Puration Wants To Purchase Kali-Extracts CBD Confection Assets

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