PLANDAI BIOTECHNOLOGY PROVIDES CLARIFICATION ON RECENT UPDATES RELATING TO THE BUSINESS OF PROTEXT PHARMA
Florida, USA -- May 23, 2018 -- InvestorsHub NewsWire -- Protext Pharma, Inc. (PINKSHEETS: TXTM) ("Protext" or "the Company"), a biotech company engaged in the development of pharmaceutical botanical medicines that are formulated with highly-bioavailable plant extracts, today provided the following statement from Plandai Biotechnology (PLPL) in regards to clarifying recent updates.
Callum Cottrell-Duffield, Chief Operating Officer of Plandaí Biotechnology, today released the following statement. "Plandaí routinely releases updates on subsidiary operations. We are aware that Plandaí’s press release from April 25 created some confusion with shareholders. In December 2016, Protext Pharma acquired from Plandai the entity Plandai Biotechnology SA (PTY), which has a license to develop Phytofare® products for pharmaceutical applications including diabetes. In March 2017, Protext acquired from Plandaí the entity Cannabis Biosciences, Inc., which is a Delaware company that has the license to develop pharmacologic applications using cannabis and the Phytofare® extraction platform. Since acquiring these business' from Plandai (PLPL), Protext management has applied for a medical cannabis license from the South African government which upon issuance would allow for the legal cultivation, extraction, testing, and development of a medicinal platform for cannabis extracts.”
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About Protext Pharma, Inc.
Protext Pharma operates two wholly owned subsidiaries; Plandai Biotechnology South Africa (Pty) Ltd. and Cannabis Biosciences, Inc. The Company is engaged in the research, clinical testing and commercialization of highly bioavailable botanical products—all-natural ingredients formulated for pharmaceutical applications and produced under pharma-grade conditions. Please visit http://www.protextm.co for further information.
About Plandai Biotechnology SA
Through its wholly owned subsidiary Plandai Biotechnology SA, the Company has the exclusive worldwide license to develop Phytofare® extracts from live plant materials including Phytofare® catechin complex, a highly bioavailable, and clinically proven antioxidant complex produced from live green tea leaves. Phytofare® can deliver a therapeutic level of catechins, which function as powerful antioxidants, to the system where they remain active for over 24 hours.
About Cannabis Biosciences
The Company is actively pursuing government licensing that will allow it to use its proprietary processing and extraction technology to commence investigations and produce a full-profile cannabis extract, one that contains both CBD and the precursor acid form of THC (THC-A and THC-B) found in live cannabis plant. The Company's investigations will be designed to show that the Cannabis Biosciences extraction process, which will use live leaf and low temperatures to extract the phyto-chemicals, should leave the acid forms of THC intact, resulting in a non-psychoactive extract with full medicinal potential and having the heightened bioavailability of other Phytofare® extracts.
Safe Harbor Statement
This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.