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.
Don’t miss out on the top cannabis stories of the day. Click here to sign up for our daily insider newsletter.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.