Pyramidion Technology Group, Inc. (OTC: 'PYTG') Enters Into a Letter of Intent to Acquire NxGen Brands, LLC
WESTON, Florida, August 28, 2018 /PRNewswire/ --
Pyramidion Technology Group, Inc (or the "Company") (OTC: PYTG), today announced the execution of a binding letter of intent to acquire NxGen Brands, LLC its web-portal http://www.LeafyWell.com of Denver, Colorado, one of the area's most well-known and successful CBD Marketing Groups ("NxGen"). Pursuant to the letter of Intent, PYTG will be acquiring NxGen operations, brands, and marketplace.
NxGen Brands, LLC; proudly boasts the best strains, products, and services available throughout the state of Colorado, from plant to edibles, vapes and more. "NxGen is a leader in the Alternative Medicine and Natural Nutraceutical Products offering proprietary brands such as those available through http://www.LeafyWell.com.
Cannabis is considered to be the largest cash crop in the United States, enjoying a growth rate of 77% over the last few years and continued future estimated growth rate to 700% by 2020 The Cannabis industry, present and future, has been said to be potentially more lucrative than corn, cotton, and wheat. In fact, according to UN data, the cannabis industry is around an estimated $142 billion. To put that in perspective, the global coffee market - one of the most valuable commodities on the planet - is valued at around $80 billion per year.
The bottom line is that Cannabis is now a viable industry that's making investors an absolute fortune.
The letter of intent from PYTG to acquire NxGen operations is just a Binding Contract and the proposed acquisition is subject only to finalize the execution of a definitive purchase agreement. In addition, the proposed acquisition would be subject to regulatory approvals and is expected to close on or before September 30th, 2018.
About Pyramidion Technology Group, Inc
Pyramidion Technology Group, Inc. ("PYTG" or the "Company") is best described as a business incubator. The purpose of our business model is to leverage equity, to acquire, merge and/or joint venture with early stage companies in emerging sectors, to facilitate growth and cash flow utilizing a diverse distribution method.
Our intention is to develop and acquire fast growing companies in up-trending industries and positioning technology for economic growth. This platform will combine natural relationships, marketing synergies and distribution methods that enable combined companies to provide a wide variety of unique and complete solutions, services and necessities to consumers. We believe our overall business model could effectively create a company of unlimited opportunities for our growing shareholder base.
For more information on PYTG, please visit the Company's website at https://www.pytgcorp.com/.
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This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For a discussion of these risks and uncertainties, please see our filings with the OTC Markets Group Inc. Our public filings with the OTC Markets Group Inc are available from commercial document retrieval services and at the website maintained by the OTC Markets at https://www.otcmarkets.com/stock/PYTG/filings.
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