DALLAS, December 10, 2018 /PRNewswire/ --
Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (KALY) today announced a $300,000 contract with Puration, Inc. (PURA) ("PURA") to produce custom hemp-derived CBD extracts. Kali-Extracts recently acquired a patented cannabis extraction process, that comes with a substantial volume of associated clinical research, in a reverse merger transaction with NCM Biotech. Kali-Extracts is accordingly in the process of rapidly updating the company's public filings with OTCMarkets to both post the legacy operations past-due filings and to reflect the current cannabis extraction business. Kali-Extracts has a new website (http://www.kali-extracts.com) that includes a presentation of the company's new cannabis extraction business plan. Now, less than one month after the reverse merger transaction, where Kali-Extracts acquired the patented cannabis extraction process, the company has signed its first revenue producing contract.
"With the legalization of hemp farming on the near horizon as drafted into the pending 2018 Farm Act, the flood gates are about to open for Kali-Extracts," said Frederick Ferri, the founder of NCM Biotech, and the incoming CEO of Kali-Extracts. "I am already receiving daily inquiries to formulate custom hemp-derived CBD extractions. The pending legalization of hemp farming, combined with the recent DEA removal of CBD from schedule 1, is igniting the commercialization of hemp-derived CBD concentrates for a multitude of applications from pharmaceutical to sports nutrition to over the counter pain management to general health and wellness."
Kali-Extracts Partnership with Puration, Inc.
Kali-Extracts and Puraiton, Inc. have a long-term partnership that predates the reverse merger of NCM Biotech into Kali-Extracts. Puration has the sole license of the Kali-Extracts patented cannabis extraction process - U.S. Patent No. 9,199,960 entitled "METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT." In conjunction with Puration's industry specific license, Puration currently produces EVERx CBD Sports Water, the leading CBD infused water in the sports nutrition market. Puration has trailing twelve-month revenues of approximately $1 million. More recently, Kali-Extracts and Puration, with two other partners, have together formed a joint venture company (JV) titled US Cannabis Health. The purpose of the JV is to pursue partnerships with pharmaceutical companies to produce cannabis extract pharmaceutical applications. The JV has recently signed its first agreement, and in conjunction with that agreement, Puration will produce private labeled hemp-derived CBD infused water under the client pharmaceutical company's name. Puration has engaged Kali-Extracts to make a custom hemp-derived CBD extract specific to the requirements for the private labeled hemp-derived CBD water Puration will produce for the pharmaceutical company.
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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.