DALLAS, June 04, 2019 (GLOBE NEWSWIRE) -- via OTC
PR WIRE -- Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.)
(KALY) (“KALYâ€) today announced an
agreement with a New York State Licensed Hemp Cultivation Operation
anticipated to generate an estimated $5 million in revenue for
KALY. A key aspect of why the New York State Licensed Hemp
Cultivation Operation selected Kali-Extracts is because of
Kali-Extracts growing brand recognition for high quality extracts.
KALY owns and operates a U.S. Patented Cannabis Extraction Process.
The company is advancing biotechnology research for the future
production of cannabis extract centric pharmaceuticals and at the
same time, the company is currently generating revenue from the
sale of CBD infused consumer products. The New York State Licensed
Hemp Cultivation Operation believes the consignment of its hemp
crop to KALY to extract and sell CBD extract under the
Kali-Extracts brand name will drive higher volume sales with higher
profitability under the Kali-Extracts brand name then if they went
it alone. KALY management believes this first consignment and
extraction contract is just the beginning and that the company can
sign multiple similar contracts which it can efficiently serve with
its mobile extraction lab.
KALY is biopharmaceutical company focused on
discovering, developing and commercializing novel therapeutics from
a proprietary cannabinoid product platform in a broad range of
disease areas. In the fourth quarter of last year, 2018, KALY
acquired NCM Biotech (NCMB). In NCMB’s four years of operations,
the company has established a leading position in the development
of plant-derived cannabinoid therapeutics through a proven drug
discovery and patented development process. The resulting
intellectual property portfolio and the established regulatory and
manufacturing expertise have created a significant opportunity.
KALY has a deep pipeline of cannabinoid product candidates
including four distinct compounds. KALY has completed the first
stage of clinical development and testing for a Chronic Obstructive
Pulmonary Disease (COPD) therapy and is currently conducting phase
one development and trials for compounds targeting Cancer Pain
Management, Type 2 Diabetes and Epilepsy.
KALY is not relying on its biopharmaceutical development strategy
alone to insure the company’s long-term success. With the
popularity of cannabis extracts for infusion into various consumer
products, KALY’s patented extraction process offers arguably the
highest quality extract to the infusion market. Drawing on KALY’s
patented cannabis extraction expertise, in addition to winning the
$5 million extraction contract announced today, KALY has partnered
with Puration (PURA) to lend its extraction
expertise in the production of EVERx CBD Sports Water, the leading
CBD infused beverage for the sports nutrition market. KALY has also
introduced its own CBD confections line, Hemp4mula with CBD infused
gum already on the market and gummies on the way. Hemp4mula is
available on the Ecommerce site USMJ.com hosted by North American
Cannabis Holdings, Inc. (USMJ) (aka USMJ).
KALY’s non-pharmaceutical extraction revenue strategy offers a
business line that can stand alone, and at the same time provide
KALY with the long-term staying power to bring its cannabis extract
biopharmaceutical products to market.
To learn more about the company visit https://www.kali-extracts.com/
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), and as such, may involve risks and
uncertainties. These forward looking statements relate to, amongst
other things, current expectation of the business environment in
which the company operates, potential future performance,
projections of future performance and the perceived opportunities
in the market. The company's actual performance, results and
achievements may differ materially from the expressed or implied in
such forward-looking statements as a result of a wide range of
factors.
CONTACT:
Frederick Ferri
[email protected]
(214) 210-0459