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Posted On: 04/29/2020 3:24:10 PM
Post# of 1354
NetworkNewsBreaks – Pressure BioSciences Inc. (PBIO) Inks Binding LOI to Acquire Cannaworx, Inc.
Pressure BioScience (OTCQB: PBIO), a leader in the development and sale of broadly enabling, pressure-based instruments, consumables and platform-technology solutions to the worldwide life sciences and other industries, today announced that it has signed a binding letter of intent (“LOI”) to merge with Cannaworx, Inc. (USA) and its diverse portfolio of products and intellectual property. The merger will combine Cannaworx’s proprietary portfolio of consumer products with the application of PBIO’s breakthrough ultra shear technology (“UST”). Following the merge, the company will utilize its extensive intellectual property portfolio, consisting of a proprietary pressure platform, nanotechnology and advanced delivery systems, to disrupt markets including the booming U.S. hemp-derived CBD market. “We have been actively searching for an opportunity to participate in the end-product growth and upside we believe our UST platform creates and delivers. We are very excited to bring our companies together for what we believe to be a momentous inflection point in significant new growth and increased shareholder value,” PBIO president and CEO Richard T. Schumacher stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Pressure BioScience (OTCQB: PBIO), a leader in the development and sale of broadly enabling, pressure-based instruments, consumables and platform-technology solutions to the worldwide life sciences and other industries, today announced that it has signed a binding letter of intent (“LOI”) to merge with Cannaworx, Inc. (USA) and its diverse portfolio of products and intellectual property. The merger will combine Cannaworx’s proprietary portfolio of consumer products with the application of PBIO’s breakthrough ultra shear technology (“UST”). Following the merge, the company will utilize its extensive intellectual property portfolio, consisting of a proprietary pressure platform, nanotechnology and advanced delivery systems, to disrupt markets including the booming U.S. hemp-derived CBD market. “We have been actively searching for an opportunity to participate in the end-product growth and upside we believe our UST platform creates and delivers. We are very excited to bring our companies together for what we believe to be a momentous inflection point in significant new growth and increased shareholder value,” PBIO president and CEO Richard T. Schumacher stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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