DALLAS, Nov. 06, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC: KALY) (“KALY”) today announced that the company’s CBD extraction offering is beginning to see a second wave of contract opportunities. KALY has so far announced three CBD extraction agreements with hemp farming operations worth a potential $15 million. Under the agreements, KALY consigns the crop and harvests the hemp in addition to executing the comprehensive CBD extraction process. As part of the agreement, KALY then agrees to produce and market the CBD consumer products made from the extracted CBD. So far, KALY has not entered into any simple CBD extraction as a service contracts. KALY has experienced some resistance to their “consignment” approach with hemp farming operations wanting to maintain more control of the harvest to end product process. Now that harvest season has arrived, some hemp farming operations are experiencing various challenges with the extraction process and difficulties with the marketing of their CBD end product. KALY is now seeing a second wave of extraction opportunities as the company is being approached by hemp farming operations that have harvested the hemp flower and are no considering KALY’s consignment agreement to process the flower and market the end CBD product.
KALY owns and operates a U.S. Patented Cannabis Extraction Process. In addition to the general extraction services, KALY is also engaged in the production of CBD and THC infused beverages and CBD infused candies. KALY’s primary business is the development of biopharmaceutical treatments from extracts derived from its Patented Extraction Process. KALY has also recently announced a $50 million valuation on its Cannabis Extract Biopharmaceutical Technology.
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