Business
PROTEXT MOBILITY ANNOUCNES SIGNING OF LETTER OF INTENT TO ACQUIRE PREMIER VODKA BRAND
PROTEXT MOBILITY ANNOUCNES SIGNING OF LETTER OF INTENT TO ACQUIRE PREMIER VODKA BRAND.
About this update from Protext Mobility, Inc.
[{"type":"text","content":"\n Boca Raton, Florida, Oct. 29, 2021 (GLOBE NEWSWIRE) -- Protext Mobility, Inc. (OTC PINK: TXTM) is pleased to announce it has executed a Letter of Intent to acquire 100% ownership of a premier vodka Brand in the prestigious category of top shelf vodka products.  The transaction includes the acquisition of three individual Companies that comprise the (i) Brand assets, (ii) wine and spirits import license and (iii) national distribution. Upon closing, Protext will own 100% of the three individual Companies in exchange for preferred stock in Protext. This premium vodka is completely odorless without burn, Nine times distilled from the finest French grain, created and produced by a 5th generation master distiller, located in the heart of the world-famous Cognac region of France. Additional details about the transaction, brand, awards, management, and history will be made in the coming days.  The closing of the transaction is anticipated to occur within the next two weeks.    Mr. David Lewis, CEO commented, “Post closing, the owners of the newly acquired business will all remain on board in their current capacity, roles and titles, and are expected to play an integral role in the continued expansion of the vodka brand nationally.  As it relates to the core business of Protext, the owners have a family-related business within the hemp and cannabis space and see synergies in developing Protext’s proprietary live plant extraction technology.  Discussions are ongoing relating to a road map for the build out of an extraction system in North America using Protext’ proprietary methods, processes and Kettle equipment that would be applicable to the hemp and cannabis industries.”  Prior research and trials have shown that the Kettle system, when applied to other medicinal plants, can create an extract that is significantly more bioavailable (10-15x) than a standard extract. This means that the cannabis extract should be significantly more potent requiring a smaller dose, while providing a dose that could potentially last up to 24 hours in the bloodstream, which is in-line with prior clinical results using other medicinal plants such as green tea. Additionally, previous research conducted at a licensed facility outside the US using the Kettle extraction equipment and running low...