PAOG Announces Acquisition Of RespRx Entering $200B Biopharma Market
July 30 2020 - 3:25PM
InvestorsHub Cannabis NewsWire
Sandusky, OH -- July 30, 2020 --
InvestorsHub NewsWire -- PAO Group, Inc. (USOTC:
PAOG) today announced the acquisition of RespRx from
Kali-Extracts, Inc. (USOTC:
KALY).
RespRx is a treatment for Chronic
Obstructive Pulmonary Disease (COPD) under development that is
derived from a patented cannabis extraction method - U.S. Patent No. 9,199,960 entitled “METHOD AND
APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE
CANNABIS PLANT.”
The market for
COPD treatment is anticipated to reach $14 billion by
2025.
A patent
application on the RespRx formulation for symptoms associated with
COPD and other similar respiratory conditions has been
filed. 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 has also been
filed.
The global biopharmaceuticals
market reached $186,470 million in 2017, and is forecasted
to grow to $526,008 million by
2025.
The acquisition announced today is part of
PAOG’s overall medical cannabis revitalization strategy. Earlier on
Tuesday this week, PAOG announced the acquisition of a cannabis
cultivation operation developing a proprietary cannabis cultivar
from Puration, Inc. (USOTC:
PURA).
The acquisition of RespRx is an all stock
deal. PAOG has purchased RexpRx from KALY for common
stock. PAOG remains in negotiations with KALY about a
potential comprehensive acquisition of the underlying patent from
which the RespRx formula was
derived.
PAOG
CEO James C. DiPrima is scheduled to
appear tomorrow, July 31, 2020 on MoneyTV with Donald
Baillargeon to discuss the two PAOG acquisitions revitalizing
PAOG's long-term medical cannabis mission by launching PAOG into
the cannabis biopharmaceutical market.
MoneyTV with
Donald Baillargeon is the internationally syndicated television
program all about money and what makes it happen, featuring
informative interviews with company CEOs and executives, providing
insights into their operations and outlooks for their futures.
MoneyTV is seen in over 200 million TV households in more than 75
countries.
The MoneyTV
Interview will be available Friday July 31st
at www.moneytv.net and will be syndicated across multiple channels
and platforms.
Forward-Looking
Statements: Certain statements in this news release may contain
forward-looking information within the meaning of Rule 175 under
the Securities Act of 1933 and Rule 3b-6 under the Securities
Exchange Act of 1934, and are subject to the safe harbor created by
those rules. All statements, other than statements of fact,
included in this release, including, without limitation, statements
regarding potential future plans and objectives of the company are
forward-looking statements that involve risks and uncertainties.
There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ
materially from those anticipated in such statements. Technical
complications, which may arise, could prevent the prompt
implementation of any strategically significant plan(s) outlined
above. The Company undertakes no duty to revise or update any
forward-looking statements to reflect events or circumstances after
the date of this release.
CONTACT
INFORMATION
Contact Us:
Jim DiPrima
888-272-6472
info@pao.group
Kali (CE) (USOTC:KALY)
Historical Stock Chart
From Aug 2024 to Sep 2024
Kali (CE) (USOTC:KALY)
Historical Stock Chart
From Sep 2023 to Sep 2024