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.
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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.
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