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Kali-Extracts Announces CBD Extraction Contract Estimated to Generate $5 Million in 2019 Revenue
Kali-Extracts Announces CBD Extraction Contract Estimated to Generate $5 Million in 2019 Revenue.
About this update from Kali Inc
[{"type":"text","content":"\n\n\n\nKali-Extracts Announces CBD Extraction Contract Estimated to Generate $5 Million in 2019 Revenue\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nKali-Extracts Announces CBD Extraction Contract Estimated to Generate $5 Million in 2019 Revenue\nPR Newswire\nDALLAS, June 4, 2019\n\n\n\nDALLAS, June 4, 2019 /PRNewswire/ -- Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC: KALY) (\"KALY\") today announced entering into an agreement with a New York State Licensed Hemp Cultivation Operation anticipated to generate an estimated $5 million in revenue for KALY. Kali-Extracts owns and operates a U.S. Patented Cannabis Extraction Process. The New York State Licensed Hemp Cultivation Operation has entered into an agreement with KALY to consign its upcoming hemp harvest to KALY whereby KALY will extract CBD from the harvested hemp and market the extracted CBD under the Kali-Extracts brand name. Under the terms of the consignment agreement, KALY will remit payment to the New York State Licensed Hemp Cultivation Operation for the harvested hemp after Kali-Extracts' sale of the extracted CBD. Based on current market prices for hemp-derived CBD and the size of the New York State Licensed Hemp Cultivation Operation's indoor growing capacity, the estimated 2019 revenue potential to KALY from the contract announced today is $5 million.\nKALY is 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 compo...