KALY – Kali-Extracts Prepares For First Hemp Harvest And CBD Extraction On Contract Worth Anticipated $5 Million
DALLAS, Aug. 29, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC: KALY) (“KALY”) today announced its first cannabinoid tests on hemp flowers from its consigned hemp field in New York. KALY has entered into a contract to extract CBD from a hemp crop managed by a licensed hemp grower in the State of New York. The contract is anticipated to generate as much as $5 million in revenue for KALY.
Yesterday, KALY initiated testing on hemp flowers from the consigned crop in New York. The plants are approaching harvesting maturity and the purpose of the ongoing tests are to time the optimal harvest time to yield the highest CBD quality and content. Current estimates expect harvesting to begin within the next four weeks. Ongoing test results may enable KALY to secure pre-harvest contracts on CBD. The company has already received inquiries validating the potential of pre-harvest contracts.
KALY Analyst Coverage Speculating $0.05 PPS
Yesterday the company announced a new analyst report from Goldman Small Cap Research covering the KALY’s recent biopharmaceutical cannabis extract business development updates. The report can be found in its entirety on Goldman’s website www.goldmanresearch.com. The report speculates a potential KALY price per share of $0.05.
To view the full report visit:
To learn more about the company visit https://www.kali-extracts.com/
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.
CONTACT:
Frederick Ferri
ir@kali-extracts.com
(214) 210-0459
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c39ba07e-c6b8-43f2-b27f-6b56ef39e489
Kali-Extracts
Hemp Field
