PAOG Confirms Q4 2020 Revenue from Cannabis Asset Acquisition
Sandusky, Ohio--(Newsfile Corp. - January 8, 2021) - PAO Group, Inc. (OTC Pink: PAOG) today confirmed that the Company expects to realize and report in Q4 2020 the first revenue from assets acquired in the course of 2020.
In 2020, PAOG acquired a hemp cultivation business from Puration, Inc. (OTC Pink: PURA) and RespRx from Kali-Extracts, Inc. (OTC Pink: KALY). RespRx is a cannabis treatment under development for 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".
The hemp cultivation business came with an existing inventory that has been consigned to a retail sales operation. The existing inventory is valued at approximately $300,000 and PAOG expects to realize its first sales from the consigned inventory in Q4 2020.
PAOG has recently made substantial progress in advancing its business plan in conjunction with the two cannabis industry acquisitions and expects to publish a management update next week.
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.
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