The valuation has been presented to KALY by an investor interested in acquiring KALY’s U.S. Patented Cannabis Extraction Process.
DALLAS, Oct. 30, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE — Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC: KALY) (“KALY”) today announced a $50 Million valuation for its cannabis extract biopharmaceutical technology.
The valuation has been presented to KALY by an investor interested in acquiring KALY’s U.S. Patented Cannabis Extraction Process and associated biopharmaceutical research and developments. KALY management has entered discussions with the investor but not formally expressed at this point that its willing to consider a sale.
The discussions so far involve a transaction whereby KALY would maintain rights to its Patented Cannabis Extraction Process for business pursuits other than pharmaceutical developments such as the cannabis infused beverage and candy business it currently conducts.
KALY would also continue its CBD extraction business provided to hemp cultivation operations. KALY management considers the valuation consistent with Goldman Small Cap Research’s recent valuation, but management maintains a position that the valuation still does not reflect the full potential of its intellectual property.
KALY’s intellectual property portfolio contains a deep pipeline of cannabinoid product candidates including four distinct compounds listed here:In addition to KALY’s ongoing efforts to develop prescription therapies, KALY has initiated a program to certify its proprietary CBD extracts derived from KALY’s U.S. Patented Extraction Process as an Over-The-Counter (OTC) drug under the requirements prescribed by the U.S. Food and Drug Administration.
Since the last biopharmaceuticals strategy update, KALY has made substantial strides. KALY has since engaged with a major university to initiate a next round of evaluations and testing of its COPD treatment. The university program is anticipated to kickoff soon and the company plans to issue periodic updates as the program proceeds.
KALY has also made recent progress in advancing the development of its other treatments. The advances have been made possible by new partnerships. Announcements about the new partnerships are coming soon.To stay abreast of the latest developments and 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.