PAO GROUP INC Announces Indoor Grow and Lab Acquisition, CHAMPS Tradeshow Attendance and CMO Appointment
SANDUSKY, OH -- March 12, 2019 -- InvestorsHub NewsWire -- PAO Group, Inc. (OTC: PAOG), a holdings company focused on the proper use of medical cannabis, and through its subsidiaries who are currently growing medical cannabis in the state of Michigan and pursuing additional MMFLA licensing through LARA for the cultivation, processing, and transportation of medical and recreational cannabis, is pleased to announce that we are moving forward with the acquisition of a cannabis grow and processing lab operation in Romulus, MI.
"The business that we are acquiring is a secure multi-acre multi-building facility, with ample room for expansion to scale with our capabilities," stated PAOG CEO Karl Riedel. The acquisition includes a grow operation, a cannabis extraction and distillate laboratory along with its client base of growers, dispensaries, wholesale edibles and vape producers it has developed over the last eight years. "We are very excited about the opportunity and look forward to servicing the existing wholesale client base of dispensaries and edibles companies in the state of Michigan. The ability to deliver premium quality distillate establishes our brand as a premier processor in the category, and distillate remains the backbone of the cannabis industry through its versatility across consumer products including vape cartridges," continued Riedel.
"Cannabis distillation is a processing and extraction method to isolate THC / CBD compounds, producing a refined oil ("distillate") of over 90% purity, which can then be infused into a variety of products such as vape pens, edibles, pills, topical solutions and more."
"With the recent announcement from LARA, we can continue to operate our current grow operation under Caregiver medical marijuana licenses in Michigan while we transition through the Commercial Grower (Class C) and Processor licensing application process," explains Riedel. According to LARA, "The Dept. of Licensing and Regulatory Affairs (LARA) will recommend at the March 21, 2019 meeting of the Medical Marihuana Licensing Board (MMLB) that the board adopt a resolution which will help maintain patient access to medical marijuana by allowing certain licensed facilities to continue to source product from caregivers. "
The PAOG executive team also recently attended the 20th anniversary CHAMPS Tradeshow in Las Vegas, which is the premier counterculture B2B expo in the cannabis industry. It was the 20th anniversary for CHAMPS Las Vegas, and the 40th Las Vegas trade show for CHAMPS; it was also the 17th CHAMPS trade show attended by PAOG COO Patrick Blasko.
"CHAMPS was a great opportunity for us to meet with a wide variety of vendors in the cannabis industry, and we were very pleased to reconnect with major trade publications, equipment suppliers, and social media influencers at the show. I am confident in the partnerships we forged at CHAMPS, and look forward to building business together with branding, marketing, and OEM opportunities."
PAOG is pleased to announce that we have officially appointed Andres Fernandez as our new Chief Marketing Officer (CMO). PAOG CEO Karl Riedel stated, "I have worked with Andy for over a decade, across 3 different companies; most recently as my Marketing Coordinator at VMR Products. He brings a fresh perspective and creativity to our marketing and branding, and we work very well together. I'm excited to add Andy to the PAOG board of directors, and we are looking forward to unveiling our new cannabis brand High End Products."
Andres Fernandez has a strong management background, having previously served as the Executive Vice President of EuroMed, which was acquired by leading healthcare company McKesson Corporation. "The CHAMPS Tradeshow in Las Vegas was a great place for me to reconnect with the cannabis social media influencers I've worked with in the past and also introduce them to High End Products," stated Fernandez. "I look forward to sharing our vision across all platforms and making High End Products a leading competitor in the cannabis sector."
ABOUT PAOG: PAO Group, Inc. (OTC: PAOG) is a publicly traded holdings company in America dedicated to alternative patient care treatments, including the proper use of medical cannabis. Through its subsidiaries and investment holdings, the company focuses on the growing, processing, and transportation of premium medical cannabis products for the treatment of chronic and terminal patients. PAO Group's holdings include RSB Management, Inc. a team of highly experienced business management professionals focused on expanding the medical cannabis market in Michigan and other medically legal States in the USA. RSB manages a Michigan-based limited-liability corporation, High End Products LLC, which is currently in the process of applying for medical marihuana facility licensing in the state of Michigan through the Department of Licensing And Regulatory Affairs (LARA).
"Our mission is to combat the opioid epidemic in America through the responsible use of medical cannabis." The company is headquartered in Sandusky, OH, with offices in Detroit, MI and Miami, FL.
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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.