Kali, Inc. designs, markets, and distributes apparel and related products for 20-45 years old men under the VLOV brand name in the People’s Republic of China. The company sells its products to its distributors; and directly to consumers.
Average daily volume for KALY is 45 million shares. Today’s news has caused the volume to increase to 235 million shares in the morning hours of trading.
Kali, Inc. Press Release:
SARASOTA, Fla., Oct. 31, 2018 (GLOBE NEWSWIRE) — via OTC PR WIRE — Kali, Inc. (USOTC: KALY) today announced an online presentation scheduled Friday, November 2nd, 2018 to detail the strategy behind the recently announced plans with Puration, Inc. (USOTC: PURA) and Nouveau Life Pharmaceuticals, Inc. (USOTC: NOUV) to form a joint venture (JV) company to develop cannabis pharmaceutical products. The cannabis pharmaceutical market is anticipated to reach a value of $50 billion by 2029.
Kali recently announced a letter of intent to acquire NCM Biotech, the developer and owner of a patented cannabis extraction process – U.S. Patent No. 9,199,960 entitled “METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT.” Kali and NCM anticipate closing the acquisition next month.
Puration has previously licensed the NCM Biotech patent for use in specific commercial applications. Puration brings its commercial experience to the planned pharmaceutical JV.
Nouveau has recently acquired a cannabis cultivation operation from Puration. In the JV, Nouveau would be tasked with developing a proprietary pharmaceutical grade hemp cultivar.
Frederick Ferri, CEO and Founder of NCM Biotech notes, “Some feedback has specifically indicated that a number of our candidate pharmaceutical products under development have a greater efficacy potential than GW Pharmaceutical products and candidate products.”
NCM Biotech’s medical advisory team includes John N. Gaitanis, MD., Director of Child Neurology at Tufts Medical Center/Floating Hospital for Children; Lloyd R. Saberski, M.D., Associate Professor of Anesthesiology and Chronic Pain Management, Yale University; and John McMichael, Ph.D., President & CEO Beech Tree Labs.
Learn more about NCM Biotech at https://www.ncmbiotech.com/
Representatives of the three companies plan to meet next week in Dallas, Texas at Puration’s headquarters.
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.
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