DALLAS, Jan. 15, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE — Nouveau Life Pharmaceuticals, Inc. (dba/Nouveau Inc.) (USOTC: NOUV) (“NOUV”) and Puration, Inc. (USOTC: PURA) (“PURA”) today announced that Brian Shibley, the current CEO PURA has been appointed as the interim CEO of NOUV. On October 4, 2018, PURA sold its cannabis cultivation business to NOUV in exchange for a $1.2 million convertible note with a commitment that the note would promptly be converted into shares of NOUV and that those converted shares would be distributed in a stock dividend to the shareholders of PURA. The process of updating NOUV’s public filings in order to proceed with the dividend has taken longer than originally anticipated. Brian Shibley’s appointment as CEO is anticipated to reaccelerate the update of NOUV public filings and in so doing, speed up the anticipated dividend of NOUV shares to PURA shareholders.
“Shareholders of NOUV and PURA can expect to see public fling updates this week,” committed Brian Shibley, the CEO of both companies. “I will make sure through public announcements that shareholders are kept abreast of the updates on a blow by blow basis. The cultivation business acquired by NOUV is thriving and with the recent legalization of hemp farming in the U.S. under the 2018 Farm Act, shareholders can expect to see 100 acres of hemp planted this spring adding to the existing cultivation operations. Now we need to get the NOUV corporate filings up to speed to reflect the caliber of the current operations under NOUV. After all is in compliance, we will initiate the effort of recruiting and engaging permanent senior management.”
For more information visit http://www.purationinc.com
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.