According to PRNewsWire, The final milestone to closing PURA's acquisition of KALY's CBD Confections operation was the completion of a fairness opinion by a third-party analyst covering the CBD Confections asset. A draft of the fairness opinion is being reviewed and both PURA and KALY report that they anticipate closing tomorrow. The final fairness opinion will be published on PURA's website.
KALY has developed the Hemp4mula CBD Confections line that today sells CBD infused gummies and gum. KALY is selling the operation to streamline its focus on its ongoing cannabis biopharmaceutical business.
KALY's proprietary CBD formulation has been developed for the treatment of symptoms associated with Chronic Obstructive Pulmonary Disease (COPD) and other similar respiratory conditions. The formulation for the treatment of symptoms associated with COPD and other similar respiratory conditions has been derived from the company's the U.S. Patented Cannabis Extraction Process. As detailed in a recently published research study (Journal of Cannabis Research) the KALY U.S. Patented CBD extract provides significant anti-inflammatory responses in vitro. The next phase of research is now moving forward in preclinical in vivo research to expand the evaluation of the effects on lung function, total body distribution, whole body clearance of the extract and dosage evaluations for maximal efficacy. KALY has filed a new patent application specifically on its CBD formulation for symptoms associated with COPD and other similar respiratory conditions. KALY has also filed for a trademark on the name RespRx as the brand name for its CBD formulation to treat the symptoms associated with COPD and other similar respiratory conditions that result from respiratory inflammation.
PURA recently launched a campaign to acquire CBD infused beverage, edible and topical operations and also announced closing on a $5 million investment to fund the acquisition campaign. The $5 million investment is structured as a debt facility whereby funds can be drawn as needed to fund acquisitions. The drawn funds would be secured by the acquired asset and the debt can be repaid in stock at $0.10 per share.
Read More at source: PRNewsWire
PURA is currently working to build a pipeline of more acquisition opportunities.
For more information on Puration, visit http://www.purationinc.com