Sandusky, OH, Dec. 03, 2021 (GLOBE NEWSWIRE) — Puration, Inc. (OTC Pink: PURA) and PAO Group, Inc. (OTC Pink: PAOG) announced the closing of a transaction today whereby PAOG has acquired an exclusive license to a patented cannabis extraction process from PURA that will expand PAOG’s existing CBD intellectual property.
Last year, PAOG acquired intellectual property derived through research into CBD extracted in association with a patented extraction method (U.S. Patent No. 9,199,960). Now the company will acquire a license to the patent itself from PURA.
PAOG is developing both
and nutraceutical treatments for humans based on this intellectual property.
PURA has updated its business model over the course of the last year and is now focusing on the development of a hemp business cooperative under the brand name Farmersville Hemp.
PAOG acquired the license from PURA in exchange for a royalty to be received by PURA.
PAOG and PURA are partnering on the development of CBD infused products to be marketed under the Farmersville Hemp brand name.
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