Business
PAO GROUP INC Announces Indoor Grow and Lab Acquisition, CHAMPS Tradeshow Attendance and CMO Appointment
PAO GROUP INC Announces Indoor Grow and Lab Acquisition, CHAMPS Tradeshow Attendance and CMO Appointment.
About this update from Pao Group, Inc.
[{"type":"text","content":"\nSANDUSKY, Ohio, March 12, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- PAO Group, Inc. (OTC: PAOG), a holdings company focused on the proper use of medical cannabis, and through its subsidiaries who are currently growing medical cannabis in the state of Michigan and pursuing additional MMFLA licensing through LARA for the cultivation, processing, and transportation of medical and recreational cannabis, is pleased to announce that we are moving forward with the acquisition of a cannabis grow and processing lab operation in Romulus, MI.\n “The business that we are acquiring is a secure multi-acre multi-building facility, with ample room for expansion to scale with our capabilities,” stated PAOG CEO Karl Riedel. The acquisition includes a grow operation, a cannabis extraction and distillate laboratory along with its client base of growers, dispensaries, wholesale edibles and vape producers it has developed over the last eight years. “We are very excited about the opportunity and look forward to servicing the existing wholesale client base of dispensaries and edibles companies in the state of Michigan. The ability to deliver premium quality distillate establishes our brand as a premier processor in the category, and distillate remains the backbone of the cannabis industry through its versatility across consumer products including vape cartridges,” continued Riedel. “Cannabis distillation is a processing and extraction method to isolate THC / CBD compounds, producing a refined oil (“distillate”) of over 90% purity, which can then be infused into a variety of products such as vape pens, edibles, pills, topical solutions and more.” https://precisionextraction.com/2018/02/making-cannabis-distillate/ “With the recent announcement from LARA, we can continue to operate our current grow operation under Caregiver medical marijuana licenses in Michigan while we transition through the Commercial Grower (Class C) and Processor licensing application process,” explains Riedel. According to LARA, “The Dept. of Licensing and Regulatory Affairs (LARA) will recommend at the March 21, 2019 meeting of the Medical Marihuana Licensing Board (MMLB) that the board adopt a resolution which will help maintain patient access to medical marijuana by allowing certain licensed facilities to conti...