JOHANNESBURG, South Africa, June 13, 2022 (GLOBE NEWSWIRE) — Republic of South Africa Medical Marijuana Dispensaries Acquisitions LLC (“RSAMMDA.LLC”) is happy to announce it has closed on the acquisition of Protext Mobility, Inc (OTC PINK: TXTM) (A.Ok.A. Protext Pharma) in a share change whereby 100% of capital inventory in RSAMMDA.LLC might be exchanged for Most popular Inventory in Protext. RSAMMDA.LLC. is a collectively owned firm centered on acquistions with two principals, Mr. Dylon Du Plooy and Dr. Ahmed Jamaloodeen (“Dr. J”) who symbolize the South African enterprise entities of RSAMMD and Leeds Boerdery. RSAMMD is a South African pioneer within the analysis, cultivation, manufacturing and distribution of medical hashish and cannabinoids. Leeds Boerdery, managed by Dr. J, owns the 5000 Hectacre New Citadel Farm in addition to federally issued hashish and hemp licenses issued by the Authorities of South Africa. RSAMMD administration have taken over the every day 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 very long time within the making. For the previous couple years we’ve got been centered on constructing our operations in South Africa and globally, the place have constructed an in depth infrastructure and international hashish/hemp enterprise. Throughout this time period, we’ve got invested closely in constructing a big hashish/hemp operation to facilitate full seed to sale, R&D, international off-take agreements for finish product in addition to all of the extraction infrastructure wanted to create what we consider to be among the highest high quality hemp and hashish on the planet. In South Africa proper now, we’ve got simply accomplished our semi-annual develop. RSAMMD in Joint Enterprise with Leeds Boerdery, cultivated hemp and hashish crops this previous season on a mixed 1000+ hectacres. All of that is carried out below federally issued permits and licenses to develop, import/export hemp and hashish, in addition to analysis permits for conducting testing of ultimate merchandise for human consumption and medicinal advantages.”
Dr. Jamaloodeen, Protext President and Chairman, commented, “We’re enthusiastic about this transaction and taking Protext to the following stage. We consider there to be quite a few synergies to include the Protext proprietary reside plant extraction expertise and processes into our present infrastructure. We envision including different property into the operations of Protext, together with our off-take agreements and current gross sales, with the objective of uplifting exchanges sooner or later. As beforehand introduced, Protext and RSAMMD collectively labored collectively and performed a collection of assessments on reside hashish to show out that the Kettle system and extraction applied sciences did what they had been speculated to do. We look ahead to discussing this additional in addition to our upcoming operational plans.”
“Over the approaching days and weeks, we might be sharing our speedy time period highway map and long-term plans we’re creating for Protext which ought to translate into growing shareholder worth. These plans embody including different worthwhile property to the corporate which enhance the core enterprise, and executing on commercializing the proprietary reside plant extraction expertise in addition to deploying our crypto platform, with a TXTM token which we’re excited to rollout very quickly,” concluded Mr. Du Plooy.
RSAMMD Acquisitions LLC is a collectively owned enterprise of RSAMMD, a South African pioneer within the analysis, cultivation, manufacturing and distribution of medical hashish and cannabinoids, and Dr. J, who operates the 5000 Hectacre New Citadel Farm in addition to the federally issued hashish and hemp licenses. Collectively, we associate with main hospitals and universities globally to advance the medical advantages and purposes of cannabinoids.
RSAMMD’s founders are a bunch of medical medical doctors and pharmacists, and hashish activists who’ve been on the forefront of medical hashish laws and South African hashish legalization, which befell in September 2018. We’re dedicated to the development of expertise and scientific analysis that results in an improved high quality of life for sufferers around the globe.
Please go to www.rsammd.co.za for additional data.
About Protext (OTC PINK: TXTM)
By means of beforehand disclosed acquisitions, Protext has engaged within the analysis, testing and commercialization of extremely bioavailable botanical merchandise all-natural components formulated for nutraceutical and pharmaceutical purposes via using proprietary reside plant extraction expertise.
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