SARASOTA, Fla., Oct. 19, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Kali, Inc. (KALY) today announced a letter of intent (LOI) to acquire NCM Biotech. NCM Biotech has developed a patented cannabis extraction process - U.S. Patent No. 9,199,960 entitled “METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT.” NCM’s process has been engaged in a number of medical and pharmaceutical research and development projects in addition to being licensed to Puration, Inc. (PURA) for commercial applications.
“I have received doctor feedback from more than one of our research initiatives that extracts coming from NCM Biotech’s patented process are superior in purity and quality to any other available cannabis extracts,” said Frederick Ferri, CEO and Founder of NCM Biotech. “Some feedback has specifically indicated that a number of our candidate pharmaceutical products under development have a greater efficacy potential than GW Pharmaceutical [GWPRF] products and candidate products.
The acquisition plans contemplate NCM management assuming the senior management positions at Kali in conjunction with the planned acquisition.
NCM Biotech’s medical advisory team includes John N. Gaitanis, MD., Director of Child Neurology at Tufts Medical Center/Floating Hospital for Children; Lloyd R. Saberski, M.D., Associate Professor of Anesthesiology and Chronic Pain Management, Yale University, and John McMichael, Ph.D., President & CEO Beech Tree Labs.
Kali plans to pursue pharmaceutical and other commercial applications of its patented extraction process building on the success of its current research projects and its success with Puration.
Kali maintains assets and operations today in the marina management business of which it plans to divest in conjunction with the planned acquisition of NCM Biotech.
Learn more about NCM Biotech at https://www.ncmbiotech.com/
Look for more info on Kali’s plans with NCM biotech next week in a management presentation on the company’s post acquisition business plan.
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.