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Republic of South Africa Medical Marijuana Dispensaries Acquisitions LLC (RSAMMDA.LLC) Completes Acquisition of Protext
June 13, 2022, 11:20 AM CDT
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Republic of South Africa Medical Marijuana Dispensaries Acquisitions LLC
(RSAMMDA.LLC) Completes Acquisition of Protext Mobility, Inc. (TXTM)
JOHANNESBURG, South Africa, June 13, 2022 (GLOBE NEWSWIRE) -- Republic of
South Africa Medical Marijuana Dispensaries Acquisitions LLC (“RSAMMDA.LLC”)
is pleased to announce it has closed on the acquisition of Protext Mobility,
Inc (OTC PINK: TXTM) (A.K.A. Protext Pharma) in a share exchange whereby 100%
of capital stock in RSAMMDA.LLC will be exchanged for Preferred Stock in
Protext. RSAMMDA.LLC. is a jointly owned company focused on acquistions with
two principals, Mr. Dylon Du Plooy and Dr. Ahmed Jamaloodeen (“Dr. J”) who
represent the South African business entities of RSAMMD and Leeds Boerdery.
RSAMMD is a South African pioneer in the research, cultivation, production and
distribution of medical cannabis and cannabinoids. Leeds Boerdery, controlled
by Dr. J, owns the 5000 Hectacre New Castle Farm as well as federally issued
cannabis and hemp licenses issued by the Government of South Africa. RSAMMD
management have taken over the daily operations of Protext headed by Mr. Du
Plooy as CEO and Director, and Dr. Jamaloodeen as President and Chairman of
the Board.
Mr. Dylon Du Plooy, Protext CEO and Principal of RSAMMD.LLC, commented, “This
transaction has been a long time in the making. For the past couple years we
have been focused on building our operations in South Africa and globally,
where have built an extensive infrastructure and global cannabis/hemp
business. During this period of time, we have invested heavily in building a
significant cannabis/hemp operation to facilitate complete seed to sale, R&D,
global off-take agreements for end product as well as all the extraction
infrastructure needed to create what we believe to be some of the highest
quality hemp and cannabis on the planet. In South Africa right now, we have
just completed our semi-annual grow. RSAMMD in Joint Venture with Leeds
Boerdery, cultivated hemp and cannabis crops this past season on a combined
1000+ hectacres. All of this is done under federally issued permits and
licenses to grow, import/export hemp and cannabis, as well as research permits
for conducting testing of final products for human consumption and medicinal
benefits.”
Dr. Jamaloodeen, Protext President and Chairman, commented, “We are excited
about this transaction and taking Protext to the next level. We believe there
to be numerous synergies to incorporate the Protext proprietary live plant
extraction technology and processes into our existing infrastructure. We
envision adding other assets into the operations of Protext, including our
off-take agreements and present sales, with the goal of uplifting exchanges in
the future. As previously announced, Protext and RSAMMD jointly worked
together and conducted a series of tests on live cannabis to prove out that
the Kettle system and extraction technologies did what they were supposed to
do. We look forward to discussing this further as well as our upcoming
operational plans.”
“Over the coming days and weeks, we will be sharing our immediate term road
map and long-term plans we are developing for Protext which should translate
into increasing shareholder value. These plans include adding other valuable
assets to the company which complement the core business, and executing on
commercializing the proprietary live plant extraction technology as well as
deploying our crypto platform, with a TXTM token which we are excited to
rollout very soon,” concluded Mr. Du Plooy.
CONTACT INFORMATION
For all media inquiries or for further information, please contact
Dylon Du Plooy at: dylon@rsammd.co.za
Dr.J at: exportintl@aol.com
About RSAMMD
RSAMMD Acquisitions LLC is a jointly owned business of RSAMMD, a South African
pioneer in the research, cultivation, production and distribution of medical
cannabis and cannabinoids, and Dr. J, who operates the 5000 Hectacre New
Castle Farm as well as the federally issued cannabis and hemp licenses.
Together, we partner with leading hospitals and universities globally to
advance the clinical benefits and applications of cannabinoids.
RSAMMD’s founders are a group of medical doctors and pharmacists, and cannabis
activists who have been at the forefront of medical cannabis legislation and
South African cannabis legalization, which took place in September 2018. We
are committed to the advancement of technology and scientific research that
leads to an improved quality of life for patients around the world.
Please visit www.rsammd.co.za for further information.
About Protext (OTC PINK: TXTM)
Through previously disclosed acquisitions, Protext has engaged in the
research, testing and commercialization of highly bioavailable botanical
products all-natural ingredients formulated for nutraceutical and
pharmaceutical applications through the use of proprietary live plant
extraction technology.
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.
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