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KALY – Kali-Extracts Confirms Second Bid On Its Cannabis Biopharmaceutical Technology Valued At $50 Million
11/12/2019 | 09:40am
DALLAS, Nov. 12, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC: KALY) (“KALY”) today confirmed a second party has approached the company to express interest in acquiring KALY’s U.S. Patented Cannabis Extraction Process and related biopharmaceutical technology valued at $50 million. KALY recently announced entering into discussions with a first investor to explore a possible sale of KALY’s cannabis biopharmaceutical technology. The first investor valued the technology at $50 million. KALY management considers the valuation consistent with Goldman Small Cap Research’s recent valuation, but management maintains a position that the valuation still does not reflect the full potential of its intellectual property. The second party expressing interest has not yet communicated the value it places on KALY’s U.S. Patented Cannabis Extraction Process and related biopharmaceutical technology. KALY management indicates it is only entertaining opportunities where KALY management remains involve in the ongoing development of the cannabis biopharmaceutical technology and where KALY maintains rights to the patent in support of its ongoing edible and beverage business as well as in support of its ongoing hemp farming CBD extraction business.
