Puration Wants To Purchase Kali-Extracts CBD Confection Assets
January 22 2020 - 10:00AM
InvestorsHub NewsWire
Puration Wants To Purchase
Kali-Extracts CBD Confection Assets
January 22, 2020 -- InvestorsHub NewsWire -- via Nina Zdinjak , Benzinga Staff
Writer
January 22, 2020 9:15am
Puration, Inc. (PURA)
and Kali-Extracts, Inc. (KALY) said Tuesday they're
entering into negotiations in relation to Puration’s potential
purchase of Kali-Extracts’ CBD confection assets.
Just recently, Kali-Extracts declared its intention to
consolidated its business structure and concentrate on its Cannabis
Biopharmaceutical Technology spinning of its non-pharmaceutical
business assets. The company owns a U.S. Patented Cannabis
Extraction Process and is working on creating therapies for several
medical conditions.
Its technology carries a value of $50 million in conjunction
with a recent purchase offer that the company’s management
approved, according to the press release.
At the moment, Puration owns the sole license of Kali-Extracts
Patented Cannabis Extraction Process that set up extracts to be
infused into beverages. Just a while ago, Puration reached Europe,
Latin America, and Africa with its beverage production.
Puration's stock closed Tuesday’s session 5.41% lower at $0.037
per share.
Original Source: https://www.benzinga.com/markets/cannabis/20/01/15163003/puration-wants-to-purchase-kali-extracts-cbd-confection-assets
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