PURA Acquisition Of KALY CBD Confections On Track To Close Tomorrow
March 12 2020 - 11:57AM
InvestorsHub NewsWire
Dallas, TX -- March 12, 2020 --
InvestorsHub NewsWire -- Puration, Inc. (USOTC:
PURA) and Kali-Extracts (USOTC:
KALY) announced today that the two companies are on track to
close the their previously announced CBD Confections deal tomorrow
on Friday. The final milestone to closing PURA’s acquisition
of KALY’s CBD Confections operation was the completion of a
fairness opinion by a third-party analyst covering the CBD
Confections asset. A draft of the fairness opinion is being
reviewed and both PURA and KALY report that they anticipate to
close tomorrow. The final fairness opinion will be published
on PURA’s website.
KALY has developed the Hemp4mula CBD
Confections line that today sells CBD infused gummies and
gum. KALY 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.
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 recently 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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