SARASOTA, Florida, November 15, 2018 /PRNewswire/ --
Kali, Inc. (USOTC: KALY) today announced finalizing the acquisition of NCM Biotech. NCM Biotech is 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'. The cannabis pharmaceuticals market is forecasted to reach $50 billion in sales by 2029. The cannabis concentrates for wellness, edibles and recreational markets is forecasted to reach $8.5 billion in annual sales by 2022.
Ongoing NCM Biotech Pharmaceutical Research That Comes With Acquisition
NCM Biotech's current research and ongoing pharmaceutical developments come with the acquisition. Commenting on the research NCM Biotech has undertaken with notable medical institutions in the North East, Frederick Ferri, CEO and Founder of NCM Biotech said, "Some feedback has specifically indicated that a number of our candidate pharmaceutical products under development have a greater efficacy potential than GW Pharmaceutical [GWPH] 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.
NCM Biotech Proven Extract Efficacy For Health and Wellness Product Infusion
NCM Biotech's concentrates have been proven in the health and wellness sector through Puration, Inc.'s (USOTC: PURA) licensing of the NCM Biotech patented extraction process. Puration produces EVERx CBD Sports Water for the sports nutrition market and recently reported revenue approaching $1 million in annual sales.
NCM Biotech Major Pharmaceutical Company Partnerships
Kali, with its recent acquisition of NCM Biotech, has separately announced entering into a joint venture (JV) company called US Cannabis Health with Puration and Nouveau life Pharmaceuticals (USOTC: NOUV). The purpose of the JV is to combine the respective contributions of the three companies, and together, to partner through the JV with major pharmaceutical companies for the purpose of integrating the three companies' respective cannabis specialties with the technologies of the major pharmaceutical companies.
No Kali Inc Public Holding Company Reverse or Forward Spilt
Kali Inc. has already made substantial progress toward resolving the public holding company's current reporting delinquency and anticipates having its financial reporting current within the next 30 days. Kali does not plan to change the capital structure of the public holding company. No reverse or forward spit is planned. Kali plans to promptly divest of its legacy marine management operation. Existing management plans to exit with the divestiture and incoming NCM management is slated for senior management in the Kali public holding company.
Kali plans to release an online presentation next week to present more details on the structure of the acquisition announced today and the company's business development plans for the acquisition. The shareholder presentation will be published from a new company website. Look for new company contact information to come with the launch of the new company website.
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.
SOURCE Kali, Inc.