Agtech Global International Inc. To Acquire NooMeds LLC

Rhea-AI Summary

Agtech Global International Inc. (OTC Pink: AGGL) has announced a Heads of Agreement to acquire NooMeds LLC, a dietary supplement company, from Dr. Malcolm A. Leissring. NooMeds is known for its A.L.Z. Defense supplement, aimed at memory health and tested in animal models for Alzheimer's disease. The acquisition, expected to finalize by August 31, will enhance the product with CBD and integrate it into Galexxy's Brain Health and Fitness segment. This move aligns with AGGL's strategy to enter the CBD consumer products market, addressing the growing demand for Alzheimer's solutions.

Positive

• Acquisition of NooMeds LLC expands AGGL's product portfolio in the health sector.
• A.L.Z. Defense is backed by scientific research, potentially enhancing credibility.
• Integration of CBD into A.L.Z. Defense may increase product appeal and market reach.

Negative

• Integration challenges post-acquisition may affect operational efficiency.
• Dependency on the success of A.L.Z. Defense in a competitive CBD market.

Newport Beach, California, Aug. 24, 2021 (GLOBE NEWSWIRE) -- Agtech Global International Inc. (OTC Pink: AGGL) is pleased to announce it has executed a Heads of Agreement to acquire the dietary supplement company NooMeds LLC from Dr. Malcolm A. Leissring, a Harvard Medical School-trained research scientist and president of the Auguste Deter Foundation (www.ad.foundation), a charitable foundation he established to support research into cures for, and prevention of Alzheimer’s disease.

NooMeds LLC is the owner and manufacturer of A.L.Z. Defense, a scientifically tested dietary supplement formulated for memory health. The core formula within A.L.Z. Defense™ was originally developed by Dr. Curt Hendrix with funding from the National Institutes of health and scientifically tested in two animal models with Alzheimer’s disease, by renowned neuroscientists. As reported in two peer-reviewed scientific publications (Ref: 1 &2), Dr. Hendrix’s formula worked incredibly well in both animal models.

AGGL’s wholly owned subsidiary, Galexxy Corp., expects to finalize the acquisition of NooMeds LLC by August 31 of this year and plans to augment the A.L.Z. Defense™ formula by the addition of high-quality cannabidiol (CBD) and feature ALZ Defense in Galexxy’s Brain Health and Fitness product segment. Alzheimer’s disease is a devastating, progressive, and presently incurable brain disease that affects more than 6 million people in the United States alone.

Dr. Leissring, who was recently awarded a $3-million grant from the National Institutes of Health to continue his research on Alzheimer’s disease at the University of California, Irvine said “As a long-time researcher in the Alzheimer’s field, which has made frustratingly slow progress, it is gratifying to see A.L.Z. Defense enhanced by the addition of CBD and distributed nationally through Galexxy’s unique, patent pending Virtual Retail Marketing System.”

About Us: Agtech is publicly traded on OTC Markets Pink (OTC Pink: AGGL). Based in Newport Beach, California, Agtech recently restructured its agricultural supplies business to enter the rapidly developing markets for premium CBD consumer products. Its “seed to sale” business strategy is keenly focused on the important synergy between health and wealth. Galexxy Corp. is also based in Newport Beach and was recently acquired by AGGL for its aggressive entry into the CBD consumer products market.

References

1. Parachikova A, Green KN, Hendrix C, LaFerla FM. Formulation of a medical food cocktail for Alzheimer's disease: beneficial effects on cognition and neuropathology in a mouse model of the disease. PLoS One. 2010 Nov 17;5(11):e14015. doi: 10.1371/journal.pone.0014015. PMID: 21103342; PMCID: PMC2984445.  LINK
2. Head E, Murphey HL, Dowling AL, McCarty KL, Bethel SR, Nitz JA, Pleiss M, Vanrooyen J, Grossheim M, Smiley JR, Murphy MP, Beckett TL, Pagani D, Bresch F, Hendrix C. A combination cocktail improves spatial attention in a canine model of human aging and Alzheimer's disease. J Alzheimers Dis. 2012;32(4):1029-42. doi: 10.3233/JAD-2012-120937. PMID: 22886019; PMCID: PMC4006672. LINK

For further information:
Agtech Global International Inc.
Ross Lyndon-James
E: ross@galexxy.com
M: (949) 456 3972

Forward-Looking Information: This press release contains “forward-looking information” and “forward-looking statements” (collectively, “statements”). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release.

https://twitter.com/AgtechGlobal

https://www.galexxy.com/

FAQ

What is Agtech Global International's acquisition of NooMeds LLC?

Agtech Global International is acquiring NooMeds LLC, known for its A.L.Z. Defense dietary supplement, to enhance its product offerings.

What is the expected impact of the acquisition on AGGL?

The acquisition aims to boost AGGL's market presence in the CBD and memory health sectors, potentially increasing revenue.

When will the acquisition of NooMeds LLC be finalized?

The acquisition is expected to be finalized by August 31.

What is A.L.Z. Defense and its significance?

A.L.Z. Defense is a clinically tested supplement designed for memory health, originally developed with NIH funding.

How does AGGL plan to enhance A.L.Z. Defense?

AGGL plans to augment A.L.Z. Defense by adding high-quality CBD to the formula.