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Protext Mobility Completes Name Change to Protext Pharma and Provides Update on Medical Cannabis License
Protext Mobility Completes Name Change to Protext Pharma and Provides Update on Medical Cannabis License.
About this update from Protext Mobility, Inc.
[{"type":"text","content":"\n \n \n Protext Mobility Completes Name Change to Protext Pharma and Provides Update on Medical Cannabis License\n \n \nProtext Mobility Completes Name Change to Protext Pharma and Provides Update on Medical Cannabis License\n \n BOCA RATON, FL--(Marketwired - May 23, 2017) - Protext Pharma, Inc. (OTC PINK: TXTM) (\"Protext\" or \"the Company\"), a biotech company engaged in the development of pharmaceutical applications with highly bioavailable Phytofare® extracts, has announced today that its name change to Protext Pharma, Inc is now effective with the State of Delaware, and is pleased to provide the following shareholders update on its wholly owned subsidiary Cannabis Biosciences. The Company expects to submit the name change to FINRA in the coming days.\n Roger Baylis-Duffield, Chief Executive Officer of Protext Pharma, reports the latest news relating to the establishment of the company's medicines platform in South Africa, through its wholly owned subsidiary Cannabis Biosciences. \"Last week, the company completed an important next step in the process of attaining its medicine cannabis license with a visit by inspectors from the Ministry of Health assigned to validate and approve the dedicated ten thousand square foot premises to undertake this responsibility. When granted, this license is expected to permit the Company to grow, cultivate, develop and produce a non-psychoactive cannabis complex containing the full profile of all the phytonutrients, including cannabinoids, cannabinoid acids, terpenes and polyphenols. Based on Plandai clinically-proven sciences and bioavailability, the new cannabis complex of phytonutrients is expected to achieve pharmaceutical standards.\"\n Mr. Baylis-Duffield added, \"After meeting with the inspectors this week, our further understanding is the application will be reviewed for approval by the Portfolio Committee, followed by granting of the license which is expected to occur in June 2017. Once issued, we believe this will be the first license of its kind to be issued to the private sector on the continent of Africa, and the company will then be one of a few companies in the world legally allowed to conduct research and development and produce cannabis medicines. Part of the forthcoming responsibilities will be to work with the Government of South Africa to develo...