Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC: KALY) (“KALY”) today confirmed entering into discussions with Puration, Inc. (USOTC: PURA) (“PURA”) regarding PURA’s possible acquisition of KALY’s CBD confection assets. KALY recently announced plans to consolidate its business structure and focus on its Cannabis Biopharmaceutical Technology spinning of its non-pharmaceutical business assets. 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. The cannabis biopharmaceutical market is anticipated to reach $50 billion by 2029.
PURA currently owns the sole license of KALY’s Patented Cannabis Extraction Process for extracts to be infused into beverages. PURA has recently expanded its beverage production reach into Europe, Latin America and Africa. PURA management is exploring the possibility of expanding its business into the production of additional cannabis infused products.
Source: Biospace
