Kali Inc (OTCMKTS:KALY) has announced bagging a wholesale order worth $100,000 for its Hemp4mula CBD Infused Chewing Gum. Apart from making this product available at select drug stores, the wholesale buyer will also launch part of this order on the proposed USMJ e-commerce site. North American Cannabis Holdings Inc (OTCMKTS:USMJ) will launch the e-commerce site.
Kali Inc doing the business under the name Kali-Extracts has announced the launch of hemp derived CBD infused vapes and candies under the trademark Hemp4mula. It will be available in the denomination of eight pieces with each having 10 mg hemp derived CBD. Kali Extracts is expected to commence the production of hemp derived CBD infused gummies and mints soon. The company is expected to start the production of Hemp4mula vapes in early 2019.
Kali Inc Confirms Takeover of NCM Biotech
Kali Inc has issued an update to the shareholders about the previously announced takeover of NCM Biotech. Following the takeover, the business strategy of Kali Inc has changed dramatically.
Prior to the takeover, the company has been focusing mainly on marina management. It has been struggling to advance the marina management. It is also sluggish in submitting disclosures to comply with OTC market requirements. OTC Markets has warned the investors with a stop sign on the OTC Markets Page of Kali Inc that indicates the company is not current in its filings and take an appropriate decision with respect to the investments.
The company today confirmed the takeover of NCM Biotech announced on November 15, 2018. In an update to the shareholders, it has informed that necessary filings are being ensured to comply with OTC Markets requirements.
Change in Top Management of Kali Inc
Charles Yawn, the current Chief Executive Officer, will step down and takeover the position of Chairman. Frederick Ferri will assume the charge of Chief Executive Officer of the company to drive growth. The New CEO has played a vital role in the development of patented cannabis extraction technology. Kali Inc now owns the patented cannabis extraction technology.
Puration Inc has obtained a license from NCM Biotech for the patented cannabis extraction technology for use in EVERx. PURA in alliance with Kali Inc is working to develop innovative CBD infused beverages.