Puration, Inc. and PAO Group, Inc. announced plans to partner with UC Asset LP (OTCQX: UCASU) in the construction of a cannabis extraction lab. UCASU and PURA have announced entering into a letter of intent outlining terms for UCASU to finance the construction of PURA's Farmersville Hemp Brand facilities on PURA's 72 acre property in Farmersville, Texas. UCASU also plans to provide financing to PURA's Farmersville Hemp Brand partners.

PURA has launched an initiative to build a cooperative of hemp growers and processers all selling under one brand name, Farmersville Hemp, similar to the way that Sun-Maid Raisins collectively markets for growers all selling under one brand name. PURA and PAOG plan to work with UCASU through the program PURA and UCASU are building in conjunction with the cannabis extraction lab PAOG plans to construct with PURA. UCASU's plans with PURA come in conjunction with UCASU's recently announced overall strategy to enter the cannabis real estate market.

A definitive agreement between UCASU and PURA is anticipated to be completed this week.