Puration has entered into a letter of intent agreement to acquire First Choice Nursery which has an existing twenty-five greenhouse facility in Texas. The company has the opportunity to expand to an additional 400 irrigated greenhouse pads ready for buildout.
"I have received doctor feedback from more than one of our research initiatives that extracts coming from NCM Biotech's patented process are superior in purity and quality to any other available cannabis extracts," said Frederick Ferri, CEO and Founder of NCM Biotech. "Some feedback has specifically indicated that a number of our candidate pharmaceutical products under development have a greater efficacy potential than GW Pharmaceutical products and candidate products."
The pending acquisition of First Choice Nursery is taking over what was a family owned nursery operation. The projected $1 million in annual revenue from the operation of 25 greenhouses will come primarily from the sale of traditional greenhouse grown flowers for use in residential landscaping. The original nursery operation had a long history that includes contracts with Lowes and Home Depot.
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