PURA - KALY- Kali-Extracts Enters Negotiations On Agricultural CBD Extraction Spinoff
Dallas, Texas--(Newsfile Corp. - January 24, 2020) - Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (OTC Pink: KALY) ("KALY") today announced entering negotiations on the spinoff of the company's agricultural CBD extraction business. The spinoff is part of KALY's plans to consolidate its business structure and focus on its Cannabis Biopharmaceutical Technology. KALY has a U.S. Patented Cannabis Extraction Process and is developing treatments for various medical conditions. The technology has been valued at $50 million in conjunction with a recent acquisition offer that KALY management passed on. In addition to spinning-off its agricultural CBD extractions business, KALY has entered into discussions with Puration, Inc. (OTC Pink: PURA) ("PURA") regarding PURA's possible acquisition of KALY's CBD confection assets. The third-party KALY is negotiating with on the spinoff of the agricultural CBD extraction business is not yet disclosed, but the party is a public company and a term sheet agreement is anticipated within the next two weeks.
Follow further developments at
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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