US-based CBD-infused beverages manufacturer Puration is to extend its reach in the cannabis edibles sector through acquiring Telluride Health Company.

Telluride Happy Water is said to enhance the cannabis experience as a beverage before partaking or during when used in a water-pipe.

Produced using a patented technology formula that reduces the size of water molecules, Telluride Happy Water is said to have a higher level of dissolved oxygen in it than almost any bottled water available in the market.

Financial details of the deal have not been disclosed by the companies.

“The cannabis-infused edibles market is estimated to reach $2.3bn market this year.”

The acquisition of Telluride Health Company is made in conjunction with the North American Cannabis Holdings (USMJ), a spin-off of its AmeriCanna Cafe business.

USMJ affected the spin-off by selling the AmeriCanna Cafe business to Priority Aviation (PJET). Under the USMJ transaction with PJET, it includes a planned dividend distribution of PJET shares to USMJ shareholders.

With the Telluride Health Company acquisition already in progress, Pura noted that it has initiated its first production run of Telluride Happy Water along with it’s with co-packer and partner Alkame Holdings and expects to release Telluride Happy Water before the end of this year.

According to cannabis market research firm Brightfield Group, the cannabis-infused edibles market is estimated to reach $2.3bn market this year and is expected to reach $5.3bn over the next five years.