PAOG Announces Pending Acquisition To Expand CBD IP Portfolio Scheduled For Early December

Rhea-AI Summary

PAO Group, Inc. (OTC Pink: PAOG) has announced the acquisition of a license to a patented cannabis extraction process, enhancing its existing CBD intellectual property. This follows their previous acquisition of related intellectual property based on U.S. Patent No. 9,199,960. The company aims to develop pharmaceutical and nutraceutical treatments utilizing this intellectual property. The acquisition is expected to finalize in early December, potentially increasing the company's market footprint in the cannabis sector.

Positive

• Acquisition of patented cannabis extraction process enhances CBD intellectual property.
• Development of both pharmaceutical and nutraceutical treatments based on new IP.
• Expected closing of acquisition in early December indicates prompt execution.

Negative

• None.

Sandusky, OH, Nov. 19, 2021 (GLOBE NEWSWIRE) -- PAO Group, Inc. (OTC Pink: PAOG) today announced the company has finalized terms for the acquisition of a license to a patented cannabis extraction process that will expand the company’s existing CBD intellectual property.

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 a 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 acquisition did PAO Group announce on Nov 19, 2021?

PAO Group announced the acquisition of a license for a patented cannabis extraction process to expand its CBD intellectual property.

When is the expected closing date for PAO Group's acquisition?

The acquisition is expected to close in early December 2021.

How does the acquisition impact PAO Group's business operations?

The acquisition is expected to enhance PAO Group's ability to develop pharmaceutical and nutraceutical treatments.

What is the significance of the patented extraction process for PAO Group?

The patented extraction process will strengthen PAO Group's intellectual property portfolio in the CBD market.

Who is selling the patent to PAO Group?

The patent is being acquired from Puration, Inc. (OTC Pink: PURA).