DALLAS, Oct. 25, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC: KALY) (“KALY”) today announced CEO Frederick Ferri met with Butterball’s Jim Maxwell and North Carolina 7th District Congressman David Rouzer to discuss the expansion of the hemp industry in North Carolina.
Utilizing KALY’s U.S. Patented Cannabis Extraction Process, KALY has signed direct cannabis extraction contracts with hemp farming operations with a total value so far of $15 million. KALY management recently announced an anticipated jump in revenue in Q4 2019 related to the company’s CBD extraction contracts with hemp farming operations currently underway now that the hemp harvest season is in full swing. KALY’s core long-term business is biopharmaceutical developments from cannabis extracts. KALY has established a leading position in the development of plant-derived cannabinoid therapeutics through a proven drug discovery and patented development process. KALY now has a deep pipeline of cannabinoid product candidates including four distinct compounds listed here:
Chronic Obstructive Pulmonary Disease (COPD) - The market for COPD treatment is anticipated to reach $14 billion by 2025;
Type 2 Diabetes - The market for Type 2 Diabetes is expected to be a $64 billion market by 2026;
Cancer Pain Management - The overall pain management treatment market is anticipated to reach $83 billion by 2024, and
Epilepsy - The market for epilepsy treatment is anticipated to reach $9 billion by 2022.
In conjunction with the research already conducted and the next phase of research now moving forward, KALY recently filed for a new patent application specifically on its formulation for symptoms associated with COPD and other similar respiratory conditions. KALY also filed for a trademark on the name RespRx as the brand name for its CBD formulation to treat the symptoms associated with COPD and other similar respiratory conditions. The market for COPD treatment is anticipated to reach $14 billion by 2025.
KALY has issued a limited license of its patented process to Puration, Inc. (USOTC: PURA) for the infusion of cannabis extracts into beverages. KALY has also developed and is selling its own line of CBD infused candies under the brand name Hemp4mula. The candies are for sale on North American Cannabis Holdings (USOTC: USMJ) eCommerce site, www.usmj.com.
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.
CONTACT:
Frederick Ferri
ir@kali-extracts.com
(214) 210-0459