PAOG Announces Acquisition of Resprx Entering $200B Biopharma Market
Sandusky, Ohio--(Newsfile Corp. - July 30, 2020) - PAO Group, Inc. (OTC Pink: PAOG) today announced the acquisition of RespRx from Kali-Extracts, Inc. (OTC Pink: KALY).
Figure 1: RespRx
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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. (OTC Pink: 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.
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