PURA and KALY Set To Close CBD Confections Deal One Week From Today
March 06 2020 - 10:04AM
InvestorsHub NewsWire
PURA and KALY Set To Close CBD
Confections Deal One Week From Today
Dallas, TX -- March 6, 2020 -- InvestorsHub
NewsWire -- Puration, Inc. (USOTC:
PURA) and Kali-Extracts (USOTC:
KALY) announced today that the two companies plan to close the
their previously announced CBD Confections deal next Friday, one
week from today. PURA is acquiring KALY’s CBD Confections
operation. KALY has developed the Hemp4mula CBD Confections
line that today sells CBD infused gummies and gum. The
Hemp4mula product line is currently available online at
www.USMJ.com, an eCommerce site from North American Cannabis
Holdings, Inc. (USTOC:
USMJ) is selling the operation to streamline its focus on its
ongoing cannabis biopharmaceutical
business.
KALY's
proprietary CBD formulation has been developed for the
treatment of symptoms associated with Chronic
Obstructive Pulmonary Disease (COPD) and other similar
respiratory conditions. The formulation for the treatment of
symptoms associated with COPD and other similar respiratory
conditions has been derived from the company's U.S. Patented
Cannabis Extraction Process. As detailed in a recently
published research study (Journal of Cannabis
Research) the KALY U.S. Patented CBD extract provides
significant anti-inflammatory responses in vitro. The
next phase of research is now moving forward in
preclinical in vivo research to expand evaluation of the
effects on lung function, total body distribution, whole body
clearance of the extract and dosage evaluations for maximal
efficacy. KALY has filed a new patent application
specifically on its CBD formulation for symptoms associated with
COPD and other similar respiratory conditions. KALY has also
filed for a trademark on the name RespRx as the brand
name for its CBD formulation to treat the symptoms associated with
COPD and other similar respiratory conditions that result from
respiratory inflammation.
In
conjunction with the PURA’s acquisition of KALY’s CBD Confections
operations, PURA reported that a fairness opinion on the target CBD
Confections acquisition coming from a third-party analyst is
expected to be complete next week prior to the acquisition
closing. The fairness opinion has been undertaken as one of
the conditions of the agreed acquisition terms between PURA and
KALY.
PURA
recently launched a campaign to acquire CBD infused beverage,
edible and topical operations and also announced closing on a $5
million investment to fund the acquisition campaign. The $5 million
investment is structured as a debt facility whereby funds can be
drawn as needed to fund acquisitions. The drawn funds would
be secured by the acquired asset and the debt can be repaid in
stock at $0.10 per share.
PURA
last week announced the acquisition of a CBD Infused Pet Products
operation. The seller currently provides concierge pet
services through an online portal and the CBD Infused Pet Product
Line will bear the name of the portal. PURA will have access
to the portal and the existing customer base in conjunction with
the purchase agreement. The CBD
pet products market is anticipated to
reach $1.16 billion in
the U.S. alone by 2022
PURA is
currently working to build a pipeline of more acquisition
opportunities.
For
more information on Puration, visit http://www.purationinc.com
Disclaimer/Safe Harbor:
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.
Contact:
Puration, Inc.
Brian Shibley,
info@aciconglomerated.com
(800)
861-1350
Kali-Extracts,
Inc.
Frederick
Ferri
ir@kali-extracts.com
(214) 210-0459
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