PAOG Acquisition To Expand CBD IP Portfolio Scheduled To Close December 3rd

Rhea-AI Summary

PAO Group, Inc. (OTC Pink: PAOG) has announced the acquisition of an exclusive license for a patented cannabis extraction process, enhancing its CBD intellectual property portfolio. This transaction is expected to close on December 3, 2021, and builds upon the company’s previous acquisition of related intellectual property. The patent will facilitate the development of pharmaceutical and nutraceutical treatments based on CBD extraction methods. This strategic move aims to bolster PAOG’s market position and expand its product offerings.

Positive

• Acquisition of exclusive license to a patented cannabis extraction process.
• Strengthens existing CBD intellectual property, potentially enhancing market competitiveness.
• Aims to develop pharmaceutical and nutraceutical treatments based on the new extraction process.

Negative

• None.

Sandusky, OH, Nov. 24, 2021 (GLOBE NEWSWIRE) -- PAO Group, Inc. (OTC Pink: PAOG) today announced the acquisition of an exclusive license to patented cannabis extraction process that will expand the company’s existing CBD intellectual property is scheduled to close next week, on Friday, December 3^rd.

Last year, the company acquired intellectual property derived through research into CBD extracted in association with a patented extraction method (U.S. Patent No. 9,199,960). Now, the company will acquire an exclusive license to the patent itself from Puration, Inc. (OTC Pink: PURA)

PAOG is developing both pharmaceutical and nutraceutical treatments for humans based on this intellectual property.

The acquisition is expected to close in early December.

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

FAQ

What is the significance of PAOG's acquisition of the cannabis extraction patent?

The acquisition allows PAOG to expand its CBD intellectual property, enhancing its capabilities in developing pharmaceutical and nutraceutical treatments.

When is the PAOG acquisition of the cannabis extraction patent expected to close?

The acquisition is scheduled to close on December 3, 2021.

Who is the seller of the cannabis extraction patent to PAOG?

PAOG is acquiring the patent from Puration, Inc. (OTC Pink: PURA).

What type of products is PAOG expected to develop with the new patent?

PAOG plans to develop both pharmaceutical and nutraceutical treatments based on the patented cannabis extraction process.