SARASOTA, Florida, November 20, 2018 /PRNewswire/ --
Kali, Inc. (USOTC: KALY) today announced publishing a new websiteand hosting an online shareholder presentation from the new website. The presentation details the company's new cannabis pharmaceutical and concentrates business plan following the acquisition of a patented cannabis extraction process to include the
U.S. Patented Cannabis Extraction Process Acquisition Last week, Kali Inc announced the acquisition of NCM Biotech which is the developer and owner of a patented cannabis extraction process - U.S. Patent No. 9,199,960 entitled "METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT." NCM Biotech's current research and ongoing pharmaceutical developments come with the acquisition.
NCM Biotech's medical advisory team includes John N. Gaitanis, MD., Director of Child Neurology at Tufts Medical Center/Floating Hospital for Children; Lloyd R. Saberski, M.D., Associate Professor of Anesthesiology and Chronic Pain Management, Yale University, and John McMichael, Ph.D., President & CEO Beech Tree Labs.
Kali Inc's New Business Plan With the patented intellectual property (IP), to include the existing and ongoing research and development acquired from NCM Biotech, Kali will now concentrate on the development of pharmaceuticals to treat various illnesses, diseases and chronic pain as a symptom of various diagnoses. Kali will also concentrate on the development of health and wellness therapies. The cannabis pharmaceuticals market is forecasted to reach $50 billion in sales by 2029. The cannabis concentrates for wellness, edibles and recreational markets is forecasted to reach $8.5 billion in annual sales by 2022.
Prior to the acquisition by Kali, NCM Biotech was engaged with a number of different universities on a number of separate research initiatives. As an example, and as a preview of an upcoming announcement, NCM has been involved in an ongoing study with a university in Kentucky on the use of a cannabis therapy derived from Kali's patented extraction process for the treatment of Chronic Obstructive Pulmonary Disease (COPD). A paper on the results of the study using Kali's patented extraction process is anticipated to be published soon.
Structure of the NCM Biotech Acquisition and Disposition of Legacy Assets Kali issued a $1.5 million note in exchange for 100% of the issued and outstanding shares of NCM Biotech. In a related transaction, the majority shareholder voting control affected through preferred shares, was assigned to the NCM Biotech seller. No common shares of Kali were issued in the acquisition of NCM Biotech and Kali has no intention of executing either a reverse or forward split of Kali shares in conjunction with the acquisition of NCM Biotech. Kali financial reports are being updated as this presentation is drafted, and the filing of the necessary financial statements required to bring the company current are anticipated to be completed imminently.
Further Updates To Expect Soon On the company website, shareholders will note a new address and telephone number. A new email address will be coming soon as well. The physical address and new telephone number have been secured, but the transition process is still underway. Shareholders can reach the company electronically form the contact page on the new company website. The old contact information will remain live for a short period of time.
US Cannabis Health Kali recently announced is partnership in a Joint Venture, called US Cannabis Health, to combine its resources and expertise with those of Puration, Inc. (PURA) and Nouveau Life Pharmaceuticals, Inc. (NOUV) to together attract partnerships with major pharmaceutical firms for cannabis pharmaceutical developments. The CEO of North American Cannabis Holdings has recently been named as the CEO of the Joint Venture and a formal announcement is anticipated soon. With both Puration and Nouveau operations in the North Texas region, Kali will also relocate its primary operations to the North Texas region.
The presentation today is a glimpse of what the NCM Biotech acquisition brings. Stay tuned and check back frequently for further details and future updates.
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: Kali, Inc. +1-941-444-6994 email@example.com
SOURCE Kali Inc.
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