SANDUSKY, Ohio, Oct. 29, 2020 /PRNewswire/ -- PAO Group, Inc. (USOTC: PAOG) today announced adding a nutraceutical development pathway to its existing pharmaceutical cannabis drug development strategy. Last week, PAOG announced a master services agreement with a clinical research organization (CRO) in the U.S. to prepare PAOG for initiating an investigational New Drug application (IND) with the Food and Drug Administration (FDA). More details on the CRO contract are coming soon. Now PAOG has committed to simultaneously launching a nutraceutical development initiative drawing on its respiratory therapy cannabis extract treatment research. The nutraceutical development pathway is anticipated to rapidly progress PAOG to a revenue stream while continuing to pursue the pharmaceutical development pathway. PAOG anticipates soon announcing a nutraceutical development contract.
Separately, PAOG confirms plans with Puration, Inc. (USOTC: PURA) to publish a joint update tomorrow, Friday, October 30, 2020 on the progress toward making PURA shareholders PAOG shareholders. PAOG recently acquired PURA's cannabis cultivation operation in a deal that included the issuance of PAOG stock to PURA shareholders in a dividend distribution. Management of the two companies will provide a progress update on the dividend process tomorrow.
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.
SOURCE PAO Group, Inc.