BOCA RATON, FL--(Marketwired - Mar 27, 2017) - Protext Mobility, Inc. (OTC PINK: TXTM) ("Protext" or "the Company"), a biotech company engaged in the development of pharmaceutical applications for the highly bioavailable Phytofare® catechin complex, today announced its acquisition of Cannabis Biosciences Inc. from Plandaí Biotechnology Inc. Under the terms of the transaction, Protext acquired 100% of the capital stock of Cannabis Biosciences in exchange for 50 million shares of its common stock. Plandaí has indicated that the shares acquired from Protext will be distributed to Plandaí shareholders as a stock dividend. Protext will now operate its two wholly owned subsidiaries as independent operating businesses. The new business unit, Cannabis Biosciences, will focus on developing cannabis extracts under legal government licenses and permits which the Company is currently pursuing. Plandaí Biotechnology South Africa, the other business unit, is engaged in the research and clinical testing of "bioceutical" products -- all natural ingredients formulated for pharmaceutical applications and processed under pharma-grade conditions. The Company has the exclusive worldwide license to develop pharmaceutical applications and products using the Phytofare® catechin complex produced from green tea grown on the Senteeko estate.
Cannabis Biosciences was formed and incorporated by Plandaí Biotechnology in 2013 to legally develop non-psychoactive medicines from live cannabis plant. Using Plandaí's proprietary processing and extraction technology, the company intends to commence investigations in conjunction with independent researchers to develop and validate a full-profile cannabis extract, one that contains both CBD and the precursor acid form of THC (THC-A and THC-B) found in live cannabis plant. The hypothesis is that the resultant extract will have similar, superior bioavailability of other Phytofare® extracts with the added benefit of being non-psychoactive. Several third-party investigations have shown that the precursor acid forms THC-A and THC-B in live cannabis leaf are inherently non-psychoactive and that the process of drying and heating the leaf metabolizes these acid forms into THC, a chemical that triggers the euphoria sought after by recreational users. The Company's investigations will be designed to show that the Cannabis Biosciences extraction process, which will use live leaf and low temperatures to extract the phyto-chemicals, should leave the acid forms of THC intact, resulting in a non-psychoactive extract with full medicinal potential.
Roger Baylis-Duffield, Chief Executive Officer of Protext, commented, "Where most pharma companies have chosen to focus on the non-psychoactive CBD chemical, we believe that this strategy limits the potential medical benefits. Recent third party studies have demonstrated the synergistic value of retaining the full chemical profile of cannabis. Our objective is to validate Cannabis Biosciences cannabis extracts to be not only full profile but also non-psychoactive, which will give researchers all of the benefits of cannabis without the unwanted side effects. The acquisition of Cannabis Biosciences by Protext properly aligns our pharmaceutical research under one roof, allowing us to further our cannabis studies as we strive to create a cannabis extract that can increase the well-being and potentially improve the lives of so many people."
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About Protext Mobility, Inc.
Protext Mobility, operates two wholly owned subsidiaries; Plandaí Biotechnology South Africa (SA) and Cannabis Biosciences. The Company is engaged in the research and clinical testing of "bioceutical" products -- all natural ingredients formulated for pharmaceutical applications and processed under pharma-grade conditions. Through its wholly owned subsidiary Plandaí Biotechnology SA, the Company has the exclusive worldwide license to develop pharmaceutical applications and products using the Phytofare® catechin complex, which was developed by Plandaí Biotechnology, Inc. Phytofare® is a highly bioavailable extract produced from live green tea leaves. Our initial product, Phytofare® Catechin Complex, has been clinically shown to have 10 times greater bioavailability over generic catechin extracts. What this means is that Phytofare® can deliver a therapeutic level of catechins, which function as powerful antioxidants, to the system where they remain active for over 24 hours. Plandaí grows green tea on its 7,500 acre Senteeko estate in South Africa, where it produces the proprietary Phytofare® catechin extract in-house, allowing the Company a continuity of supply as well as quality control throughout the entire process. Targeted applications for the Company's products include arthritis, inflammation, anti-viral, and diabetes-related metabolic syndromes.
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About Cannabis Biosciences
The Company is actively pursuing government licenses and permits that will allow it to use its proprietary processing and extraction technology to commence investigations and produce a full-profile cannabis extract, one that contains both CBD and the precursor acid form of THC (THC-A and THC-B) found in live cannabis plant. The Company's investigations will be designed to show that the Cannabis Biosciences extraction process, which will use live leaf and low temperatures to extract the phyto-chemicals, should leave the acid forms of THC intact, resulting in a non-psychoactive extract with full medicinal potential and having the heightened bioavailability of other Phytofare® extracts.
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