KALY Announces Cannabis Biopharmaceutical Technology Business Consolidation
January 14 2020 - 10:22AM
InvestorsHub NewsWire
KALY Announces Cannabis
Biopharmaceutical Technology Business Consolidation
Dallas, TX --
January 14, 2020 -- InvestorsHub NewsWire -- Kali-Extracts, Inc.
(Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC:
KALY) (“KALY”) today announced plans to consolidate its
business structure and focus on its Cannabis Biopharmaceutical
Technology. KALY has a U.S. Patented Cannabis Extraction
Process and is developing treatments for various medical
conditions. The technology has been valued at $50 million in
conjunction with a recent acquisition offer that ALYI management
passed on. In reaction to the offer, management has refined
its ongoing business plans with the intent of consolidating and
concentrating focus on its Cannabis Biopharmaceutical
Technology. Accordingly, management plans to spin-off its
other lines of business. Specifically, ALYI plans to spin-off
its general agricultural CBD extraction business and CBD
confections business. While ALYI will continue to generate
licensing revenue from the extraction and confection businesses,
the day to day management and operations will be spun-off. A
specific spin-off structure has not yet been defined.
Spin-off details are anticipated to be released next
month.
To stay abreast
of the latest developments and 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
ir@kali-extracts.com
(214)
210-0459
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