WESTON, Florida, September 27, 2018 /PRNewswire/ --
Pyramidion Technology Group, Inc. (OTC: PYTG) announced today the signing of the definitive agreement to acquire 100% of NxGen Brands, LLC ("NxGen Brands") - specialists in CBD (Cannabinoid) extracts and related products.
Doing business as Leafywell, a NxGen Brands company, produces CBD containing products such as CBD oils, tinctures, topical lotions, topical creams, and edible candies. Upon signing the definitive agreement, PYTG will acquire NxGen Brands and all of its assets, all domains including http://www.LeafyWell.com and all intellectual properties.
CEO of PYTG, Carlos Hurtado, states "These are some of the most exciting days we have had thus far - all of the work we have been doing all along including onboarding medical experts to our Board of Advisors has led us to this acquisition affording us the ability to forge ahead with the acquisition of Leafywell. Leafywell stands apart from other companies in that they organically grow, harvest, refine, and produce CBD extracts for integration into a variety of top-notch delivery methods such as oils, tinctures, lotions, and edibles. These products are of the best we have seen and they have the potential to shape the industry."
Leafywell, a Denver, Colorado based company, is wholly responsible for producing their CBD containing products from start to finish - from plant growing to harvesting and from crop to product - all in the USA. Cannabis has been considered as one of the, if not the, largest cash crops in the United States, with a future estimated growth rate of 700% by the end of 2018. Overall, the industry has been valued at upwards of 142 billion dollars - potentially double the value of the global coffee market, according to some recent figures.
Researchers have produced findings related to the effectiveness of CBD extract containing products and its potential use in the treatment of a variety of conditions and ailments such as rheumatoid arthritis, diabetes, alcoholism, post-traumatic stress disorder, epilepsy, antibiotic-resistant infections, neurological disorders, and muscular dystrophy. Field specific experts suggest that this is just the beginning of CBD extract related research.
Dr. Michael McKenzie, MD with a practice specialty in family medicine, in response to the question, "What is your opinion of the use of Cannabinoid containing products?", Dr. McKenzie responded, "We are on the brink of something potentially life changing for many individuals and for our society as a whole. Research has demonstrated many positive effects of the use of CBD containing products and, as a community, we expect this research to continue." He continues on to add, "I am truly honored to be a part of the Advisory Board for PYTG and I can foresee making contributions to the direction of product formulation based on my experience in medicine and treating patients. We have something special here with LeafyWell products and I look forward to the great things to come out of our future interactions with the highly-respected and widely-recognized board members."
The Advisory Board for PYTG has been entrusted with the tasks of product line formula creation, review, polishing, and perfecting as well as seeking potentially new and innovative delivery methods including restorative sports drinks, a variety of lotions, flavored oral consumable oils, vape-able oils, sweets and candies, cookies, in addition to other viable delivery methods.
When CEO, Carlos Hurtado was asked "Why LeafyWell?", he responded by saying, "Why LeafyWell? Well, when you ask the experts what they look for in a CBD containing product and they consistently mention the characteristics and qualities that fit LeafyWell's products with exactitude, you listen and act. The truth of the matter is, we only go for the crème de la crème and that is exactly what we are doing here. Our decisive move puts us right at the industry forefront."
About Pyramidion Technology Group, Inc
Pyramidion Technology Group, Inc. ("PYTG" or the "Company") is best described as a business incubator. The purpose of our business model is to leverage equity, to acquire, merge and or joint venture with early stage companies in emerging sectors, to facilitate growth and cash flow utilizing a diverse distribution method.
Our intention is to develop and acquire fast growing companies in up-trending industries and positioning technology for economic growth. This platform will combine natural relationships, marketing synergies and distribution methods that enable combined companies to provide a wide variety of unique and complete solutions, services and necessities to consumers. We believe our overall business model could effectively create a company of unlimited opportunities for our growing shareholder base.
For more information on PYTG, please visit the Company's website at https://www.pytgcorp.com.
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This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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SOURCE Pyramidion Technology Group, Inc