PURA will work with KALY to develop a specific extract for the coffee.
DALLAS, July 22, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE – Puration, Inc. (USOTC: PURA) (”PURA”) and Kali-Extracts (aka Kali, Inc.) (USOTC: KALY) (“KALY”) today announced adding CBD infused coffee to the list of new beverage developments.
Last week, PURA announced plans to introduce a CBD infused beer in partnership with an existing beer producer. Later, KALY announced its partnership with PURA to develop the CBD extract for the beer.
In similar fashion, PURA is partnering with an existing coffee producer to introduce a CBD infused coffee, and PURA will work with KALY to develop a specific extract for the coffee.
KALY has a U.S. Patent for Cannabis Extraction and partners with PURA now on 10 mg and 25 mg CBD infused sports beverages. PURA is a leading CBD infused beverage company having produced over $1 million in CBD Beverages in the United States last year. PURA has targeted $4 million in sales for 2019.
The two companies plan to release a management presentation next week with more details on the coffee and beer intiatives.
KALY is primarily a 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.
PURA Speculative Buy Recommendation and $0.25 PPS Target w/Potential to $0.35
For more information on Puration, visit http://www.purationinc.com
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.