Rut roh: WOODLAND HILLS, Calif., April 1, 2014 /P
Post# of 56323
Posted On: 04/01/2014 7:20:54 AM
Rut roh:
WOODLAND HILLS, Calif., April 1, 2014 /PRNewswire/ -- GrowLife, Inc. PHOT +3.67% , a diversified company operating in the legal cannabis industry which develops, markets and deploys products and services of legal cannabis, together with Organic Growth International, LLC ("OGI"), its joint venture with CANX USA, LLC, has extended the date for completion of due diligence and closing the transaction with RXNB Inc. ("RXNB") to April 30, 2014. Under the agreement, GrowLife will sell and distribute RXNB proprietary technologies globally, and share profits related to technology licensing, subject to the approval of the GrowLife Board of Directors. GrowLife currently has a 45% ownership interest in OGI, with conditions under which it can gain majority interest.
RXNB is an investment company with holdings in drug formulation, manufacturing, and distribution. The company represents a recent roll-up of several independent companies in the pharmaceutical and nutraceutical market. RXNB has numerous pending patents in the field of THC research and development.
WOODLAND HILLS, Calif., April 1, 2014 /PRNewswire/ -- GrowLife, Inc. PHOT +3.67% , a diversified company operating in the legal cannabis industry which develops, markets and deploys products and services of legal cannabis, together with Organic Growth International, LLC ("OGI"), its joint venture with CANX USA, LLC, has extended the date for completion of due diligence and closing the transaction with RXNB Inc. ("RXNB") to April 30, 2014. Under the agreement, GrowLife will sell and distribute RXNB proprietary technologies globally, and share profits related to technology licensing, subject to the approval of the GrowLife Board of Directors. GrowLife currently has a 45% ownership interest in OGI, with conditions under which it can gain majority interest.
RXNB is an investment company with holdings in drug formulation, manufacturing, and distribution. The company represents a recent roll-up of several independent companies in the pharmaceutical and nutraceutical market. RXNB has numerous pending patents in the field of THC research and development.
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