$PBIO Commenting on the appointment, PBI's current President & CEO Richard T. Schumacher stated, "Availa Bio will use PBI's breakthrough Ultra Shear Technology™ ("UST™"
to process oil-based nutrients and therapies into more effective, water-soluble solutions. We believe this will revolutionize Availa's extensive line of existing and new personal care and consumption products, extending from human into veterinary and agricultural applications. We are honored to have Jim's expertise, experience, and leadership as we enter into this new phase of expected explosive growth for these products, both through current sales channels like QVC, as well as through many new paths of retail distribution and online shopping."
The Letter of Intent between Cannaworx and SkinScience Labs, and the Letter of Intent between PBI and Cannaworx, Inc. are subject to certain closing conditions, including completion of all due diligence and acquisition financing.