New York, NY – October 18, 2018 Kali, Inc. (USOTC: KALY) trading reached record high volume on Friday with over 600 million shares traded. The price per share (PPS) jumped up 100% to close at $0.0006. With a 52-week high of $0.0021, the PPS could still climb over another 300% back to its 52 week high now that the company has entered the red hot cannabis sector.
Kali, Inc. (USOTC: KALY) announced a letter of intent (LOI) on Friday, October 19th, 2018 to acquire NCM Biotech. The Friday press release reported that NCM Biotech has developed 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.” NCM’s process has been engaged in a number of medical and pharmaceutical research and development projects in addition to being licensed to Puration, Inc. (USOTC: PURA) for commercial applications.
Press Release Highlights:
“I have received doctor feedback from more than one of our research initiatives that extracts coming from NCM Biotech’s patented process are superior in purity and quality to any other available cannabis extracts,” said Frederick Ferri, CEO and Founder of NCM Biotech. “Some feedback has specifically indicated that a number of our candidate pharmaceutical products under development have a greater efficacy potential than GW Pharmaceutical [GWPRF] products and candidate products.
The acquisition plans contemplate NCM management assuming the senior management positions at Kali in conjunction with the planned acquisition.
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.
Kali plans to pursue pharmaceutical and other commercial applications of its patented extraction process building on the success of its current research projects and its success with Puration.
Kali maintains assets and operations today in the marina management business of which it plans to divest in conjunction with the planned acquisition of NCM Biotech.
Learn more about NCM Biotech at https://www.ncmbiotech.com/
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.