Kali Inc (OTCMKTS:KALY) announced on Tuesday that it struck a partnership agreement with Puration Inc (OTCMKTS:PURA) through which they will collaborate to create CBD-infused beer and coffee.
The recently announced partnership fulfills a Puration’s announcement about a week ago through which it revealed that it would collaborate with a beer producer to make CBD-infused beer. Puration also announced that it will team up with a coffee producer to make CBD-infused coffee. The partnership between Kali and Pura will focus on a specific extract that will be infused into coffee.
Kali has been making significant progress with its CBD-infused beverages
Kali owns a cannabis extraction patent in the U.S, which means that e partnership is advantageous for Puration with their plan to produce CBD-infused beverages with 10 mg 25 mg CBD. So far Puration has produced more than 1 million CBD-infused beverages that were sold in the U.S market in 2018. The company’s sales target for 2019 is 4 million.
Puration and Kali will release a presentation in the coming week so that they can reveal more details about their joint endeavor involving beer and coffee. The partnership also highlights the level of innovation that some cannabis companies are pursuing to tap deeper into the rapidly growing market. This also means that the cannabis industry is benefiting from a wider variety of products.
Kali is a biopharma that invests its resources in the discovery, development, and sale of innovative treatments, especially those made from cannabis extracts. Its therapeutics target a wide range of health conditions.
Kali has been on a mission to expand its operations
Kali has also been expanding its business so that it can increase its production capacity and market share. It even acquired another cannabis firm called NCM Biotech towards the end of 2028. NCM Biotech was a strategic acquisition for Kali because the firm was one of the key players in the creation of cannabis-based therapeutics. The acquisition also provided Kali with access to a strong portfolio of intellectual property as well as manufacturing and regulatory expertise which were added advantages.