PAOG Anticipates Boost to CBD Pharmaceutical Research Initiative from Improving Cannabis Legalization Outlook
Sandusky, Ohio--(Newsfile Corp. - April 28, 2021) - PAO Group, Inc. (OTC Pink: PAOG) today highlighted recent cannabis legalization progress anticipated to enhance PAOG's ongoing CBD Pharmaceutical Development Program.
PAOG has partnered with Puration, Inc. (OTC Pink: PURA) to build a pharmaceutical grade indoor hemp grow facility and CBD extraction facility in conjunction with PURA's Farmersville Hemp Brand project in Texas. PURA Farmersville Hemp Brand project partners also include Alkame Holdings, Inc. (OTC Pink: ALKM) and North American Cannabis Holdings, Inc. (OTC Pink: USMJ). See a recent update from PURA on the Farmersville Hemp brand project:
The Texas House of Representatives earlier this week approved a bill to ease marijuana restrictions. At the same time, The Motley Fool reports, "President Joe Biden is in favor of decriminalizing marijuana, while Senate Majority Leader Chuck Schumer is ready to push ahead with full legalization efforts even if Biden isn't completely on board just yet." The Motley Fool article goes on to cite data from a recent Pew Research study, "that 91% of people in the U.S. believe marijuana should be legal for either medical or recreational use, with 60% in favor of both."
PAOG management anticipates the improving cannabis legalization horizon to benefit its ongoing CBD Pharmaceutical Development Program by easing anxiety with research partners and prospective investors that stands in the way of pursuing cannabis development interests.
Last year, PAOG acquired RespRx from Kali-Extracts, Inc. (OTC Pink: KALY). RespRx is a CBD 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."
PAOG is working with Veristat, a contract research organization (CRO), dedicated to the clinical advance of therapies and treatments through regulatory approval.
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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