Rising India Inc. Signs Letter of Intent with Rising BioSciences, Inc. for Reverse Merger; Entering the Multi-Billion Dollar Legalized Cannabis Markets
NEW YORK, NY--(Marketwired - Feb 23, 2017) - Rising India Inc. (OTC: RSII) is pleased to announce that it has executed a Letter of Intent with Rising BioSciences, Inc. ("RBI") for a reverse merger in which the capital stockholders of RBI will acquire control of Rising India toward immediate execution of a business model with a focus in alternative medical and cannabis pharmaceutical markets.
Rising India CEO, Jim DiPrima has agreed to resign as an officer with the Company making way for the appointment of Robert Weber, who also serves as CEO for PAO Group, listed on the OTC Markets as New Wave Holdings (OTC: NWAV).(which is now PAOG)
"I am very excited about the plans discussed with Weber thus far and have confidence the merger could provide some thrilling possibilities in terms of shareholder value," stated DiPrima.
Robert Weber agrees, "I feel we have some very favorable circumstances here," states Weber. "There are a number of opportunities in development and marketing of cannabis pharmaceuticals that are synergistic with our endeavors at PAO Group and beyond. Rising Biosciences plans to capitalize on these opportunities toward an assertive growth plan for shareholders alongside a highly expansive business model."