SOURCE: Plandai Biotechnology, Inc.

Plandai Biotechnology, Inc.

January 10, 2017 07:00 ET

Plandai Biotechnology Announces Share Exchange Between Protext Mobility and Plandai's South Africa Subsidiary

Plandai South Africa Will Operate Independent From Plandai Parent and Focus on Pharmaceutical Application Research

BOCA RATON, FL--(Marketwired - Jan 10, 2017) - Plandaí Biotechnology, Inc. (OTC PINK: PLPL) ("Plandaí" or "the Company"), producer of the highly bioavailable Phytofare® catechin complex, today announced that it has completed a share exchange between Plandaí Biotechnology South Africa (PTY) LTD "Plandaí SA," and Protext Mobility, Inc. (OTC PINK: TXTM) "Protext", a Delaware company. Under the terms of the Exchange Agreement, Plandaí became the majority owner of Protext with Plandaí SA becoming the successor issuer to Protect for reporting and accounting purposes. It is anticipated that the prior operations and assets of Protext will be liquidated in the coming weeks, leaving Plandaí SA as the surviving operating entity.

Plandaí SA was established in 2014 by Plandaí Biotechnology, Inc. to provide a platform for expanding the research of Plandaí's proprietary Phytofare® extracts into pharmaceutical application and then obtaining product claims. Phytofare® has been clinically proven in human studies to provide ten times greater bioavailability, which is the ability of the body to absorb the nutrients, over generic plant extracts. The first product brought to market, Phytofare® catechin complex, is derived from green tea and contains all eight catechins in a highly absorbable biocompatible structure. Where the parent company, Plandaí Biotechnology, focuses on selling Phytofare® as an ingredient to manufacturers in the nutraceutical industry, Plandaí SA will target the pharmaceutical market with a finished product.

Plandaí SA has the exclusive license and rights to develop, manufacture, and sell all current and future Phytofare® extracts for the pharmaceutical market worldwide. The first targeted product will focus on treating diabetes by regulating blood sugar levels with an expectation of being market ready by the latter half of 2017.

Roger Baylis-Duffield, Chief Executive Officer of Plandaí, commented, "This strategic moves allows us to separate the research component of our business into a separate, self-funding entity, freeing up Plandaí to focus on Phytofare® manufacture and sales. Plandaí SA will operate with distinct management concentrating on pharmaceutical applications and obtaining drug and structure-function claims. Where Plandaí produces and sells an ingredient to the nutraceutical industry, Plandaí SA will produce a finished product targeting a specific application, such as managing glucose levels in diabetics."

About Plandaí Biotechnology, Inc.
Plandaí Biotechnology, Inc (OTC PINK: PLPL). and its subsidiaries develop highly bioavailable extracts. It controls every aspect of the process, from growing the raw materials on its farms in South Africa, to producing its proprietary Phytofare® extracts in-house, allowing the Company to guarantee the continuity of supply as well as quality control throughout the entire process. Targeted industries for the Company's products include cosmeceutical, wellness, anti-aging, pharmaceutical and animal husbandry.

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