Rising Biosciences Set To Acquire All Assets from PAO Group
SANDUSKY, Ohio, Nov. 07, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Rising Biosciences, Inc. (OTC : RBII) ("RBII" "the Company"), a research and development company focusing on oral and topical pharmaceuticals with strict standards set forward by the pharmaceutical compounding industry and the FDA, is pleased to announce that the Company has reached an agreement with PAO Group (OTC: PAOG) to acquire all current assets including PAO's medical clinics located in Florida, Pennsylvania and Ohio.
Company COO Arthur Hall will be stepping up as President and CEO of Rising Biosciences and interim President and CEO PAO Group as Mr. Robert Webber will be stepping down from both companies to pursue other opportunities. We would like to thank Mr. Webber for his efforts and services of both companies.
Mr. Hall commented: "This strategic move makes great sense as we move into a future where cannabis is a recognized and legal alternative medicine. Simply stated, we can do more and operate more streamlined as one combined company."
Mr. Hall noted: "Placing all of PAO's assets under the Rising Biosciences umbrella immediately adds tremendous value and synergy for us. With other clinics recently selling for over $1.25M (i.e. Invictus), we will be adding substantial value to RBII's bottom line and instantly beefing up our ability to market and sell our cannabis based pharmaceuticals. We wholeheartedly believe that the synergies formed by the respective assets from both corporations will enhance our revenues."
Simultaneous to the transfer of assets to RBII the Company plans for new acquisitions for PAOG that are in line with the current philosophy, mission, and industry sector. RBII wishes to assure that PAO shareholders will not be left in the dark. The leadership is currently negotiating with established private companies within the cannabis producer and processor spaces. Investors can expect further updates as progress is solidified. These moves are being structured to benefit both companies and shareholders.
ABOUT:
Rising Biosciences, Inc., (OTC : RBII) , operating as Rising Biosciences, Inc.is a research and development company focusing on oral and topical cannabis and non-cannabis based pharmaceuticals with strict standards set forward by the pharmaceutical compounding industry.
PAO Group, Inc. (OTC: PAOG) is a publicly traded holdings company dedicated to development and launch of alternative medicine clinics focused on 'non-traditional' patient care solutions. The realm of treatment solutions include cannabis, acupuncture, chiropractic, biofeedback, and other solutions depending upon patient needs.
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