DALLAS, June 13, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC:KALY) ("KALY") and Nouveau (USOTC:NOUV) ("NOUV") today announced moving forward with a CBD extraction lab the two companies have had in the works now that Texas Governor Greg Abbott signed a new law Monday this week legalizing hemp and hemp-derived products. NOUV has 100 acer's set aside for hemp cultivation. NOUV currently operates a 25-greenhouse growing operation and in partnership with KALY plans to build an additional state-of-the-art greenhouse for the purpose of developing a proprietary cannabis cultivar. KALY has a U.S. Patented Cannabis Extraction Process. Together NOUV and KALY plan to develop proprietary extractions from proprietary cultivars.
KALY Targets $20 Million In 2019 Sales
Earlier this week, the company published a management overview on the company's mobile cannabis extraction capacity. KALY recently announced a contract with a New York State Licensed Hemp Cultivation Operation anticipated to generate an estimated $5 million in revenue for KALY. The extraction for the New York State Licensed Hemp Cultivation Operator will be conducted via a proprietary mobile extraction unit. With the extraction capacity being mobile, KALY management believes the company could contract potentially more than $20 million in similar contracts.
See KALY's full plan to expand its extraction business to $20 million in sales:
Kali-Extracts Mobile Cannabis Extraction Capacity
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.
Source: Kali, Inc.