PURA and KALY Confirm CBD Confections Acquisition Plans As KALY Gains Potential Coronavirus Treatment Momentum
March 02 2020 - 1:08PM
InvestorsHub NewsWire
PURA and KALY Confirm CBD
Confections Acquisition Plans As KALY Gains Potential Coronavirus
Treatment Momentum
Dallas, TX -- March 2, 2020 --
InvestorsHub NewsWire -- Puration, Inc. (USOTC:
PURA) and Kali-Extracts (USOTC:
KALY) today confirmed the planned acquisition by PURA of KALY’s
CBD Confections Operations is proceeding. KALY is
streamlining its business to concentrate on its Cannabis Extracts
Biopharmaceutical business. KALY’s leading research so far
has been on the treatment of various respiratory conditions.
KALY has received recent attention in reaction to the Coronavirus
outbreak.
KALY confirmed efforts earlier today to evaluate its
proprietary CBD extract formulation as a treatment for coronavirus
symptoms. 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.
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
The CBD Infused Pet Products acquisition
is the first in an anticipated series of acquisitions. 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. A second acquisition of KALY’s CBD
Infused Confections operation is underway. PURA is currently
working to build a pipeline of more acquisition
opportunities.
For more information on Puration,
visit http://www.purationinc.com
To learn more about RespRx,
visit https://www.resprx.com/
Follow further
developments at. https://www.kali-extracts.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
CONTACT:
Kali-Extracts,
Inc.
Frederick Ferri
ir@kali-extracts.com
(214)
210-0459
Puration (CE) (USOTC:PURA)
Historical Stock Chart
From Aug 2024 to Sep 2024
Puration (CE) (USOTC:PURA)
Historical Stock Chart
From Sep 2023 to Sep 2024