DALLAS, Sept. 24, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE — Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC: KALY) (“KALY”) today announced receiving a dramatic number of hemp derived CBD extraction orders.
This is the first hemp harvest season since the federal legalization of hemp farming last year.
KALY has announced two hemp extraction consignment contracts worth a potential $15 million combined. KALY’s extraction model is focused on consigning hemp crops, performing extraction utilizing KALY’s U.S. Patented Cannabis Extraction Process, and marketing the end hemp derived CBD product under the Kali-Extracts brand name. The orders rolling-in now are requesting an extraction service only.
KALY management is prioritizing entering into extraction contracts that replicate KALY’s first two extraction contracts. At the same time, KALY management recognizes the hemp cultivation market lacks sufficient extraction infrastructure and expertise and is accordingly considering the possibility of offering an extraction service that does not include a consignment of the hemp crop or the marketing of the hemp derived CBD extract under the Kali-Extracts brand name.