ProText Mobility Inc (TXTM)

[La Dolce Vita]

"Matjaz “Matt” Hrovat, Chief Executive Officer of Growprocess, stated, “We are very excited about this transaction with Protext given the cannabis synergies between our businesses. I have spent the last several years building a successful CBD business and see the significant global opportunity presented by both the blockchain and cannabis industries. We are encouraged by the progress made in the fourth quarter of last year by the Government of South Africa where they officially legalized medical cannabis use. We believe Protext is well positioned to be one of the first companies, if not the first, to receive a Government-issued license to grow cannabis and conduct much-needed pharmaceutical research. With a country of around 55 million citizens, there will be a significant need for a digital ledger track-and-trace technology, which we believe is a perfect foundation for this business. The current global legal cannabis industry does over $7 billion annually, and expected to grow to over $30 billion by 2021, yet there remains a lack of consistent regulations and standardized rules of trade across borders, forcing much of the industry to operate in the shadows and remain outside of the established economic system. As Protext Pharma gears up to commence development of its Phyto-Cannabinoid extract, we want to be at the forefront of ensuring traceability of the product while guaranteeing payment up and down the delivery chain.”

https://globenewswire.com/newsrelease/2018/01/19/1297851/0/en/Protext-Pharma-to-Acquire-Cannabis-Blockchain-Company-Growprocess-Inc.html