KALY- Kali-Extracts Announces CBD Extraction Contract Estimated To Generate $5 Million In 2019 Revenue
June 04 2019 - 9:00AM
InvestorsHub NewsWire
KALY- Kali-Extracts Announces CBD
Extraction Contract Estimated To Generate $5 Million In 2019
Revenue
Dallas, TX -- June 4, 2019 --
InvestorsHub NewsWire -- Kali-Extracts, Inc. (Kali, Inc.
dba/Kali-Extracts, Inc.) (USOTC:
KALY) (“KALY”) today announced entering into an agreement with
a New York State Licensed Hemp Cultivation Operation anticipated to
generate an estimated $5 million in revenue for KALY.
Kali-Extracts owns and operates a U.S. Patented Cannabis Extraction
Process. The New York State Licensed Hemp Cultivation
Operation has entered into an agreement with KALY to consign its
upcoming hemp harvest to KALY whereby KALY will extract CBD from
the harvested hemp and market the extracted CBD under the
Kali-Extracts brand name. Under the terms of the consignment
agreement, KALY will remit payment to the New York State Licensed
Hemp Cultivation Operation for the harvested hemp after
Kali-Extracts’ sale of the extracted CBD. Based on current
market prices for hemp-derived CBD and the size of the New York
State Licensed Hemp Cultivation Operation’s indoor growing
capacity, the estimated 2019 revenue potential to KALY from the
contract announced today is $5 million.
KALY is
biopharmaceutical company focused on discovering, developing and
commercializing novel therapeutics from a proprietary cannabinoid
product platform in a broad range of disease areas. In the
fourth quarter of last year, 2018, KALY acquired NCM Biotech
(NCMB). In NCMB’s four years of operations, the company has
established a leading position in the development of plant-derived
cannabinoid therapeutics through a proven drug discovery and
patented development process. The resulting intellectual
property portfolio and the established regulatory and manufacturing
expertise have created a significant opportunity. KALY has a
deep pipeline of cannabinoid product candidates including four
distinct compounds. KALY has completed the first stage of
clinical development and testing for a Chronic Obstructive
Pulmonary Disease (COPD) therapy and is currently conducting phase
one development and trials for compounds targeting Cancer Pain
Management, Type 2 Diabetes and Epilepsy.
KALY is
not relying on its biopharmaceutical development strategy alone to
insure the company’s long-term success. With the popularity
of cannabis extracts for infusion into various consumer products,
KALY’s patented extraction process offers arguably the highest
quality extract to the infusion market. Drawing on KALY’s
patented cannabis extraction expertise, in addition to winning the
$5 million extraction contract announced today, KALY has partnered
with Puration (USOTC:
PURA) to lend its extraction expertise in the production of
EVERx CBD Sports Water, the leading CBD infused beverage for the
sports nutrition market. KALY has also introduced its own CBD
confections line, Hemp4mula with CBD infused gum already on the
market and gummies on the way. Hemp4mula is available on the
Ecommerce site USMJ.com hosted by North American Cannabis Holdings,
Inc. (USOTC:
USMJ) (aka USMJ). KALY’s non-pharmaceutical extraction
revenue strategy offers a business line that can stand alone, and
at the same time provide KALY with the long-term staying power to
bring its cannabis extract biopharmaceutical products to
market.
To 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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