Business
KALY 2019 $20 Million CBD Extraction Target Receives Support From New York Trend
KALY 2019 $20 Million CBD Extraction Target Receives Support From New York Trend.
About this update from North American Cannabis Holdings, Inc.
[{"type":"text","content":"\nExtraction Business Adds to KALY Pharma Business and PURA and USMJ Partnerships\n DALLAS, June 17, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC: KALY) (“KALY”) plans to expand its CBD extraction business to $20 million in 2019 sales.  KALY recently announced a contract with a New York State Licensed Hemp Cultivation Operation anticipated to generate an estimated $5 million in revenue for KALY. Today, based on an NBC News Report, KALY’s hemp derived CBD extraction business seems more than ever to be on point in the State of New York. The report highlights a major farming movement in New York toward hemp cultivation. Management is remaining open to the potential of raising its 2019 $20 million CBD extraction target. See KALY’s full plan to expand its extraction business to $20 million in sales: Kali-Extracts Mobile Cannabis Extraction Capacity KALY Pharma Business and PURA and USMJ Partnerships KALY is primarily a 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 compounds. KALY has completed the first stage of clinical development and testing for a Chronic Obstructive Pulmonary Disease (COPD) therapy and is currently conducting phase one development and trials for compounds targeting Cancer Pain Management, Type 2 Diabetes and Epilepsy. KALY is not relying on its biopharmaceutical development strategy alone to insure the company’s long-term success.  With the popularity of cannabis extracts for infusion into various consumer products, KALY’s patented extraction process offers arguably the highest quality extract to the infusion market.  Drawing o...