RIVERSIDE, CA, Jan. 11, 2018 (GLOBE NEWSWIRE) — CaliPharms, Inc. (OTC Pink: KGET), a Development Stage Company operating in the California Medicinal Cannabis industry, publicly trading under the OTC Markets symbol “KGET” is pleased to report that recent news stemming from the office of the Attorney General Jeff Sessions will not impact the business plans or operations of CaliPharms, Inc.
CaliPharms currently is focused within the medical marijuana-cannabis industry within the State of California. The company intends to expand into other sectors that support the legalized cannabis industry. The company intends to expand its operations as the laws for each individual State and the Federal Government change and allow.
The company is fully aware of the current legal landscape for cannabis and has not and will not enter into any grey areas of the cannabis sector that straddle legal boundaries between Federal and State laws. Management believes that the Federal laws prohibiting the sale of certain Cannabis related products will eventually soften.
CaliPharms is currently seeking acquisitions in the CBD markets. The cannabidiol (CBD) market is estimated to grow by 700% by 2020, according to Forbes. A new report by market intelligence firm Hemp Business Journal projects that the CBD market will grow to $2.1 billion by 2020, an astronomical jump in value compared to last year’s CBD market of $202 million.
CBD is one of the more than 85 cannabinoids so far identified in marijuana and hemp. Unlike the better-known compound tetrahydrocannabinol (THC), CBD is not psychoactive, meaning it won’t cause a high. Thousands of studies have shown that CBD possesses an array of therapeutic benefits, including antioxidant and neuroprotective properties.
Matt Karnes of Greenwave Advisors stated to Forbes, “In terms of the CBD market size, I estimate an almost $3 billion market by 2021. Right now there are 15 states that allow CBD only — this is in addition to the 28 states plus DC that have legalized medical marijuana,” believing the growing CBD market will exceed the estimations by Hemp Business Journal.
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About CaliPharms, Inc.
CaliPharms Inc., trading under the symbol (KGET) which trades under its former name Kleangas Energy Technologies, Inc. is a development stage medical marijuana-cannabis business. The Company currently is focused within the medical marijuana-cannabis industry. The company intends to expand into other sectors that support the legalized cannabis industry as the laws for each individual State and the Federal Government change and allow.
Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as CaliPharms or KGET or its management “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of similar import. Similarly, statements herein that describe the Company’s business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. Investment into a microcap company is a high risk investment and it should only be considered if you are able to afford a total loss of the investment. Laws and Regulations of Marijuana are currently in direct contradiction between California and Federal Law and these factors should be a part of your consideration when making an investment into KGET.