SANDUSKY, Ohio, Feb. 4, 2021 /PRNewswire/ -- PAO Group, Inc. (USOTC: PAOG) today revealed plans to expand its nutraceutical product reach. The company plans to produce nutraceuticals for additional applications beyond the current focus on care for those experiencing issues associated with Chronic Obstructive Pulmonary Disorder (COPD).
Last year, PAOG acquired RespRx from Kali-Extracts, Inc. (OTC Pink: KALY). RespRx is a cannabis treatment under development for Chronic Obstructive Pulmonary Disorder (COPD) derived from a patented cannabis extraction method - U.S. Patent No. 9,199,960 entitled "METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT."
In addition to PAOG's ongoing efforts to develop a pharmaceutical treatment for COPD, the company has announced engaging with the Puerto Rico Consortium for Clinical Investigation (PRCCI) to assist PAOG with developing its proprietary Cannabidiol (CBD) extract into a nutraceutical product to provide care for those experiencing issues associated with Chronic Obstructive Pulmonary Disorder (COPD).
Today, PAOG is revealing for the first time a broader nutraceutical development initiative with plans to produce nutraceuticals for additional applications. The CBD nutraceutical market was valued at $3.8 billion in 2018 forecasted to grow at CAGR of over 18%.
PAOG plans to establish a revenue stream this year from its nutraceuticals' initiative adding to its recently confirmed a $300,000 sales agreement executed by the company's cannabis cultivation subsidiary. PAOG anticipates approximately $50,000 in revenue per quarter for six quarters starting with an estimated $50,000 in revenue expected to be reported for Q4 2020.
Last summer, PAOG acquired a cannabis cultivation business from Puration, Inc. (USOTC: PURA). The acquisition was made in conjunction with PAOG's overall strategy to refresh and renew its overall cannabis healthcare industry strategy.
PAOG plans to develop and distribute its CBD nutraceuticals with Alkame Holdings, Inc. (OTC Pink: ALKM) as a copacker and North American Cannabis Holdings, Inc. (OTC Pink: USMJ) as a distributor.
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.
Source: PAO Group, Inc.
SOURCE PAO Group, Inc.