Monday, December 10, 2018 2:17:33 PM
Puration, Inc. (USOTC: PURA) ("PURA") today announced that Nouveau Life Pharmaceuticals, Inc. (USOTC: NOUV) ("NOUV") has formally declared a 1:5 stock dividend whereby NOUV common stock will be issued to the shareholders of PURA at a ratio of one NOUV common share for every five shares of PURA held on the yet to be determined date of record. The NOUV board of directors as resolved to restructure NOUV and issue the stock dividend to PURA shareholders in conjunction with PURA's spinoff of its cannabis cultivation business to NOUV announced October 4, 2018. Subject to necessary regulatory and administrative authority approvals, NOUV plans to set a date of record for the dividend for approximately 30 days from now, and a pay date just after the first of next year.
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