantial investment attention at this time. Similarly, Tortoise Acquisition Corp is also an investor favorite as it moves forward on the possible acquisition of Hyliion.
ALYI $25 Million Investment @ $50 Million Valuation And Planned ICO
The planned ALYI investment is one component of the investor's overall $100 million initial cryptocurrency offering (ICO) strategy. The investor is independently launching an ICO dedicated to funding ALYI's overall $300 million electric mobility project in Africa with future plans to fund additional electric mobility initiatives in Africa. The investor has already partitioned on the Ethereum Blockchain in advance of the planned ICO.
The $25 million first tranche investment is structured at a $50 million pre-money valuation of ALYI in consideration of the company's $300 million electric mobility initiative. The $25 million first tranche investment represents a valuation of ALYI common stock at approximately $0.05 per share.
The first $25 million tranche is structured to result in a change of control with the investor becoming the controlling shareholder. A management change is not part of the planned investment. Randell Torno will remain as the Chief Executive Officer. A second tranche at a valuation calculated after the first $25 million investment is planned before the end of the year.
ALYI's overall $300 million comprehensive electric vehicle strategy in Africa is founded on initially launching the commercial production of the company's own ReVolt Electric Motorcycle. The ReVolt Electric Motorcycle pilot passed initial design requirements and ongoing pilot design refinements are expected to soon deliver a reduced overall weight and improved cruising range.
For more information and to stay up to date on the latest developments , please visit: http://www.alternetsystemsinc.com
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/58893
> Dow Jones Newswires
June 30, 2020 11:49 ET (15:49 GMT)
NEWS!!!
Yahoo Finance
PR Newswire
ALYI - Alternet Announces $25 Million Pre ICO Investment Deal at $50 Million Valuation
June 30, 2020, 8:00 am
DALLAS, June 30, 2020 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) today announced executing a letter of intent (LOI) for a $25 million first tranche investment to fund ALYI's $300 million electric mobility initiative in Africa.
The planned ALYI investment is one component of the investor's overall $100 million initial cryptocurrency offering (ICO) strategy. The investor is independently launching an ICO dedicated to funding ALYI's overall $300 million electric mobility project in Africa with future plans to fund additional electric mobility initiatives in Africa. The investor has already partitioned on the Ethereum Blockchain in advance of the planned ICO.
The $25 million first tranche investment is structured at a $50 million pre-money valuation of ALYI in consideration of the company's $300 million electric mobility initiative. The $25 million first tranche investment represents a valuation of ALYI common stock at approximately $0.05 per share.
The first $25 million tranche is structured to result in a change of control with the investor becoming the controlling shareholder. A management change is not part of the planned investment. Randell Torno will remain as the Chief Executive Officer. A second tranche at a valuation calculated after the first $25 million investment is planned before the end of the year.
ALYI's overall $300 million comprehensive electric vehicle strategy in Africa is founded on initially launching the commercial production of the company's own ReVolt Electric Motorcycle. The ReVolt Electric Motorcycle pilot passed initial design requirements and ongoing pilot design refinements are expected to soon deliver a reduced overall weight and improved cruising range.
For more information and to stay up to date on the latest developments, please visit: http://www.alternetsystemsinc.com
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
Cision
Cision
View original content:http://www.prnewswire.com/news-releases/alyi--alternet-announces-25-million-pre-ico-investment-deal-at-50-million-valuation-301085657.html
SOURCE Alternet Systems, Inc.
Well, that was all quite interesting...But I doubt any of it changed anyone's mind...Guess we'll see a little bit unfold Monday and then some more on Tuesday...
Alternet to finalize investment terms for electric mobility initiative
Jun. 25, 2020 1:57 PMAlternet Systems, Inc. (ALYI)By: Khyathi Dalal, SA News Editor
Alternet Systems (OTCPK:ALYI +70.7%) plans to finalize terms and execute a letter of intent on June 30, 2020 for a $25M first tranche investment, based on valuation of ~$0.05 per share, to fund its $300M electric mobility initiative in Africa.
As per the terms, ~$50M pre-money valuation of ALYI would be given in consideration of the initiative which will lead to the investor becoming the controlling shareholder. Management change is not a part of the investment.
A second tranche at valuation is planned before the end of 2020. The planned ALYI investment is one component of an overall $100M initial cryptocurrency offering strategy.
Initially, Alternet would launch the commercial production of its own ReVolt Electric Motorcycle in Africa
Yahoo Finance
PR Newswire
ALYI - Alternet To Finalize Terms For Receiving $25 Million Investment
June 25, 2020, 12:07 pm
DALLAS, June 25, 2020 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) today announced plans to finalize terms and execute a letter of intent (LOI) next week on Tuesday, June 30, 2020 for a $25 million first tranche investment to fund ALYI's $300 million electric mobility initiative in Africa.
The working terms include an approximate $50 million pre-money valuation of ALYI in consideration of the company's $300 million electric mobility initiative. The $25 million first tranche investment represents a valuation of ALYI common stock at approximately $0.05 per share.
The first $25 million tranche is intended to result in a change of control with the investor becoming the controlling shareholder. A management change is not part of the planned investment. A second tranche at valuation calculated after the first $25 million investment is planned before the end of the year.
The planned ALYI investment is one component of an overall $100 million initial cryptocurrency offering (ICO) strategy. ALYI has partnered with an independent firm founded specifically for launching an initial crypto currency offering (ICO) dedicated to funding ALYI's overall $300 million electric mobility project in Africa.
ALYI's overall $300 million comprehensive electric vehicle strategy in Africa is founded on initially launching the commercial production of the company's own ReVolt Electric Motorcycle. The ReVolt Electric Motorcycle pilot passed initial design requirements and ongoing pilot design refinements are expected to soon deliver a reduced overall weight and improved cruising range.
ALYI's funding partner for the African electric mobility project has already been partitioned on the Ethereum Blockchain. A pre-ICO funding round is underway and ICO details are being finalized.
For more information and to stay up to date on the latest developments , please visit: http://www.alternetsystemsinc.com
ALYI - Alternet Systems Announces Anticipated $25 Million Investment At Approximate $50 Million Valuation
12:20 PM ET 6/23/20 | Dow Jones
Dallas, Texas--(Newsfile Corp. - June 23, 2020) - Alternet Systems, Inc. (OTC Pink: ALYI) today published a management update with details on the structure of the anticipated $25 million first tranche investment to fund ALYI's $300 million electric mobility initiative in Africa. ALYI last week announced drafting a letter of intent (LOI) with its funding partner delineating terms for an initial $25 million first tranche investment. Management expects to have the LOI finalized by the end of June. The management updated detailing the intended terms of the first $25 million tranche are included in their entirety below.
First $25 Million Tranche Anticipated Strategy And Structure
The first $25 million tranche is a component of an overall $100 million initial cryptocurrency offering (ICO) strategy. ALYI has partnered with an independent firm founded specifically for launching an initial crypto currency offering (ICO) dedicated to funding ALYI's overall $300 million electric mobility project in Africa.
ALYI's overall $300 million comprehensive electric vehicle strategy in Africa is founded on initially launching the commercial production of the company's own ReVolt Electric Motorcycle. The ReVolt Electric Motorcycle pilot passed initial design requirements and ongoing pilot design refinements are expected to soon deliver a reduced overall weight and improved cruising range.
ALYI's funding partner for the African electric mobility project has already been partitioned on the Ethereum Blockchain. A pre-ICO funding round is underway and ICO details are being finalized.
By the end of June, ALYI and its funding partner expect to finalize an LOI for a first tranche $25 million investment in ALYI. The working terms include an approximate $50 million pre-money valuation of ALYI in consideration of the company's $300 million electric mobility initiative. The first $25 million tranche is intended to result in a change of control with the investor becoming the controlling shareholder. A management change is not part of the planned investment. A second tranche at valuation calculated after the first $25 million investment is planned before the end of the year.
For more information and to stay up to date on the latest developments , please visit: http://www.alternetsystemsinc.com
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/58415
> Dow Jones Newswires
June 23, 2020 12:20 ET (16:20 GMT)
ALYI Management Update Detailing $25 Million Anticipated First Tranche Investment Scheduled for Tomorrow
Newsfile Corp.
June 22, 2020, 1:46 pm
Dallas, Texas--(Newsfile Corp. - June 22, 2020) - Alternet Systems, Inc. (OTC Pink: ALYI) today announced a management update scheduled for tomorrow, Tuesday, June 23, 2020. The purpose of the update is to present details on the structure of the anticipated $25 million first tranche investment to fund ALYI's $300 million electric mobility initiative in Africa. ALYI last week announced drafting a letter of intent (LOI) with its funding partner delineating terms for an initial $25 million first tranche investment. Management expects to have the LOI finalized by the end of June.
ALYI has an overall $300 million comprehensive electric vehicle strategy in Africa founded on initially launching the commercial production of the company's own ReVolt Electric Motorcycle. The ReVolt Electric Motorcycle pilot passed initial design requirements and ongoing pilot design refinements are expected to soon deliver a reduced overall weight and improved cruising range.
ReVolt Logo
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/1184/58329_8ec519486415d948_001full.jpg
ALYI has partnered with an independent firm founded specifically for launching an initial crypto currency offering (ICO) dedicated to funding ALYI's overall $300 million electric mobility project in Africa.
ALYI is well on track with its funding partner for the African electric mobility project. A cryptocurrency has already been partitioned on the Ethereum Blockchain. In conjunction with the LOI progress announced today, a pre ICO funding round is underway and ICO details are being finalized.
For more information and to stay up to date on the latest developments, please visit: http://www.alternetsystemsinc.com
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/58329
ALYI - Alternet Announces Major Step Forward In Funding $300 Million Electric Mobility Initiative
June 18, 2020, 10:14 am
DALLAS, June 18, 2020 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) today announced drafting a letter of intent (LOI) with its funding partner delineating terms for an initial $25 million first tranche investment to fund ALYI's $300 million electric mobility initiative in Africa. Management expects to have the LOI finalized by the end of June.
ALYI has an overall $300 million comprehensive electric vehicle strategy in Africa founded on initially launching the commercial production of the company's own ReVolt Electric Motorcycle. The ReVolt Electric Motorcycle pilot passed initial design requirements and ongoing pilot design refinements are expected to soon deliver a reduced overall weight and improved cruising range. ALYI has partnered with an independent firm founded specifically for launching an initial crypto currency offering (ICO) dedicated to funding ALYI's overall $300 million electric mobility project in Africa.
ALYI is well on track with its funding partner for the African electric mobility project. A cryptocurrency has already been partitioned on the Ethereum Blockchain. In conjunction with the LOI progress announced today, a pre ICO funding round is underway and ICO details are being finalized.
Ad
For more information and to stay up to date on the latest developments , please visit: http://www.alternetsystemsinc.com
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
USMJ.com Announces Official Vendor Program, Partnership
11:00 AM ET 6/12/20 | Dow Jones
The emerging top CBD/CBG/Hemp Online Marketplace
DALLAS, June 12, 2020 /PRNewswire/ -- North American Cannabis Holdings, Inc. (USOTC: USMJ) - Due to overwhelming demand, USMJ.com has streamlined its process to becoming a Vendor on USMJ.com. The USMJ.com Vendor program launched quite some time ago but has been a slowly growing process. Now, CBD/CBG Manufacturers and Vendors can apply and list their products on USMJ.com.
"There was one day where we had one business reach out, then another and it slowly grew," says Steven Rash, CEO North American Cannabis Holdings, Inc. "Now we've got one of the largest CBD/CBG/Hemp marketplaces online that range from gummies, smokables, beverages to oils. This is a great opportunity for large and small brands to grow."
Program details: USMJ.com has streamlined the process to vendors to apply and list their products on USMJ.com. Before now, it's been a series of emails, but now there's a set discovery process to understand the products we're putting online and established marketing efforts to help businesses grow.
Vendors looking to list their products may read about the process and apply here: https://usmj.com/pages/vendor-inquiries
Partnerships: Here's a preview for a new brand that we're about to release on the site:
Alternet Systems earns investment interest as Uber features African electric motorcycle market
Monday, 15 June 2020 07:54
Alternet Systems has announced that the interest expressed by UBER in the African electric motorcycle market has spurred new investment interest in ALYI's ongoing US$300mn electric mobility project in Africa centred on the commercial manufacturing launch of ALYI's ReVolt Electric Motorcycle
uber africa cashUber Africa launches Uber Cash with Flutterwave and explores EVs. (Image source: Alternet Systems)
ALYI has an overall comprehensive electric vehicle strategy in Africa founded on initially launching the commercial production of the company's own ReVolt Electric Motorcycle. The ReVolt Electric Motorcycle pilot passed initial design requirements and ongoing pilot design refinements are expected to soon deliver a reduced overall weight and improved cruising range.
ALYI has partnered with an independent firm founded specifically for launching an initial crypto currency offering (ICO) dedicated to funding ALYI's overall $300 million electric mobility project in Africa.
ALYI is well on track with its funding partner for the African electric mobility project. A cryptocurrency has already been partitioned on the Ethereum Blockchain. A pre ICO funding round is ready to launch and ICO details are being finalized.
Uber Africa has launched Uber Cash with Flutterwave and explores EVs. Regarding this news, ALYI management was subsequently contacted by investors that have already expressed interest in potentially underwriting the planned ICO. As a result, ALYI management will be presenting a detailed update to the investors next Wednesday, June 17th, aimed at accelerating and increasing the pre ICO funding round in order to likewise accelerate the manufacturing launch of the ReVolt Electric Motorcycle.
757, always a good sign...
757, with the way they've worded their press releases, I just don't see any good coming from this...But, on the other hand, I have nothing to gain by this stock taking a dump...I've been with this stock for close to two years, so I hope you're right and I am wrong...Nothing would make me happier...So here's to me being wrong... (Wink)
ALYI African Electric Motorcycles Earn New Investment Interest as Uber Features African Electric Motorcycle Rideshare Market
June 11, 2020, 10:59 am
DALLAS, June 11, 2020 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) today announced that the recent interest expressed by UBER in the African electric motorcycle market has spurred new investment interest in ALYI's ongoing $300 million electric mobility project in Africa centered on the commercial manufacturing launch of ALYI's ReVolt Electric Motorcycle.
Uber Africa launches Uber Cash with Flutterwave and explores EVs (PRNewsfoto/Alternet Systems, Inc.)
Uber Africa launches Uber Cash with Flutterwave and explores EVs (PRNewsfoto/Alternet Systems, Inc.)
Uber Africa launches Uber Cash with Flutterwave and explores EVs
ALYI has an overall comprehensive electric vehicle strategy in Africa founded on initially launching the commercial production of the company's own ReVolt Electric Motorcycle. The ReVolt Electric Motorcycle pilot passed initial design requirements and ongoing pilot design refinements are expected to soon deliver a reduced overall weight and improved cruising range. ALYI has partnered with an independent firm founded specifically for launching an initial crypto currency offering (ICO) dedicated to funding ALYI's overall $300 million electric mobility project in Africa.
ALYI is well on track with its funding partner for the African electric mobility project. A cryptocurrency has already been partitioned on the Ethereum Blockchain. A pre ICO funding round is ready to launch and ICO details are being finalized.
The Uber news (above) about their developments in Africa came out yesterday. ALYI management was subsequently contacted in regard to the news by investors that have already expressed interest in potentially underwriting the planned ICO. As a result, ALYI management will be presenting a detailed update to the investors next Wednesday, June 17th, aimed at accelerating and increasing the pre ICO funding round in order to likewise accelerate the manufacturing launch of the ReVolt Electric Motorcycle.
For more information and to stay up to date on the latest developments, please visit: http://www.alternetsystemsinc.com
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Photo - https://media.zenfs.com/en/prnewswire.com/1e9923ef947510e99036120b6323b8de
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
PURA Cannabis Cultivation Spinoff Merger Details With NCM Biotech Coming Soon
9:46 AM ET 6/10/20 | Dow Jones
DALLAS, June 10, 2020 /PRNewswire/ -- Puration, Inc. (USOTC: PURA) today confirmed plans to publish details of a developing merger transaction between PURA's cannabis cultivation operation spun-off to Nouveau (USOTC: NOUV) and Kali-Extracts (USOTC: KALY) NCM Biotech subsidiary. The planned merger transaction includes resolving the delayed issue of a dividend to PURA shareholders intended from the original cannabis cultivation. The terms of the planned merger transaction between PURA's cannabis cultivation operation and NCM Biotech includes a planned issue of dividends to PURA shareholders.
In an effort to concentrate on its CBD infused products business, PURA spun off its cannabis cultivation business it had been developing to NOUV in a transaction that included a planned dividend of NOUV stock to PURA shareholders.
The cannabis cultivation operation is thriving. The operation has recently purchased and relocated to a new property from its former leased property. Texas lawmakers have recently implemented hemp friendly farming regulations and in so doing, universities within the State of Texas have initiated hemp farming research programs. PURA's cannabis cultivation spinoff has initiated a number of joint research applications with Texas universities.
While the cannabis cultivation spinoff is operationally advancing, the plans for harnessing the NOUV public holding company capital structure opportunities to contribute to further advancing the cannabis cultivation spinoff have languished. PURA has devised a strategy to unwind the NOUV deal and simultaneously execute a new spinoff transaction. The new strategy does include a dividend within the spirit of the original transaction with NOUV.
PURA's cannabis cultivation spinoff has been working with Kali-Extracts' (KALY) NCM Biotech subsidiary in a joint effort to develop a proprietary cultivar to advance NCM Biotech's ongoing work to produce various medical treatments from their patented cannabis extraction process. NCM Biotech and PURA's cannabis cultivation spinoff are developing a plan to merge the two operations.
NCM Biotech is focused on medical research and the development of treatments derived from its patented cannabis extraction process. See a recent research report on CBD extracts derived from NCM Biotech's patented extraction process: Journal of Cannabis Research.
While plans for the new strategy for PURA's cannabis cultivation spinoff do involve an intended merger with KALY's NCM Biotech subsidiary, it does not include a stock transaction with the KALY public holding company. The intended merger would be realized within a new company. The new strategy does include a dividend from the new company to the PURA shareholders within the spirit of the original transaction with NOUV. The planned new strategy that includes a merger of NCM Biotech and PURA's cannabis cultivation spinoff is designed to benefit both PURA shareholders and KALY shareholders.
PURA anticipates making specifics of the new strategy public later this week.
For more information on Puration, visit http://www.purationinc.com.
Disclaimer/Safe Harbor:
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
Contact:
Puration, Inc.
Brian Shibley
info@aciconglomerated.com
+1-(800)-861-1350
View original content:http://www.prnewswire.com/news-releases/pura-cannabis-cultivation-spinoff-merger-details-with-ncm-biotech-coming-soon-301073733.html
SOURCE Puration, Inc.
/Web site: https://www.purationinc.com
> Dow Jones Newswires
June 10, 2020 09:46 ET (13:46 GMT)
I'm guarded, it's been a long wait...I'll see what they have to say over the next couple of weeks...Hopefully, there will be a time for smiles at the end of this...
I still don't see anything that mentions NOUV shareholders...
PURA Cannabis Cultivation NOUV Spinoff Merger Terms With KALY's NCM Biotech Expected To Be Made Public Next Week
June 04 2020 - 02:32PM
InvestorsHub NewsWire Print
Dallas, TX -- June 4, 2020 -- InvestorsHub NewsWire -- Puration, Inc. (USOTC: PURA) today confirmed plans to publish next week the terms of a planned merger transaction between PURA’s cannabis cultivation operation spun-off to Nouveau (NOUV) and Kali-Extracts (KALY) NCM Biotech subsidiary.
In an effort to concentrate on its CBD infused products business, PURA spun off its cannabis cultivation business it had been developing to NOUV in a transaction that included a planned dividend of NOUV stock to PURA shareholders. Brian Shibley, the CEO of PURA continues to serve as the interim CEO of PURA’s cannabis cultivation spinoff.
The cannabis cultivation operation is thriving. The operation has recently purchased and relocated to a new property from its former leased property. Texas lawmakers have recently implemented hemp friendly farming regulations and in so doing, universities within the State of Texas have initiated hemp farming research programs. PURA’s cannabis cultivation spinoff has initiated a number of joint research applications with Texas universities.
While the cannabis cultivation spinoff is operationally advancing, the plans for harnessing the NOUV public holding company capital structure opportunities to contribute to further advancing the cannabis cultivation spinoff have languished. PURA has devised a strategy to unwind the NOUV deal and simultaneously execute a new spinoff transaction. The new strategy does include a dividend within the spirit of the original transaction with NOUV.
PURA’s cannabis cultivation spinoff has been working with Kali-Extracts’ (KALY) NCM Biotech subsidiary in a joint effort to develop a proprietary cultivar to advance NCM Biotech’s ongoing work to produce various medical treatments from their patented cannabis extraction process. NCM Biotech and PURA’s cannabis cultivation spinoff are developing a plan to merge the two operations. The new PURA plan to unwind the NOUV deal and simultaneously execute a new spinoff does currently include an intended divided on the NCM Biotech and cannabis cultivation merged organization.
NCM Biotech is focused on medical research and the development of treatments derived from its patented cannabis extraction process. See a recent research report on CBD extracts derived from NCM Biotech's patented extraction process: Journal of Cannabis Research.
While plans for the new strategy for PURA’s cannabis cultivation spinoff do involve an intended merger with KALY’s NCM Biotech subsidiary, it does not include a stock transaction with the KALY public holding company. The intended merger would be realized within a new company. The new strategy does include a dividend from the new company to the PURA shareholders within the spirit of the original transaction with NOUV. The planned new strategy that includes a merger of NCM Biotech and PURA’s cannabis cultivation spinoff is designed to benefit both PURA shareholders and KALY shareholders.
PURA anticipates making specifics of the new strategy public next week.
For more information on Puration, visit http://www.purationinc.com
I like the fact that they are finally talking about NOUV, but I didn't notice anything in today's news with mention of NOUV shareholders...We'll see what happens next month...
ALYI Financial Reports Demonstrate Sustainability; Pending ICO Could Be Bigger Than Anticipated
05/27/2020 | 11:40am
Dallas, Texas--(Newsfile Corp. - May 27, 2020) - Alternet Systems, Inc. (OTC Pink: ALYI) today released a management update to coincide with the recent publishing of its Q1 2020 financial report and 2019 annual financial report. Both reports show the company's base revenue has not been impacted by the Covid-19 pandemic. The management update below includes confirmation of management's confidence that the base revenue will continue throughout Q2 and Q3. ALYI management further confirms that its $300 million African electric mobility project also remains on track and to date, has not been impacted by the Covid-19 pandemic. The management update included in its entirety below includes a 2020 operational outlook that indicates a potential benefit that may result from the Covid-19 economic impact.
Management Update and 2020 Outlook
ALYI has a sound business strategy designed to sustain itself through an early development stage … even one impacted by the likes of the current Covid-19 pandemic. The company has a recurring consulting operation that carries the expenses of the base operation necessary to execute on the long-term business plan to introduce a paradigm shifting electric mobility business model. The recent 2019 annual financial report and the subsequent Q1 financial report both demonstrate ALYI's sustainability. Now halfway through Q2, management is confident that the Q2 report will demonstrate the same and the company has every reason at this time to believe that Q3 will also be sustainably on track.
Management cautiously reports that the launch of ALYI's paradigm shifting business model built on $300 million in electric mobility contracts in Africa is also on tract. With founding electric vehicle designs and prototypes already complete and ready for production, the current development phase involves the upcoming initial coin offering (ICO) to be launched by ALYI's funding partner. The ICO is intended to fund ALYI electric vehicle production.
ALYI is well on track with its funding partner for the African electric mobility project. ALYI's funding partner is optimistic that the Covid-19 impacted markets could benefit the upcoming ICO. The market-wide Q2 financial results coming out in July and August depicting the April and May Covid-19 economic impact could make the electric mobility ICO a standout opportunity. Our funding partner has already partitioned its own cryptocurrency on the Ethereum Blockchain. A pre ICO funding round is ready to launch and ICO details are being finalized.
For more information and to stay up to date on the latest developments , please visit: http://www.alternetsystemsinc.com
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/56671
Copyright 2020 © Newsfilecorp
ALYI Publishes Q1 2020 Financial RPT And Schedules Mgmt. Update To Include 2020 Outlook
12:08 PM ET 5/21/20 | Dow Jones
Dallas, Texas--(Newsfile Corp. - May 21, 2020) - Alternet Systems, Inc. (OTC Pink: ALYI) today announced publishing its Q1 2020 financial report. The company also published its 2019 annual financial report. Both reports show the company's base revenue has not been impacted by the Covid-19 pandemic. ALYI management further confirms that its $300 million African electric mobility project also remains on track and to date, has not been impacted by the Covid-19 pandemic. Management has scheduled to publish an update next week on Wednesday, May 27, 2020 to include more detail on specific highlights within the recent reports. The update will also include a 2020 operational outlook.
For more information and to stay up to date on the latest developments, please visit: http://www.alternetsystemsinc.com
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/56308
> Dow Jones Newswires
May 21, 2020 12:08 ET (16:08 GMT)
PURA Q1 2020 RPT And Cultivation Spinoff Dividend Update Coming This Week
1:29 PM ET 5/20/20 | Dow Jones
Dallas, Texas--(Newsfile Corp. - May 20, 2020) - Puration, Inc. (OTC Pink: PURA) today confirmed the company plans to publish its Q1 2020 financial report this week. Subsequently, management further plans to release an update this week on the company's spinoff of its cannabis cultivation operations to Nouveau (NOUV) that included an intended dividend distribution to PURA shareholders. Management is confident the upcoming financial report will reflect consistency with the company's management update published yesterday highlighting a 100% revenue growth outlook going forward. The subsequent dividend update will outline management's commitment to the intended dividend.
For more information on Puration, visit http://www.purationinc.com
Disclaimer/Safe Harbor:
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
Contact:
Puration, Inc.
Brian Shibley,
info@aciconglomerated.com
(800) 861-1350
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/56233
> Dow Jones Newswires
May 20, 2020 13:29 ET (17:29 GMT)
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PURA COVID-19 Update #7 - Cannabis Cultivation Dividend Update and New Discussions With NCM Biotech
May 11 2020 - 01:53PM
InvestorsHub NewsWire Print
Dallas, TX -- May 11, 2020 -- InvestorsHub NewsWire -- Puration, Inc. (USOTC: PURA) today released its 7th weekly Coronavirus update. Texas, Puration’s home, is now two weeks into reopening its economy in phases. PURA continues to take advantage of the Texas reopening to redistribute EVERx CBD Sports Water inventory to support ongoing sales.
PURA also continues to advance business matters that are independent of any Coronavirus impact. Today management shares further details on the initial news contained in last week’s Coronavirus update regarding the status of its cannabis cultivation spinoff to Nouveau (NOUV) and the planned dividend of NOUV stock to PURA shareholders. While the dividend issuance has taken much longer than anticipated, management remains committed to the spinoff plan and dividend.
Former NOUV management have been slow to provide the necessary support required to update the NOUV delinquent filings. As mentioned last week, PURA management has asked for former NOUV management’s help one final time. PURA management has developed an alternative strategy to carry through with the spirit of the intended spinoff and dividend in the event former NOUV management’s help is not forthcoming in a timely manner.
In the meantime, the cannabis cultivation operation is thriving. The operation has recently purchased and relocated to a new property from its former leased property. Texas lawmakers have recently implemented hemp friendly farming regulations and in so doing, universities within the State of Texas have initiated hemp farming research programs. PURA’s cannabis cultivation spinoff has initiated a number of joint research applications with Texas universities.
PURA’s cannabis cultivation spinoff is also discussing with Kali-Extracts’ (KALY) NCM Biotech subsidiary, a joint effort to develop a proprietary cultivar to advance NCM Biotech’s ongoing work to produce various medical treatments from the company’s patented cannabis extraction process.
PURA management reiterates it commitment to seeing the cannabis cultivation spinoff continue to thrive and grow and for PURA shareholder’s to directly benefit from cannabis cultivation spinoff. Ideally, the NOUV transaction will perform - better late than never. Nevertheless, PURA management intends to see through on its commitment to PURA shareholders in regard to the original intensions of the cannabis cultivation spinoff.
For more information on Puration, visit http://www.purationinc.com
ALYI Announces Current Revenue And $300 Million Electric Mobility Project Remain On Track
11:00 AM ET 5/7/20 | Dow Jones
DALLAS, May 7, 2020 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) today announced that the company's revenue has not been impacted by the Covid-19 pandemic. ALYI management further confirms that its $300 million African electric mobility project also remains on track and to date, has not been impacted by the Covid-19 pandemic.
ALYI management acknowledges the company has held off on publishing regular updates lately. "The world has been understandably preoccupied by an historic world event threatening everyone's health and welfare," stated Randell Torno, Alternet Systems CEO. "We felt the state of our company was relatively inconsequential and news from us might even be disrespectful. Now that the lifestyle and economic conditions surrounding the pandemic are becoming more routine and in confidence that a vaccine will be found greenlighting a once again robust return to unrestricted economic activity, we thought the time was right to at least provide a brief update."
The consulting revenue the company currently earns has not been impacted. At the company's current design and engineering phase of development with its African electric mobility project, again the pandemic has had no impact at this time. ALYI is business as usual.
The company has made substantial strides of late with its funding partner for the African electric mobility project. At the time of our last published updates, our funding partner had already partitioned its own cryptocurrency on the Ethereum Blockchain. A pre ICO funding round is preparing to launch and ICO details are being finalized. ALYI management is optimistic that the timing of the ICO will coincide with a window of relief in the pandemic.
ALYI recently filed to extend the date to publish its annual report for 2019 in conjunction with the OTC Markets current requirements. The report is expected to soon be filed within the extension period. Following the report being published, management plans to issue a more comprehensive update.
For more information and to stay up to date on the latest developments, please visit: http://www.alternetsystemsinc.com
Disclaimer/Safe Harbor:
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
View original content:http://www.prnewswire.com/news-releases/alyi-announces-current-revenue-and-300-million-electric-mobility-project-remain-on-track-301055010.html
SOURCE Alternet Systems, Inc.
/Web site: http://www.alternetsystemsinc.com
> Dow Jones Newswires
May 07, 2020 11:00 ET (15:00 GMT)
I'd like to hear from them, but if it's the same old empty news I'd prefer they just kept their mouth shut...Partner's they can't name, a video of a motorcycle that was supposed to be out over a half a year ago, the fact that they are supposed to be producing the ReVolt sometime this summer or late fall...There is more to be said on this, but I've said enough to get my point across...Do I think this could be real, yeah...Two million shares worth...But, I'm done buying any additional shares...It's just something on my back burnner...I'll end up getting my money back in the long run, this stock always goes up a few times a year and I bought in at a decent price...But it sure would be nice if they ended up proving all of the negative comments on here to be wrong...
Well, it looks like they are finally starting to issue licenses...
Central Texas farmer first to receive license to grow hemp
A Central Texas farmer is the first in the state to be issued a license to grow hemp. (File)
By Staff | Updated: Thu 12:57 PM, Apr 09, 2020
KILLEEN, Texas (KWTX) A farmer in Killeen is the first in the state to be issued a license to grow hemp following the passage of the 2018 Farm Bill, which directed the U.S. Department of Agriculture to establish a regulatory framework for hemp production in the U.S., Texas Agriculture Commissioner Sid Miller announced in a press release Thursday.
The name of the farmer and the site where the hemp will be grown weren’t released Thursday.
“Let’s face it, Texas farmers and ranchers needed some good news,” Miller said.
I am happy that I can be the one to deliver it. I know Texas farmers have been eagerly waiting for a chance at these hemp licenses and now the wait is over.”
Following passage of the 2018 Farm Bill the Texas Legislature, in 2019, approved legislation establishing rules governing hemp production in the state.
In January 2020 the USDA approved the state’s plan and the application process started on March 16.
The agriculture department has received 454 producer applications, 58 handler applications and 30 handler sampler applications, Miller said.
“License number one is just the beginning for industrial hemp in Texas,” Miller said.
“Hemp offers Texas farmers a great new opportunity, but I want them to understand that with every promise of high profit comes the reality of high risk,” he said.
“My job was to get this program started, it’s now up to farmers and processors to build that Texas ‘hempire,’” he said.
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BACKGROUND
Texas Agriculture Commissioner Sid Miller is a strong supporter of industrial hemp production as a new market opportunity for Texas farmers to expand their operations and grow alternative crops.
The 2018 Farm Bill legalized the commercial production of hemp and authorized states to submit state plans to administer hemp programs. On June 10, 2019, House Bill 1325, was signed into law by Governor Greg Abbott. The bill authorizes the production, manufacture, retail sale, and inspection of industrial hemp crops and products in Texas. This also includes products for consumable hemp products which contain cannabidiol (CBD), as well as other edible parts of the hemp plant.
The USDA released its interim final rules on hemp on October 29, 2019. They can be found here.
The TDA submitted the state hemp plan to USDA on December 2, 2019 and it was approved by the USDA on January 27, 2020. Administrative rules were published in January 2020 and became effective March 11.
Commissioner Miller and TDA staff held a public hearing on January 22nd to take input during the comment period for the rules.
The TDA rulemaking process ensures the Department receives stakeholder and public input regarding the new hemp program. TDA’s administrative rules relate to licensing, production, testing, seed certification and other program oversight, as necessary. Once the TDA plan is approved by USDA and the administrative rules are adopted, industrial hemp can be grown and cultivated legally in the State of Texas.
The hemp growing license and permit application process opened online on March 16, 2020.
The regulation of CBD consumables, including CBD oil, will be handled in accordance with Food and Drug Administration (FDA) guidelines. The state agency with oversight of CBD consumables is the Texas Department of State Health Services (DSHS) and not TDA. Questions regarding those matters should be directed to DSHS.
As additional information is available, this website will be updated. If you are interested in receiving regular updates on hemp and other topics, please subscribe to our TDA newsletter.
IT LOOKS LIKE THING'S MIGHT FINALLY START MOVING ALONG AROUND THE END OF THE MONTH...
Hemp farming a growing opportunity for Texas
Pine Valley Farms, associate, Chris Ross, left, and company owners David and Emily Lee talk with potential customers at their hemp seed booth during the annual Ranch and Farm show held at the J.S Bridwell Ag Center, Wednesday afternoon.
Pine Valley Farms, associate, Chris Ross, left, and company owners David and Emily Lee talk with potential customers at their hemp seed booth during the annual Ranch and Farm show held at the J.S Bridwell Ag Center, Wednesday afternoon.
CHRISTOPHER WALKER/TIMES RECORD NEWS
CLAIRE KOWALICK | WICHITA FALLS TIMES RECORD NEWS | 18 hours ago
For the first time, the annual Ranch and Farm Expo changed its name to the Ranch, Farm & Hemp Expo, highlighting the growing interest in industrial hemp production in Texas.
Industrial hemp growing was OK’d under the Farm Bill in 2018, but it has been a tough row to hoe to get the process started.
Dan Hunter, the assistant commissioner for water and rural affairs for the Texas Department of Agriculture, spoke at the Expo held in the Multi-Purpose Events Center J.S. Bridwell building Wednesday, and he explained the pros and cons of hemp production in Texas.
Hemp has more than 2,500 uses, Hunter said, and production of the plant could be a great opportunity for Texas in both production of hemp and the processing of hemp into products like fiber or oil.
There are a variety of species of hemp so one of the first steps is figuring out what varieties grow best in each part of Texas.
"Even in Texas we have such a wide climate - what’s going to grow best in East Texas is probably not what’s going to grow best in the East Plains or High Plains. What’s best in Valley is not necessarily what’s best in the Hill Country," Hunter said.
Hunter said under the law currently, hemp test crops can only be grown under the direction of certain research universities such as A&M, Prairie View and Texas Tech.
Pine Valley Farms, associate, Chris Ross talked with potential customers at their hemp seed booth during the annual Ranch and Farm show held at the J.S Bridwell Ag Center, Wednesday afternoon.
Pine Valley Farms, associate, Chris Ross talked with potential customers at their hemp seed booth during the annual Ranch and Farm show held at the J.S Bridwell Ag Center, Wednesday afternoon.
CHRISTOPHER WALKER/TIMES RECORD NEWS
The Farm Bill that legalized industrial hemp was passed by Congress in December 2018, and at the time, Hunter said, there was a great deal of urgency from potential producers.
Producing hemp could be a great for the state, but Hunter said producers need to do their homework first.
A challenge, he said, is that there is not much infrastructure in place to handle the testing and processing of hemp.
Licensing and permits for potential hemp farmers from the Texas Department of Agriculture are set to begin later this month.
A hemp-producer license is expected to be $100 and a permit is $75 per field.
Hunter said the department does not yet know what the demand will be for licenses and permits, but he expects several thousands of people will apply during this initial roll out of hemp-growing licenses.
Other states, such as Florida, Hunter said, have received state funding for hemp-production programs but the state of Texas is not offering up any legislative dollars at this point.
Once approved to grow, hemp farmers can dive right into the process, however, there are still a great deal of unknowns about hemp production, Hunter cautions.
Once a hemp farmer is 15 days out from harvest, they have to inform the TDA so the crop can be sampled and tested.
There must be at least one sample per acre of hemp that is collected in a specific way by professionals and then tested using certified equipment.
Once samples are collected, the producer can harvest the hemp, but they cannot release the plants for further processing until the lab tests come back.
If a sample of the crop turns up “hot,” meaning it tests at higher than 0.3 percent tetrahydrocannabinol (THC), the grower must destroy the crop.
If a hemp grower has samples that test “hot” three times, they will be banned from growing hemp for five years.
Texas Department of Agriculture, assistant commissioner for rural affairs, Dan Hunter, spoke to a medium-sized crowd, Wednesday morning, about producing hemp products during a seminar held at the Ranch and Farm Show.
Texas Department of Agriculture, assistant commissioner for rural affairs, Dan Hunter, spoke to a medium-sized crowd, Wednesday morning, about producing hemp products during a seminar held at the Ranch and Farm Show.
CHRISTOPHER WALKER/TIMES RECORD NEWS
Other states are producing industrial hemp, such as Kentucky and Tennessee, but crop yields can vary greatly, and hemp seed is expensive.
One acre’s-worth of hemp seed can be $8,000-$12,000.
Hunter said for example that in Kentucky, the largest hemp producer planted 10,000 acres but was only able to harvest about 40 percent of the crop. This translated to an approximately $4-million investment with less than $2-million yield.
Another hurdle is hemp must be dried after harvest and there is a danger of mold or other damage during the drying process.
Beginning with certified hemp seed is important, Hunter said.
The variety of hemp, sex of the seed and potential germination rates can be better determined with certified seed.
Male and female hemp seeds grow differently and are used for differing industrial products. Male hemp grows up to 25 feet tall and is better suited for making fiber or rope. Female hemp, Hunter said, grows like a bush and is more often used for cannabidiol (CBD) oil that has become popular for over-the-counter medicinal use.
Hunter believes there will continue to be a market for CBD oil, but thinks industrial hemp for fiber could overtake the industry in Texas.
Hemp fiber will never replace cotton, he said, because the two have different qualities.
Once all the wrinkles are ironed out, Hunter said,Texas has the potential to be a year-round producer of hemp. Along with growing the crop, he said other states could transport their hemp to Texas to be transformed into numerous products.
"Texas has potential to be one of the leaders in this (hemp production) because we are a business-friendly state. I can see business facilities opening up here and crops coming in from other states. Louisiana, Arkansas - I actually see that potential, we just don’t have that infrastructure right now. Because we are business friendly, I can see our processing abilities attractive to other growers from other states to bring it in and have it processed," Hunter said.
The Ranch, Farm & Hemp Expo, will continue Thursday and includes booths showcasing farm-and-ranch products and services in the Ag Center and demonstrations in the rodeo grounds. The expo at the Ag Center and will include another question-and-answer session Thursday about industrial hemp.
Ranch, Farm & Hemp Expo 2020
View | 8 Photos
Ranch, Farm & Hemp Expo 2020
Claire Kowalick, a senior journalist for the Times Record News, covers local government, military and MSU Texas. If you have a news tip, contact Claire at ckowalick@gannett.com.
Twitter: @KowalickNews
ALYI Schedules Shareholder Update Next Tuesday, March 10th
PR Newswire
March 3, 2020, 9:15 am
DALLAS, March 3, 2020 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) today announced a scheduled shareholder update to be published next Tuesday, March 10th, 2020. Management acknowledges ALYI's business plan is complex and further indicates the company has made some substantial advances that alone warrant a comprehensive shareholder update. Accordingly, the update next week is intended to unpack the complexity while sharing the new advance.
ALYI's focus is on the development of electric mobility solutions. The company has $300 million in electric mobility related projects under development in Africa and is working to fund the acceleration of the $300 million initiative. ALYI CEO, Dr. Randell Torno, contends that the immediate opportunity for electric powered transportation growth in Africa by far exceeds the electric powered transportation opportunity anywhere else in the world and that the electric mobility technology innovations that will be developed for Africa will ultimately form the foundation of commercial electric powered transportation everywhere. In short, Africa is the global proving ground for electric powered transportation.
For more information, please visit: http://www.alternetsystemsinc.com.
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
Cision
USDA drops DEA testing requirement, while FDA acknowledges demand for CBD
Laura Drotleff Laura Drotleff
10 hours ago
USDA Secretary Sonny Perdue addresses the nation's state agriculture departments on Wednesday, Feb. 26, 2020 (Photo courtesy USDA)
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Federal agriculture officials are dropping the requirement that all THC testing on hemp crops must be performed at laboratories registered with the U.S. Drug Enforcement Administration (DEA), according to industry sources.
And food and drug regulators say it’s a “fool’s errand” to get people to stop taking over-the-counter CBD.
Greg Ibach, undersecretary for the U.S. Department of Agriculture (USDA) told members of the National Association of State Departments of Agriculture (NASDA) meeting in Arlington, Virginia, that USDA and DEA have reached an agreement to remove the requirement for hemp farmers to have their crops tested in DEA-registered laboratories. The DEA requirement was included in the interim final rule for domestic hemp production, released Oct. 31.
“This about-face by USDA means that farmers can continue to use their trusted local and regional analytical testing labs to ensure compliance with USDA rules,” Josh Schneider, CEO of San Diego-based young plant producer Cultivaris Hemp, told Hemp Industry Daily.
“Getting rid of this ridiculous DEA testing requirement is a step in the right direction by the USDA,” said Schneider. “Hopefully this means that USDA has come to their senses and will be making better and smarter rules going forward.”
Widespread opposition
The USDA received more than 4,700 comments about its hemp rules, Ibach told NASDA members.
Many of them took issue with the DEA testing requirement.
There are 47 laboratories currently registered with the DEA and many states do not have a registered laboratory, which would require state, tribal and federal law enforcement agents responsible for testing hemp crops to send samples from out of state within a tight, 15-day testing window.
William Richmond, director of the USDA’s Domestic Hemp Production program, told farmers at the Industrial Hemp Summit in Virginia on Monday that testing and sampling requirements were among the aspects the agency could change.
Other parts of the rule, such as the 0.3% total THC limit and the requirement for information sharing, can be changed only by Congress, Richmond said.
Earlier this month, USDA’s Agricultural Marketing Service (AMS), the agency heading up the Domestic Hemp Production program, said federal hemp production rules likely will not change before the final rule was developed by Oct. 31, 2021.
Richmond reiterated on Monday that the USDA will open a public comment period in the fall, to gather industry input on the 2020 production season.
FDA signals a change
Also this week, Dr. Stephen Hahn, the newly appointed commissioner of the U.S. Food and Drug Administration (FDA), acknowledged that American consumers want CBD.
He said Wednesday that the agency is working to move forward with regulations.
“We’re not going to be able to say you can’t use these products. It’s a fool’s errand to even approach that,” Hahn said at the NASDA meeting.
“We have to be open to the fact that there might be some value to these products and certainly Americans think that’s the case. But we want to get them information to make the right decisions.”
The FDA developed a working group following a public meeting and comment period to gather industry input about CBD, but the agency said in November that it had not yet seen enough scientific studies or data to allow it to recognize CBD or products containing it as safe or GRAS.
FDA has not provided a timeline for when it will release guidance on CBD regulation.
Laura Drotleff can be reached at laurad@hempindustrydaily.com
USDA drops DEA testing requirement, while FDA acknowledges demand for CBD
Laura Drotleff Laura Drotleff
10 hours ago
USDA Secretary Sonny Perdue addresses the nation's state agriculture departments on Wednesday, Feb. 26, 2020 (Photo courtesy USDA)
FacebookTwitterLinkedInRedditEmail
Federal agriculture officials are dropping the requirement that all THC testing on hemp crops must be performed at laboratories registered with the U.S. Drug Enforcement Administration (DEA), according to industry sources.
And food and drug regulators say it’s a “fool’s errand” to get people to stop taking over-the-counter CBD.
Greg Ibach, undersecretary for the U.S. Department of Agriculture (USDA) told members of the National Association of State Departments of Agriculture (NASDA) meeting in Arlington, Virginia, that USDA and DEA have reached an agreement to remove the requirement for hemp farmers to have their crops tested in DEA-registered laboratories. The DEA requirement was included in the interim final rule for domestic hemp production, released Oct. 31.
“This about-face by USDA means that farmers can continue to use their trusted local and regional analytical testing labs to ensure compliance with USDA rules,” Josh Schneider, CEO of San Diego-based young plant producer Cultivaris Hemp, told Hemp Industry Daily.
“Getting rid of this ridiculous DEA testing requirement is a step in the right direction by the USDA,” said Schneider. “Hopefully this means that USDA has come to their senses and will be making better and smarter rules going forward.”
Widespread opposition
The USDA received more than 4,700 comments about its hemp rules, Ibach told NASDA members.
Many of them took issue with the DEA testing requirement.
There are 47 laboratories currently registered with the DEA and many states do not have a registered laboratory, which would require state, tribal and federal law enforcement agents responsible for testing hemp crops to send samples from out of state within a tight, 15-day testing window.
William Richmond, director of the USDA’s Domestic Hemp Production program, told farmers at the Industrial Hemp Summit in Virginia on Monday that testing and sampling requirements were among the aspects the agency could change.
Other parts of the rule, such as the 0.3% total THC limit and the requirement for information sharing, can be changed only by Congress, Richmond said.
Earlier this month, USDA’s Agricultural Marketing Service (AMS), the agency heading up the Domestic Hemp Production program, said federal hemp production rules likely will not change before the final rule was developed by Oct. 31, 2021.
Richmond reiterated on Monday that the USDA will open a public comment period in the fall, to gather industry input on the 2020 production season.
FDA signals a change
Also this week, Dr. Stephen Hahn, the newly appointed commissioner of the U.S. Food and Drug Administration (FDA), acknowledged that American consumers want CBD.
He said Wednesday that the agency is working to move forward with regulations.
“We’re not going to be able to say you can’t use these products. It’s a fool’s errand to even approach that,” Hahn said at the NASDA meeting.
“We have to be open to the fact that there might be some value to these products and certainly Americans think that’s the case. But we want to get them information to make the right decisions.”
The FDA developed a working group following a public meeting and comment period to gather industry input about CBD, but the agency said in November that it had not yet seen enough scientific studies or data to allow it to recognize CBD or products containing it as safe or GRAS.
FDA has not provided a timeline for when it will release guidance on CBD regulation.
Laura Drotleff can be reached at laurad@hempindustrydaily.com
USDA drops DEA testing requirement, while FDA acknowledges demand for CBD
Laura Drotleff Laura Drotleff
10 hours ago
USDA Secretary Sonny Perdue addresses the nation's state agriculture departments on Wednesday, Feb. 26, 2020 (Photo courtesy USDA)
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Federal agriculture officials are dropping the requirement that all THC testing on hemp crops must be performed at laboratories registered with the U.S. Drug Enforcement Administration (DEA), according to industry sources.
And food and drug regulators say it’s a “fool’s errand” to get people to stop taking over-the-counter CBD.
Greg Ibach, undersecretary for the U.S. Department of Agriculture (USDA) told members of the National Association of State Departments of Agriculture (NASDA) meeting in Arlington, Virginia, that USDA and DEA have reached an agreement to remove the requirement for hemp farmers to have their crops tested in DEA-registered laboratories. The DEA requirement was included in the interim final rule for domestic hemp production, released Oct. 31.
“This about-face by USDA means that farmers can continue to use their trusted local and regional analytical testing labs to ensure compliance with USDA rules,” Josh Schneider, CEO of San Diego-based young plant producer Cultivaris Hemp, told Hemp Industry Daily.
“Getting rid of this ridiculous DEA testing requirement is a step in the right direction by the USDA,” said Schneider. “Hopefully this means that USDA has come to their senses and will be making better and smarter rules going forward.”
Widespread opposition
The USDA received more than 4,700 comments about its hemp rules, Ibach told NASDA members.
Many of them took issue with the DEA testing requirement.
There are 47 laboratories currently registered with the DEA and many states do not have a registered laboratory, which would require state, tribal and federal law enforcement agents responsible for testing hemp crops to send samples from out of state within a tight, 15-day testing window.
William Richmond, director of the USDA’s Domestic Hemp Production program, told farmers at the Industrial Hemp Summit in Virginia on Monday that testing and sampling requirements were among the aspects the agency could change.
Other parts of the rule, such as the 0.3% total THC limit and the requirement for information sharing, can be changed only by Congress, Richmond said.
Earlier this month, USDA’s Agricultural Marketing Service (AMS), the agency heading up the Domestic Hemp Production program, said federal hemp production rules likely will not change before the final rule was developed by Oct. 31, 2021.
Richmond reiterated on Monday that the USDA will open a public comment period in the fall, to gather industry input on the 2020 production season.
FDA signals a change
Also this week, Dr. Stephen Hahn, the newly appointed commissioner of the U.S. Food and Drug Administration (FDA), acknowledged that American consumers want CBD.
He said Wednesday that the agency is working to move forward with regulations.
“We’re not going to be able to say you can’t use these products. It’s a fool’s errand to even approach that,” Hahn said at the NASDA meeting.
“We have to be open to the fact that there might be some value to these products and certainly Americans think that’s the case. But we want to get them information to make the right decisions.”
The FDA developed a working group following a public meeting and comment period to gather industry input about CBD, but the agency said in November that it had not yet seen enough scientific studies or data to allow it to recognize CBD or products containing it as safe or GRAS.
FDA has not provided a timeline for when it will release guidance on CBD regulation.
Laura Drotleff can be reached at laurad@hempindustrydaily.com
Hemp in California: State to revisit legislation allowing CBD in food, beverages
Published 20 hours ago | By Laura Drotleff
FacebookTwitterLinkedInRedditEmail
(Editor’s note: This is part of an occasional series on California’s hemp industry. To read the previous installment, click here.)
Hemp entrepreneurs in California are optimistic that long-awaited state legislation to legalize hemp-derived CBD as an ingredient in food, beverages and cosmetics will be revived from suspension and ready for Gov. Gavin Newsom to approve by spring.
A coalition of hemp farmers, advocates and local governments worked through the off-session to submit amendments aimed at improving the chances of a bill that stipulates that CBD is not an adulterant in the state, according to two board members of the California Hemp Council – Eric Steenstra, president of Vote Hemp, and Patrick Goggin, a San Francisco-based cannabis attorney with Hoban Law Group.
The bill, which would have reversed a 2018 stipulation by California’s health department that hemp-derived CBD can’t be added to food, had significant forward momentum in an emergency push through the state Legislature last fall.
The hemp industry widely expected the CBD bill to be signed into law by Newsom. But the proposal fizzled at the end of the year.
“It was unceremoniously shelved at the end of last session in large part due to the intent to allow for hemp products to go into marijuana retail,” Goggin said. “There wasn’t a meeting of the minds between the hemp industry and the marijuana industry at that time in order to get passage.”
The governor asked the bill sponsor to resolve concerns regarding:
Food safety related to CBD.
Rules associated with selling products in marijuana dispensaries.
Next steps
According to a letter sent to Newsom by the state’s hemp coalition in mid-January, the proposed amendments to the legislation address:
Concerns from the state health department about the mixing of hemp and marijuana raw products within the operations of licensed producers.
Calls for testing parity between hemp and marijuana products.
The new version of the bill calls for hemp to be tested on par with marijuana, bringing the same confidence in the level of testing for contaminants such as metals and pesticides, Goggin said.
“It will address the most important issue, which is consumer safety, by having the products come under the regulation of the California Department of Public Health,” he added.
But not everyone is happy about the proposed amendments.
The marijuana industry wants hemp to be regulated the same way as marijuana, and with the same testing rules, because it is frustrated that hemp farmers are profiting from CBD, according to Chris Boucher, CEO of Farmtiva, a hemp farm and genetics company in Santa Ysabel.
But under a “right to farm” provision in Proposition 64, hemp should be treated as an agricultural product, putting the onus for testing on retailers and handlers instead of farmers, Boucher told Hemp Industry Daily.
“We’re not marijuana farmers, we’re hemp farmers,” he said. “Hemp is just like corn, soybeans, carrots (and) lettuce. And it’s up to the manufacturers and distributors to make sure that there’s no chemicals, pesticides, herbicides in their products – (it’s) not on the farmers.”
California’s legislative calendar means that the CBD bill will be able to pick up where it left off, in the Senate Appropriations Committee.
Goggin hopes that California lawmakers will finish work on the measure and get it to Newsom’s desk by as early as March.
States can step up and self-regulate
Despite the U.S. Food and Drug Administration’s most recent comments that CBD cannot be generally recognized as safe (GRAS) – and subsequent moves by states such as Oregon to ban alcoholic beverages containing CBD and South Carolina to mandate reformulation of animal food and pet treats that contain hemp and CBD – the trend in 2019 was for states to move forward and allow CBD in food and beverages, Goggin said.
“Last year, we saw Indiana, Florida and Texas all pass statutes allowing for these products and putting the jurisdiction under the states’ public health departments,” he said.
The FDA says CBD can’t go in foods. But the agency’s delay in revisiting that CBD rule while ingestible products are widely sold means that more states such as California should pass legislation to protect their consumers, according to Goggin.
“States can’t wait,” he said. “They’ve got their consumers buying products. They want to ensure that they’re buying safe products, and they don’t see the harm in (CBD) products as long as they’re regulated.”
Further, Goggin said as the industry moves into another transitional year that will likely see expanded hemp production, it is critical to provide an economic path for farmers to sell their crops.
“If we’re not regulating processors and manufacturers, then we have a bottleneck and it makes it more difficult for our farmers to prosper and to (be paid) for their crops,” Goggin said.
Josh Schneider, CEO of genetics company Cultivaris Hemp in San Diego, agrees, saying legislation is needed as a way for hemp farmers to drive innovation and development forward in rural areas.
“Many of the farmers around the state that I speak with are considering building or renting commercial kitchens to develop their own cottage-level products and, at the same time, developing relationships with local, regional and national food and beverage companies,” Schneider told Hemp Industry Daily.
“This bill creates a legal framework for the growth and development of a new and vibrant wellness industry linked directly to California farms.”
Laura Drotleff can be reached at laurad@hempindustrydaily.com
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Hemp in California: State to revisit legislation allowing
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Hemp in California: State to revisit legislation allowing CBD in food, beverages
Published 20 hours ago | By Laura Drotleff
FacebookTwitterLinkedInRedditEmail
(Editor’s note: This is part of an occasional series on California’s hemp industry. To read the previous installment, click here.)
Hemp entrepreneurs in California are optimistic that long-awaited state legislation to legalize hemp-derived CBD as an ingredient in food, beverages and cosmetics will be revived from suspension and ready for Gov. Gavin Newsom to approve by spring.
A coalition of hemp farmers, advocates and local governments worked through the off-session to submit amendments aimed at improving the chances of a bill that stipulates that CBD is not an adulterant in the state, according to two board members of the California Hemp Council – Eric Steenstra, president of Vote Hemp, and Patrick Goggin, a San Francisco-based cannabis attorney with Hoban Law Group.
The bill, which would have reversed a 2018 stipulation by California’s health department that hemp-derived CBD can’t be added to food, had significant forward momentum in an emergency push through the state Legislature last fall.
The hemp industry widely expected the CBD bill to be signed into law by Newsom. But the proposal fizzled at the end of the year.
“It was unceremoniously shelved at the end of last session in large part due to the intent to allow for hemp products to go into marijuana retail,” Goggin said. “There wasn’t a meeting of the minds between the hemp industry and the marijuana industry at that time in order to get passage.”
The governor asked the bill sponsor to resolve concerns regarding:
Food safety related to CBD.
Rules associated with selling products in marijuana dispensaries.
Next steps
According to a letter sent to Newsom by the state’s hemp coalition in mid-January, the proposed amendments to the legislation address:
Concerns from the state health department about the mixing of hemp and marijuana raw products within the operations of licensed producers.
Calls for testing parity between hemp and marijuana products.
The new version of the bill calls for hemp to be tested on par with marijuana, bringing the same confidence in the level of testing for contaminants such as metals and pesticides, Goggin said.
“It will address the most important issue, which is consumer safety, by having the products come under the regulation of the California Department of Public Health,” he added.
But not everyone is happy about the proposed amendments.
The marijuana industry wants hemp to be regulated the same way as marijuana, and with the same testing rules, because it is frustrated that hemp farmers are profiting from CBD, according to Chris Boucher, CEO of Farmtiva, a hemp farm and genetics company in Santa Ysabel.
But under a “right to farm” provision in Proposition 64, hemp should be treated as an agricultural product, putting the onus for testing on retailers and handlers instead of farmers, Boucher told Hemp Industry Daily.
“We’re not marijuana farmers, we’re hemp farmers,” he said. “Hemp is just like corn, soybeans, carrots (and) lettuce. And it’s up to the manufacturers and distributors to make sure that there’s no chemicals, pesticides, herbicides in their products – (it’s) not on the farmers.”
California’s legislative calendar means that the CBD bill will be able to pick up where it left off, in the Senate Appropriations Committee.
Goggin hopes that California lawmakers will finish work on the measure and get it to Newsom’s desk by as early as March.
States can step up and self-regulate
Despite the U.S. Food and Drug Administration’s most recent comments that CBD cannot be generally recognized as safe (GRAS) – and subsequent moves by states such as Oregon to ban alcoholic beverages containing CBD and South Carolina to mandate reformulation of animal food and pet treats that contain hemp and CBD – the trend in 2019 was for states to move forward and allow CBD in food and beverages, Goggin said.
“Last year, we saw Indiana, Florida and Texas all pass statutes allowing for these products and putting the jurisdiction under the states’ public health departments,” he said.
The FDA says CBD can’t go in foods. But the agency’s delay in revisiting that CBD rule while ingestible products are widely sold means that more states such as California should pass legislation to protect their consumers, according to Goggin.
“States can’t wait,” he said. “They’ve got their consumers buying products. They want to ensure that they’re buying safe products, and they don’t see the harm in (CBD) products as long as they’re regulated.”
Further, Goggin said as the industry moves into another transitional year that will likely see expanded hemp production, it is critical to provide an economic path for farmers to sell their crops.
“If we’re not regulating processors and manufacturers, then we have a bottleneck and it makes it more difficult for our farmers to prosper and to (be paid) for their crops,” Goggin said.
Josh Schneider, CEO of genetics company Cultivaris Hemp in San Diego, agrees, saying legislation is needed as a way for hemp farmers to drive innovation and development forward in rural areas.
“Many of the farmers around the state that I speak with are considering building or renting commercial kitchens to develop their own cottage-level products and, at the same time, developing relationships with local, regional and national food and beverage companies,” Schneider told Hemp Industry Daily.
“This bill creates a legal framework for the growth and development of a new and vibrant wellness industry linked directly to California farms.”
Laura Drotleff can be reached at laurad@hempindustrydaily.com
Press Release: PURA - Announces $5 Million Investment at $0.10 PPS Valuation to Fund CBD Acquisitions
8:00 AM ET 2/10/20 | Dow Jones
PURA - Announces $5 Million Investment at $0.10 PPS Valuation to Fund CBD Acquisitions
PR Newswire
DALLAS, Feb. 10, 2020
DALLAS, Feb. 10, 2020 /PRNewswire/ -- Puration, Inc. (USOTC: PURA) today announced closing on a $5 million investment to fund the prospective acquisition of cannabis infused beverage, edible and topical operations. The $5 million investment is structured as debt facility whereby funds can be drawn as needed to fund acquisitions. The drawn funds would be secured by the acquired asset and the debt can be repaid in stock at $0.10 per share. PURA management anticipates making its first formal acquisition offer later this week.
For more information on Puration, visit http://www.purationinc.com
Disclaimer/Safe Harbor:
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
Contact:
Puration Inc.
Brian Shibley
info@aciconglomerated.com
+1-(800)-861-1350
View original content:http://www.prnewswire.com/news-releases/pura--announces-5-million-investment-at-0-10-pps-valuation-to-fund-cbd-acquisitions-301001670.html
SOURCE Puration, Inc.
> Dow Jones Newswires
February 10, 2020 08:00 ET (13:00 GMT)
From the Dow Jones Newswires...
Press Release: PURA - Announces $5 Million Investment at $0.10 PPS Valuation to Fund CBD Acquisitions
8:00 AM ET 2/10/20 | Dow Jones
PURA - Announces $5 Million Investment at $0.10 PPS Valuation to Fund CBD Acquisitions
PR Newswire
DALLAS, Feb. 10, 2020
DALLAS, Feb. 10, 2020 /PRNewswire/ -- Puration, Inc. (USOTC: PURA) today announced closing on a $5 million investment to fund the prospective acquisition of cannabis infused beverage, edible and topical operations. The $5 million investment is structured as debt facility whereby funds can be drawn as needed to fund acquisitions. The drawn funds would be secured by the acquired asset and the debt can be repaid in stock at $0.10 per share. PURA management anticipates making its first formal acquisition offer later this week.
For more information on Puration, visit http://www.purationinc.com
Disclaimer/Safe Harbor:
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
Contact:
Puration Inc.
Brian Shibley
info@aciconglomerated.com
+1-(800)-861-1350
View original content:http://www.prnewswire.com/news-releases/pura--announces-5-million-investment-at-0-10-pps-valuation-to-fund-cbd-acquisitions-301001670.html
SOURCE Puration, Inc.
> Dow Jones Newswires
February 10, 2020 08:00 ET (13:00 GMT)
Hemp in California: State to revisit legislation allowing CBD in food, beverages
Published 20 hours ago | By Laura Drotleff
FacebookTwitterLinkedInRedditEmail
(Editor’s note: This is part of an occasional series on California’s hemp industry. To read the previous installment, click here.)
Hemp entrepreneurs in California are optimistic that long-awaited state legislation to legalize hemp-derived CBD as an ingredient in food, beverages and cosmetics will be revived from suspension and ready for Gov. Gavin Newsom to approve by spring.
A coalition of hemp farmers, advocates and local governments worked through the off-session to submit amendments aimed at improving the chances of a bill that stipulates that CBD is not an adulterant in the state, according to two board members of the California Hemp Council – Eric Steenstra, president of Vote Hemp, and Patrick Goggin, a San Francisco-based cannabis attorney with Hoban Law Group.
The bill, which would have reversed a 2018 stipulation by California’s health department that hemp-derived CBD can’t be added to food, had significant forward momentum in an emergency push through the state Legislature last fall.
The hemp industry widely expected the CBD bill to be signed into law by Newsom. But the proposal fizzled at the end of the year.
“It was unceremoniously shelved at the end of last session in large part due to the intent to allow for hemp products to go into marijuana retail,” Goggin said. “There wasn’t a meeting of the minds between the hemp industry and the marijuana industry at that time in order to get passage.”
The governor asked the bill sponsor to resolve concerns regarding:
Food safety related to CBD.
Rules associated with selling products in marijuana dispensaries.
Next steps
According to a letter sent to Newsom by the state’s hemp coalition in mid-January, the proposed amendments to the legislation address:
Concerns from the state health department about the mixing of hemp and marijuana raw products within the operations of licensed producers.
Calls for testing parity between hemp and marijuana products.
The new version of the bill calls for hemp to be tested on par with marijuana, bringing the same confidence in the level of testing for contaminants such as metals and pesticides, Goggin said.
“It will address the most important issue, which is consumer safety, by having the products come under the regulation of the California Department of Public Health,” he added.
But not everyone is happy about the proposed amendments.
The marijuana industry wants hemp to be regulated the same way as marijuana, and with the same testing rules, because it is frustrated that hemp farmers are profiting from CBD, according to Chris Boucher, CEO of Farmtiva, a hemp farm and genetics company in Santa Ysabel.
But under a “right to farm” provision in Proposition 64, hemp should be treated as an agricultural product, putting the onus for testing on retailers and handlers instead of farmers, Boucher told Hemp Industry Daily.
“We’re not marijuana farmers, we’re hemp farmers,” he said. “Hemp is just like corn, soybeans, carrots (and) lettuce. And it’s up to the manufacturers and distributors to make sure that there’s no chemicals, pesticides, herbicides in their products – (it’s) not on the farmers.”
California’s legislative calendar means that the CBD bill will be able to pick up where it left off, in the Senate Appropriations Committee.
Goggin hopes that California lawmakers will finish work on the measure and get it to Newsom’s desk by as early as March.
States can step up and self-regulate
Despite the U.S. Food and Drug Administration’s most recent comments that CBD cannot be generally recognized as safe (GRAS) – and subsequent moves by states such as Oregon to ban alcoholic beverages containing CBD and South Carolina to mandate reformulation of animal food and pet treats that contain hemp and CBD – the trend in 2019 was for states to move forward and allow CBD in food and beverages, Goggin said.
“Last year, we saw Indiana, Florida and Texas all pass statutes allowing for these products and putting the jurisdiction under the states’ public health departments,” he said.
The FDA says CBD can’t go in foods. But the agency’s delay in revisiting that CBD rule while ingestible products are widely sold means that more states such as California should pass legislation to protect their consumers, according to Goggin.
“States can’t wait,” he said. “They’ve got their consumers buying products. They want to ensure that they’re buying safe products, and they don’t see the harm in (CBD) products as long as they’re regulated.”
Further, Goggin said as the industry moves into another transitional year that will likely see expanded hemp production, it is critical to provide an economic path for farmers to sell their crops.
“If we’re not regulating processors and manufacturers, then we have a bottleneck and it makes it more difficult for our farmers to prosper and to (be paid) for their crops,” Goggin said.
Josh Schneider, CEO of genetics company Cultivaris Hemp in San Diego, agrees, saying legislation is needed as a way for hemp farmers to drive innovation and development forward in rural areas.
“Many of the farmers around the state that I speak with are considering building or renting commercial kitchens to develop their own cottage-level products and, at the same time, developing relationships with local, regional and national food and beverage companies,” Schneider told Hemp Industry Daily.
“This bill creates a legal framework for the growth and development of a new and vibrant wellness industry linked directly to California farms.”
Laura Drotleff can be reached at laurad@hempindustrydaily.com
Hemp in California: State to revisit legislation allowing CBD in food, beverages
Published 20 hours ago | By Laura Drotleff
FacebookTwitterLinkedInRedditEmail
(Editor’s note: This is part of an occasional series on California’s hemp industry. To read the previous installment, click here.)
Hemp entrepreneurs in California are optimistic that long-awaited state legislation to legalize hemp-derived CBD as an ingredient in food, beverages and cosmetics will be revived from suspension and ready for Gov. Gavin Newsom to approve by spring.
A coalition of hemp farmers, advocates and local governments worked through the off-session to submit amendments aimed at improving the chances of a bill that stipulates that CBD is not an adulterant in the state, according to two board members of the California Hemp Council – Eric Steenstra, president of Vote Hemp, and Patrick Goggin, a San Francisco-based cannabis attorney with Hoban Law Group.
The bill, which would have reversed a 2018 stipulation by California’s health department that hemp-derived CBD can’t be added to food, had significant forward momentum in an emergency push through the state Legislature last fall.
The hemp industry widely expected the CBD bill to be signed into law by Newsom. But the proposal fizzled at the end of the year.
“It was unceremoniously shelved at the end of last session in large part due to the intent to allow for hemp products to go into marijuana retail,” Goggin said. “There wasn’t a meeting of the minds between the hemp industry and the marijuana industry at that time in order to get passage.”
The governor asked the bill sponsor to resolve concerns regarding:
Food safety related to CBD.
Rules associated with selling products in marijuana dispensaries.
Next steps
According to a letter sent to Newsom by the state’s hemp coalition in mid-January, the proposed amendments to the legislation address:
Concerns from the state health department about the mixing of hemp and marijuana raw products within the operations of licensed producers.
Calls for testing parity between hemp and marijuana products.
The new version of the bill calls for hemp to be tested on par with marijuana, bringing the same confidence in the level of testing for contaminants such as metals and pesticides, Goggin said.
“It will address the most important issue, which is consumer safety, by having the products come under the regulation of the California Department of Public Health,” he added.
But not everyone is happy about the proposed amendments.
The marijuana industry wants hemp to be regulated the same way as marijuana, and with the same testing rules, because it is frustrated that hemp farmers are profiting from CBD, according to Chris Boucher, CEO of Farmtiva, a hemp farm and genetics company in Santa Ysabel.
But under a “right to farm” provision in Proposition 64, hemp should be treated as an agricultural product, putting the onus for testing on retailers and handlers instead of farmers, Boucher told Hemp Industry Daily.
“We’re not marijuana farmers, we’re hemp farmers,” he said. “Hemp is just like corn, soybeans, carrots (and) lettuce. And it’s up to the manufacturers and distributors to make sure that there’s no chemicals, pesticides, herbicides in their products – (it’s) not on the farmers.”
California’s legislative calendar means that the CBD bill will be able to pick up where it left off, in the Senate Appropriations Committee.
Goggin hopes that California lawmakers will finish work on the measure and get it to Newsom’s desk by as early as March.
States can step up and self-regulate
Despite the U.S. Food and Drug Administration’s most recent comments that CBD cannot be generally recognized as safe (GRAS) – and subsequent moves by states such as Oregon to ban alcoholic beverages containing CBD and South Carolina to mandate reformulation of animal food and pet treats that contain hemp and CBD – the trend in 2019 was for states to move forward and allow CBD in food and beverages, Goggin said.
“Last year, we saw Indiana, Florida and Texas all pass statutes allowing for these products and putting the jurisdiction under the states’ public health departments,” he said.
The FDA says CBD can’t go in foods. But the agency’s delay in revisiting that CBD rule while ingestible products are widely sold means that more states such as California should pass legislation to protect their consumers, according to Goggin.
“States can’t wait,” he said. “They’ve got their consumers buying products. They want to ensure that they’re buying safe products, and they don’t see the harm in (CBD) products as long as they’re regulated.”
Further, Goggin said as the industry moves into another transitional year that will likely see expanded hemp production, it is critical to provide an economic path for farmers to sell their crops.
“If we’re not regulating processors and manufacturers, then we have a bottleneck and it makes it more difficult for our farmers to prosper and to (be paid) for their crops,” Goggin said.
Josh Schneider, CEO of genetics company Cultivaris Hemp in San Diego, agrees, saying legislation is needed as a way for hemp farmers to drive innovation and development forward in rural areas.
“Many of the farmers around the state that I speak with are considering building or renting commercial kitchens to develop their own cottage-level products and, at the same time, developing relationships with local, regional and national food and beverage companies,” Schneider told Hemp Industry Daily.
“This bill creates a legal framework for the growth and development of a new and vibrant wellness industry linked directly to California farms.”
Laura Drotleff can be reached at laurad@hempindustrydaily.com
Hemp in California: State to revisit legislation allowing CBD in food, beverages
Published 20 hours ago | By Laura Drotleff
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(Editor’s note: This is part of an occasional series on California’s hemp industry. To read the previous installment, click here.)
Hemp entrepreneurs in California are optimistic that long-awaited state legislation to legalize hemp-derived CBD as an ingredient in food, beverages and cosmetics will be revived from suspension and ready for Gov. Gavin Newsom to approve by spring.
A coalition of hemp farmers, advocates and local governments worked through the off-session to submit amendments aimed at improving the chances of a bill that stipulates that CBD is not an adulterant in the state, according to two board members of the California Hemp Council – Eric Steenstra, president of Vote Hemp, and Patrick Goggin, a San Francisco-based cannabis attorney with Hoban Law Group.
The bill, which would have reversed a 2018 stipulation by California’s health department that hemp-derived CBD can’t be added to food, had significant forward momentum in an emergency push through the state Legislature last fall.
The hemp industry widely expected the CBD bill to be signed into law by Newsom. But the proposal fizzled at the end of the year.
“It was unceremoniously shelved at the end of last session in large part due to the intent to allow for hemp products to go into marijuana retail,” Goggin said. “There wasn’t a meeting of the minds between the hemp industry and the marijuana industry at that time in order to get passage.”
The governor asked the bill sponsor to resolve concerns regarding:
Food safety related to CBD.
Rules associated with selling products in marijuana dispensaries.
Next steps
According to a letter sent to Newsom by the state’s hemp coalition in mid-January, the proposed amendments to the legislation address:
Concerns from the state health department about the mixing of hemp and marijuana raw products within the operations of licensed producers.
Calls for testing parity between hemp and marijuana products.
The new version of the bill calls for hemp to be tested on par with marijuana, bringing the same confidence in the level of testing for contaminants such as metals and pesticides, Goggin said.
“It will address the most important issue, which is consumer safety, by having the products come under the regulation of the California Department of Public Health,” he added.
But not everyone is happy about the proposed amendments.
The marijuana industry wants hemp to be regulated the same way as marijuana, and with the same testing rules, because it is frustrated that hemp farmers are profiting from CBD, according to Chris Boucher, CEO of Farmtiva, a hemp farm and genetics company in Santa Ysabel.
But under a “right to farm” provision in Proposition 64, hemp should be treated as an agricultural product, putting the onus for testing on retailers and handlers instead of farmers, Boucher told Hemp Industry Daily.
“We’re not marijuana farmers, we’re hemp farmers,” he said. “Hemp is just like corn, soybeans, carrots (and) lettuce. And it’s up to the manufacturers and distributors to make sure that there’s no chemicals, pesticides, herbicides in their products – (it’s) not on the farmers.”
California’s legislative calendar means that the CBD bill will be able to pick up where it left off, in the Senate Appropriations Committee.
Goggin hopes that California lawmakers will finish work on the measure and get it to Newsom’s desk by as early as March.
States can step up and self-regulate
Despite the U.S. Food and Drug Administration’s most recent comments that CBD cannot be generally recognized as safe (GRAS) – and subsequent moves by states such as Oregon to ban alcoholic beverages containing CBD and South Carolina to mandate reformulation of animal food and pet treats that contain hemp and CBD – the trend in 2019 was for states to move forward and allow CBD in food and beverages, Goggin said.
“Last year, we saw Indiana, Florida and Texas all pass statutes allowing for these products and putting the jurisdiction under the states’ public health departments,” he said.
The FDA says CBD can’t go in foods. But the agency’s delay in revisiting that CBD rule while ingestible products are widely sold means that more states such as California should pass legislation to protect their consumers, according to Goggin.
“States can’t wait,” he said. “They’ve got their consumers buying products. They want to ensure that they’re buying safe products, and they don’t see the harm in (CBD) products as long as they’re regulated.”
Further, Goggin said as the industry moves into another transitional year that will likely see expanded hemp production, it is critical to provide an economic path for farmers to sell their crops.
“If we’re not regulating processors and manufacturers, then we have a bottleneck and it makes it more difficult for our farmers to prosper and to (be paid) for their crops,” Goggin said.
Josh Schneider, CEO of genetics company Cultivaris Hemp in San Diego, agrees, saying legislation is needed as a way for hemp farmers to drive innovation and development forward in rural areas.
“Many of the farmers around the state that I speak with are considering building or renting commercial kitchens to develop their own cottage-level products and, at the same time, developing relationships with local, regional and national food and beverage companies,” Schneider told Hemp Industry Daily.
“This bill creates a legal framework for the growth and development of a new and vibrant wellness industry linked directly to California farms.”
Laura Drotleff can be reached at laurad@hempindustrydaily.com
30 states face law changes, group warns
Published 16 hours ago
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As the U.S. Department of Agriculture (USDA) closes an extended public-comment period on its national hemp regulations Wednesday, the agency’s state-level counterparts are warning that the young industry will be harmed if changes aren’t made.
The National Association of State Departments of Agriculture wrote in an open letter that the interim final rule released by the USDA last fall would force “at least 30 states” to change their existing hemp laws in order to comply.
NASDA CEO Barb Glenn said in the statement that the USDA’s hemp rules could “exacerbate competitive differences between the states and hamper growth of the national industry.”
The group is calling for 10 specific changes. Among them:
Extending the number of days in the THC testing window from 15 days to 30 days of harvest.
Dropping the requirement for states to use a laboratory registered with the Drug Enforcement Administration.
Removing Farm Service Agency reporting requirements.
Setting the negligence threshold for THC at 1%.
Allowing state law enforcement, instead of the DEA, to establish protocol for disposal of hot hemp.
The USDA is taking comments until 11:59 p.m. ET on Jan. 29.
The agency has not said when it plans to announce any changes to the rule.