PROTEXT MOBILITY ANNOUCNES SIGNING OF LETTER OF INTENT TO ACQUIRE PREMIER VODKA BRAND

Rhea-AI Summary

Protext Mobility, Inc. (OTC PINK: TXTM) has announced a Letter of Intent to acquire 100% of a top-shelf vodka brand, comprising three companies focused on brand assets, distribution, and licensing. The vodka is notable for being odorless and nine times distilled from premium French grain. The acquisition will be finalized within two weeks in exchange for preferred stock. CEO David Lewis emphasized the continuity of the new management and potential synergies with Protext's existing cannabis extraction technology, hinting at a roadmap for further development in North America.

Positive

• Acquisition of a premium vodka brand enhances portfolio and market presence.
• Continuity of existing management is expected to facilitate brand expansion.
• Potential synergies identified between vodka brand and cannabis extraction technology.

Negative

• None.

Boca Raton, Florida, Oct. 29, 2021 (GLOBE NEWSWIRE) -- Protext Mobility, Inc. (OTC PINK: TXTM) is pleased to announce it has executed a Letter of Intent to acquire 100% ownership of a premier vodka Brand in the prestigious category of top shelf vodka products.  The transaction includes the acquisition of three individual Companies that comprise the (i) Brand assets, (ii) wine and spirits import license and (iii) national distribution. Upon closing, Protext will own 100% of the three individual Companies in exchange for preferred stock in Protext. This premium vodka is completely odorless without burn, Nine times distilled from the finest French grain, created and produced by a 5^th generation master distiller, located in the heart of the world-famous Cognac region of France. Additional details about the transaction, brand, awards, management, and history will be made in the coming days.  The closing of the transaction is anticipated to occur within the next two weeks.   

Mr. David Lewis, CEO commented, “Post closing, the owners of the newly acquired business will all remain on board in their current capacity, roles and titles, and are expected to play an integral role in the continued expansion of the vodka brand nationally.  As it relates to the core business of Protext, the owners have a family-related business within the hemp and cannabis space and see synergies in developing Protext’s proprietary live plant extraction technology.  Discussions are ongoing relating to a road map for the build out of an extraction system in North America using Protext’ proprietary methods, processes and Kettle equipment that would be applicable to the hemp and cannabis industries.”  Prior research and trials have shown that the Kettle system, when applied to other medicinal plants, can create an extract that is significantly more bioavailable (10-15x) than a standard extract. This means that the cannabis extract should be significantly more potent requiring a smaller dose, while providing a dose that could potentially last up to 24 hours in the bloodstream, which is in-line with prior clinical results using other medicinal plants such as green tea.

Additionally, previous research conducted at a licensed facility outside the US using the Kettle extraction equipment and running lower water temperature in the extraction process with live cannabis plant was shown to produce a cannabis emulsion that tested out having a high THC-A and a low THC level below.1%.  Those investigations demonstrated that full-spectrum cannabinoids can be extracted using the proprietary Kettle system, with minimal metabolic conversion and producing a full spectrum cannabinoid extract without the psychoactive property delivered by THC.

About Protext Mobility, Inc (OTC PINK: TXTM)

Protext operates two wholly-owned subsidiaries; Plandai Biotechnology South Africa (Pty) Ltd. and Cannabis Biosciences, Inc.  The Company is engaged in the research, clinical testing and commercialization of highly bioavailable botanical products—all-natural ingredients formulated for nutraceutical and pharmaceutical applications.

Safe Harbor Statement

This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.

Contact:

mark@mcapmedia.com

FAQ

What is Protext Mobility's acquisition plan for TXTM?

Protext Mobility plans to acquire 100% ownership of a premium vodka brand, including brand assets, distribution, and licensing.

What are the financial implications of the TXTM vodka acquisition?

The acquisition will be conducted in exchange for preferred stock and is intended to enhance Protext's market position.

When is the acquisition by Protext Mobility expected to close?

The acquisition is anticipated to close within the next two weeks.

How will the vodka brand acquisition impact TXTM's core business?

The acquisition is expected to create synergies with Protext's cannabis extraction technology, aiding business development.