PAOG Confirms $300,000 Sales Agreement with Cannabis Cultivation Subsidiary

0
32

Sandusky, Ohio–(Newsfile Corp. – February 3, 2021) – PAO Group, Inc. (OTC Pink: PAOG) today confirmed a $300,000 sales agreement executed by the Company’s cannabis cultivation subsidiary. PAOG anticipates approximately $50,000 in revenue per quarter for six quarters starting with an estimated $50,000 in revenue expected to be reported for Q4 2020.

Last summer, PAOG acquired a cannabis cultivation business from Puration, Inc. (OTC Pink: PURA). The acquisition was made in conjunction with PAOG’s overall strategy to refresh and renew its overall cannabis healthcare industry strategy.

Last year, also in conjunction PAOG’s plan to refresh and renew its overall cannabis healthcare industry strategy, the company with PAOG acquired RespRx from Kali-Extracts, Inc. (OTC Pink: KALY). RespRx is a cannabis treatment under development for Chronic Obstructive Pulmonary Disorder (COPD) 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”.

As part of the transaction with PURA, PAOG plans to issue a dividend of one share to PURA shareholders for every one share held of PURA stock. PAOG and PURA anticipate announcing dividend details soon pending the completion of necessary approvals now underway.

Learn more about PAOG at www.paogroupinc.com.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/73587

LEAVE A REPLY

Please enter your comment!
Please enter your name here