Business
Agtech and KRTL Biotech Join Forces to Develop and Distribute Unique CBD and Psilocybin Products
Agtech and KRTL Biotech Join Forces to Develop and Distribute Unique CBD and Psilocybin Products.
About this update from Galexxy Hldgs Inc.
[{"type":"text","content":"\n Newport Beach, California, Oct. 25, 2021 (GLOBE NEWSWIRE) -- Agtech Global International Inc. (Agtech) (name change to Galexxy Holdings Inc. in process) (OTC Pink: AGGL) and KRTL Biotech Inc., (KRTL) of Lakewood Colorado are pleased to jointly announce that they have signed a Memorandum of Understanding to develop and distribute new CBD and Psilocybin compounds and ultimately unique medicines under development by KRTL’s team of US and Korean medical doctors and research scientists, for the treatment of a range of debilitating human disorders. These disorders include but are not limited to pain resulting from the treatment of certain cancers, autism, post-traumatic stress disorder, attention deficit hyperactivity disorder, depression, addiction, concentration improvement and other psychological illnesses just to name a few.  KRTL’s Chief Executive, Dr. Daniel Lee added that “based on successful product development, the global business potential and resulting shareholder value for our companies is very significant. KRTL believes it has assembled a world class and highly competent medical and scientific team to leverage the equivalent of the US FDA approval in Korea, for leading edge product development to service the entire Asian market”. KRTL Biotech Inc. obtained a Ministry of Food and Drug Safety (MFDS) approval (formerly KFDA), to commence researching compounds of Psilocybin and CBD (“Project”) that will better assist global populations in the treatment of specific debilitating disorders. KRTL and its affiliated companies are keen to support and expand Agtech’s market reach and promote its Virtual Retail Marketing Systems™ and Genus™ product range around the world and subject to satisfactory due diligence and funding capacity, AGGL is planning to make a $2,000,000 investment in KRTL to support this worthwhile Project. KRTL will accommodate AGGL’s proposed investment through the issue of equity to Agtech of 10% of KRTL shares and to grant certain commercial licensing rights. These KRTL shares will be revenue sharing and non-dilutive. In addition, Agtech and KRTL are being joined by a consortium of public companies to further move this Project forward, which include: Here To Serve Holding Corp., (OTC Pink: HTSC) and Pervasip Corp., (OTC Pink: PVSP...