Puration, Inc. (OTCPK:PURA) made a proposal to acquire Hemp4mula CBD Confections operations of Kali, Inc. (OTCPK:KALY) on February 12, 2020. As of February 19, 2020, Kali, Inc. accepted the offer made by Puration. Puration closed on a $5 million debt facility to finance the transaction.

As of February 20, 2020, transaction is subject to the drafting, review and approval of documents. As of March 2, 2020, the transaction is underway. As of March 3, 2020, Puration reported that the fairness opinion on the target CBD Confections acquisition coming from a third-party analyst is expected to be complete next week.

Puration expects the acquisition of the CBD Confections operation to close soon after the completion of the fairness opinion. As on March 6, 2020, the transaction is expected to close next Friday. As of March 12, 2020, the draft of the fairness opinion by a third-party analyst covering the CBD Confections asset is being reviewed and both Puration and Kali anticipate to close the deal on March 13, 2020.