Business
Agtech Global International Closes Galexxy Corporation Acquisition and Strengthens CBD Supply Chain for Growth
Agtech Global International Closes Galexxy Corporation Acquisition and Strengthens CBD Supply Chain for Growth.
About this update from Galexxy Hldgs Inc.
[{"type":"text","content":"Newport Beach, California, June 22, 2021 – Agtech Global International Inc., (OTC MARKETS: AGGL) has successfully completed its acquisition of Galexxy Corporation (“Galexxy”) and will be providing additional financial and corporate resources to support Galexxy’s raw material sourcing and mass marketing of its unique Virtual Retail Marketing System (“VRMS”) hybrid approach for its online premium CBD product range.VRMS combines the physical attributes of the “Brick & Mortar” customer experience with the ease and convenience of online digital shopping. It was developed by Galexxy to reduce the cost and time required to achieve rapid market penetration of its CBD product range into thousands of business and retail outlets that have physical contact with millions of consumers.Agtech’s commercial support will enable Galexxy to both strengthen and extend its November 2020, CBD raw materials off-take agreement with City Farm Industries for anticipated large scale hemp CBD production from City Farm’s 1600-acre leasehold Hanford property. This growing partnership will allow Galexxy to scale its business and aggressively capture market share in the CBD space.To fund the anticipated growth, Agtech is preparing to file a Reg-A Tier One registration statement with the SEC to raise up to $20,000,000, which will be used to fund Galexxy’s business expansion and provide capital for additional CBD related revenue generating acquisitions. Upon filing the Reg-A, Agtech will engage their Institutional Investor to support a significant portion of the raise.According to Ross Lyndon-James, Agtech’s CEO, “The CBD market appears overpriced and ripe for disruption. It’s a rapidly emerging market and is predicted to grow by 500% in the next few years and Galexxy’s Virtual Retail Marketing System also creates a unique, financial opportunity for individuals, business professionals and retail outlets to generate income without any cost or financial risk.” About Us: Agtech is publicly traded on OTC Markets Pink (OTC: AGGL). Based in Newport Beach, California, Agtech recently restructured its agricultural supplies business to enter the rapidly developing markets for premium CBD consumer products. Its “seed to sale” business strategy is keenly focused on the important synergy of health and wealth. For further information: Agtech Global ...