Kali-Extracts Inc Announces $300,000 Contract to Produce Hemp-Derived CBD Extract for Puration Inc
December 10 2018 - 8:57AM
InvestorsHub NewsWire
Dallas, TX -- December 10, 2018 --
InvestorsHub NewsWire -- Kali-Extracts, Inc. (Kali, Inc.
dba/Kali-Extracts, Inc.) (USOTC:
KALY) today announced a $300,000 contract with Puration, Inc.
(USOTC:
PURA) (“PURA”) to produce custom hemp-derived CBD
extracts. Kali-Extracts recently acquired a patented cannabis
extraction process, that comes with a substantial volume of
associated clinical research, in a reverse merger transaction with
NCM Biotech. Kali-Extracts is accordingly in the process of
rapidly updating the company’s public filings with OTCMarkets to
both post the legacy operations past-due filings and to reflect the
current cannabis extraction business. Kali-Extracts has a new
website (www.kali-exracts.com) that includes a presentation of
the company’s new cannabis extraction business plan. Now, less than
one month after the reverse merger transaction, where Kali-Extracts
acquired the patented cannabis extraction process, the company has
signed its first revenue producing
contract.
“With the legalization of hemp farming on
the near horizon as drafted into the pending 2018 Farm Act, the
flood gates are about to open for Kali-Extracts,” Said Frederick
Ferri, the founder of NCM Biotech, and the incoming CEO of
Kali-Extracts. “I am already receiving daily inquiries to formulate
custom hemp-derived CBD extractions. The pending legalization
of hemp farming, combined with the recent DEA removal of CBD from
schedule 1, is igniting the commercialization of hemp-derived CBD
concentrates for a multitude of applications from pharmaceutical to
sports nutrition to over the counter pain management to general
health and wellness.”
Kali-Extracts Partnership with Puration,
Inc.
Kali-Extracts and Puraiton, Inc. have a
long-term partnership that predates the reverse merger of NCM
Biotech into Kali-Extracts. Puration has the sole license of
the Kali-Extracts patented cannabis extraction process - U.S.
Patent No. 9,199,960 entitled “METHOD AND APPARATUS FOR PROCESSING
HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS
PLANT.” In conjunction with Puration’s industry specific
license, Puration currently produces EVERx CBD Sports Water, the
leading CBD infused water in the sports nutrition market. Puration
has trailing twelve-month revenues of approximately $1
million. More recently, Kali-Extracts and Puration, with two
other partners, have together formed a joint venture company (JV)
titled US Cannabis Health. The purpose of the JV is to pursue
partnerships with pharmaceutical companies to produce cannabis
extract pharmaceutical applications. The JV has recently
signed its first agreement, and in conjunction with that agreement,
Puration will produce private labeled hemp-derived CBD infused
water under the client pharmaceutical company’s name.
Puration has engaged Kali-Extracts to make a custom hemp-derived
CBD extract specific to the requirements for the private labeled
hemp-derived CBD water Puration will produce for the pharmaceutical
company.
For more information
visit:
www.kali-extracts.com
and
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.
Puration,
Inc.
Contact:
Puration,
Inc.
Brian
Shibley,
info@aciconglomerated.com
(800)
861-1350
Kali, Inc.
Frederick Ferri
ir@kali-extracts.com
(214) 210-0459
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