February 2020

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KALY Announces $20 Million LOI to Fund Cannabis Biopharmaceutical Technology

DALLAS, Feb. 4, 2020 /PRNewswire/ — Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC: KALY) (‘KALY’) today announced entering into letter of intent (LOI) under which KALY could receive a $20 million investment to fund its Cannabis Biopharmaceutical Technology. KALY has a U.S. Patented Cannabis Extraction Process it uses to produce proprietary formulations for the treatment of various medical conditions. The proposed investment values KALY’s cannabis biopharmaceutical technology at $50 million. The confidential terms of the LOI target a planned $5 million first tranche within ninety days.