Business
KALY - Kali-Extracts Brand Name Gains Momentum In Cannabis Extraction Market
KALY - Kali-Extracts Brand Name Gains Momentum In Cannabis Extraction Market.
About this update from North American Cannabis Holdings, Inc.
[{"type":"text","content":"\nDALLAS, June 04, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC: KALY) (“KALY”) today announced an agreement with a New York State Licensed Hemp Cultivation Operation anticipated to generate an estimated $5 million in revenue for KALY. A key aspect of why the New York State Licensed Hemp Cultivation Operation selected Kali-Extracts is because of Kali-Extracts growing brand recognition for high quality extracts. KALY owns and operates a U.S. Patented Cannabis Extraction Process. The company is advancing biotechnology research for the future production of cannabis extract centric pharmaceuticals and at the same time, the company is currently generating revenue from the sale of CBD infused consumer products. The New York State Licensed Hemp Cultivation Operation believes the consignment of its hemp crop to KALY to extract and sell CBD extract under the Kali-Extracts brand name will drive higher volume sales with higher profitability under the Kali-Extracts brand name then if they went it alone. KALY management believes this first consignment and extraction contract is just the beginning and that the company can sign multiple similar contracts which it can efficiently serve with its mobile extraction lab.\n KALY 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 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...