KALY Exits Cannabis Business With Shareholder Cannabis Dividend
July 16 2020 - 11:07AM
InvestorsHub NewsWire
Dallas, TX -- July 16, 2020 -- InvestorsHub NewsWire
-- Kali, Inc. (USOTC:
KALY) (“KALY”) today announced a deal in the works to sell its
cannabis execration subsidiary, NCM Biotech, to PAO Group, Inc.
(USOTC:
PAOG) in exchange for common shares of PAOG that will in turn
be issued to KALY shareholders in a dividend distribution.
The NCM Biotech sale marks an exit from the cannabis industry
for KALY. The company has already developed a new business
direction. The NCM Biotech sale to PAOG is expected to be
complete by the end of July. KALY plans to announce its new
business direction, which is already underway, in conjunction with
the closing of the deal with PAOG.
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.
CONTACT:
Frederick Ferri
ir@kali-extracts.com
(214)
210-0459
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