KALY – Kali-Extracts Receives Proposal To Certify Its CBD Extract As OTC Drug Under FDA Requirements

DALLAS, Sept. 04, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE — Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC: KALY) (“KALY”) today announced the company has received a formal proposal to take one or more of its proprietary CBD extracts derived from the company’s U.S. Patented Extraction Process through a Current Good Manufacturing Practices (cGMPs) certification process for the purpose of certifying the extract as an Over-The-Counter (OTC) drug under the requirements prescribed by the U.S. Food and Drug Administration. “Current Good Manufacturing Practices (cGMPs) represent the U.S. Food and Drug Administration’s extensive requirements that over-the-counter and dietary supplement manufacturers must follow.” Management indicates this is a major undertaking and not to be considered lightly. The proposal is being actively discussed and negotiated. A decision is expected next week on if and how to proceed.
KALY Analyst Report Speculating $0.05 PPS
A recent analyst report from Goldman Small Cap Research published last week covering KALY’s recent biopharmaceutical cannabis extract business development updates has now been updated to the company’s website. The report can be found in its entirety on Goldman’s website www.goldmanresearch.com and on the company’s website, www.kali-extracts.com/analyst-rpt. The report speculates a potential KALY price per share of $0.05.
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.
Frederick Ferri
(214) 210-0459

The Motley Fool
Contributor at mjcanada.ca
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