PAO Group Holds Shareholder Conference
Call with Incoming CEO to Share His Vision for the
Company
SANDUSKY, Ohio -- January 22,
2019 -- InvestorsHub NewsWire -- PAO Group, Inc. (OTC:
PAOG) recently held a shareholder conference call on January
16, 2019, where Interim CEO Arthur Hall introduced Incoming CEO
Karl Riedel to share his vision for the company.
Below is a link to the
full audio
recording of this conference call:
https://youtu.be/TAQITi-fBdw
Incoming CEO Karl Riedel is
excited to be talking the helm of PAOG. Riedel discussed his plans
to take PAO Group, Inc. in a new direction following its recent
transfer of alternative medical centers to Rising Biosciences, Inc.
(OTC: RBII). He assured shareholders that the new direction of PAOG
remains in line with the original mission of the company, which is
to provide patient relief through alternative medicines
including cannabis treatment.
Riedel holds a
Bachelors
Degree from Miami
University (Oxford, OH) and attended law school at University of
Miami (FL). He most recently worked for VMR Products, LLC a
Miami-based company that was the largest online vendor
of electronic cigarettes and vapor devices. He grew the largest
affiliate program in the vapor industry with over 9000 affiliates
worldwide, and was responsible for generating $100MM+ in revenue
for the company. "I've had a lot of experience with online
and offline marketing initiatives, and press and media relations,
and I helped take a startup to an international organization,"
stated Riedel. He most recently helped carry VMR Products to an
acquisition by JUUL Labs, Inc. in October 2018:
https://ecigintelligence.com/juul-buys-world-online-leader-vmr-in-75m-deal/
https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=542726761
"I'm very passionate about
the cannabis industry. I believe that the direction we want to take
PAO Group is very strong. I believe that the medical cannabis market is
a huge and growing industry and right now our initial target is to
tackle the Michigan market," stated Riedel. His short-term goal is
to expand
his team's current cannabis grow operation in the state of Michigan
to a much larger scale, and he believes
that the market in Michigan is ripe for expansion due to the recent
passing of recreational marihuana in November 2018. Riedel brings a
new management team to PAOG with diverse experience, and he is
confident that market domination can be achieved through
effective branding, targeted marketing, and delivering a premium
quality product.
His focus is not only on
tackling the Michigan cannabis market, but also on expanding to
other markets as the political climate in the US
continues
to evolve. According to Riedel, "My intentions for PAO Group
is to
actually take this company and build something with brick and
mortar, and grow to a very large presence that transcends not just
the Michigan market, but there are also some other
markets
that I'd like to expand into." Riedel also stated that he and his
team have begun targeting potential
acquisition of
other players in the Michigan industry who simply do not intend to
apply for licensing under the new regulations, which took effect
January 1,
2019. "
Riedel advised that his team
is currently in the process of applying for medical marihuana
facility licensing in the state of Michigan, and he anticipates
that the preliminary applications will be submitted before the end
of the month with the MI Department of
Licensing And Regulatory Affairs (LARA). He
indicated that the group is pursuing a Grower License, as well as a
Processor License. He also advised that they are currently working
with multiple realtors to scout potential locations
for the
business to operate.
To address shareholder
concerns, Riedel indicated that under new management he does not
intend to conduct any reverse splits on the total number of
outstanding shares of the company. He discussed a potential future
round of fundraising at an appropriate time
to expand the MI
business operation, and confirmed that he is currently
negotiating some very significant debt
reductions with the company's current
debt holders to reduce the financial liability of PAOG by Q2
2019.
Overall, Riedel is poised to assume
the new CEO role of PAOG and eager to take the lead. "I'm very
excited about the opportunities we have with PAO Group and the
direction we can take it in the future," he stated. This conference
call shed light on the new direction for the company and
offered shareholders a long term vision for PAOG with a solid plan
to achieve these objectives under new management.
*NOTE: marihuana is spelled
specifically this way in Michigan Law.
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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:
info@pao.group
1-888-PAO-Group