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Letter of Intent with USA-based Protext Pharma (TXTM)

By May 11, 2020 No Comments

Johannesburg, South Africa–(Newsfile Corp. – April 30, 2020) – Republic of South Africa Medical Marijuana Dispensaries Pty Ltd. (RSAMMD) is pleased to announce it has executed a letter of intent with USA-based Protext Pharma, Inc. (OTC Pink: TXTM), a biotech company engaged in the development of pharmaceutical botanical medicines that are formulated from highly-bioavailable plant extracts.

Under the terms of the agreement, the companies will form a joint venture partnership to (i) test Protext’s proprietary extraction technology using live cannabis and hemp plants, and (ii) commercialize the resultant cannabis and hemp-based extracts. Prior human clinical trials have shown Protext’s licensed extraction technology to be effective at significantly improving absorption rates and bioavailability, as well as delivering the full phytonutrient spectrum.

In exchange for covering all the costs associated with testing and commercialization, RSAMMD will receive an exclusive global license to the technology for hemp and cannabis extracts, excluding North America. Under the agreement, several live plant extraction tests will be conducted using water temperatures ranging from 55 degrees Celsius up to 95 degrees Celsius.

The various tests will use live cannabis flower and leaf, and industrial hemp flower and leaf, rendered into liquid emulsions using proprietary sonoluminescence extraction technology, then sent for validation by an approved third-party lab. The lab will prepare a full chemical profile and, importantly, test the cannabis extract for psychoactivity (THC).

The first phase of the agreement recently took place at a Government-licensed facility in New Castle, SA under the supervision of Dr. Ahmed Jamaloodeen, National Treasurer of the Cannabis Development Council of South Africa (CDCSA) and property owner of the 5000 Hectare Hemp farm in New Castle where the live plants were sourced, freshly cut and provided for by RSAMMD under the agreement. His wife, Dr. Regina Hurley was also on site. Dr. Hurley, is an American Board Certified Anesthesiologist, Fellowship American Pediatric Cardiac Anesthesiologist and a well known medical cannabis Activist and advocate for CBD. She is one of a handful of practitioners who advocate the use of medical marijuana for medical purposes in South Africa and is a registered physician with the American Medical Marijuana Physicians Association.

Dr. Jamaloodeen, commented, “It was an exciting day for the team of professionals that were assembled, as we had the extraction equipment transported to the farm where live plant extraction was conducted. The testing that was completed using Protext’s licensed technology and proprietary system for live plant extraction was successful with the Kettle system having processed live plant material into an emulsion. The team included both engineering and the technology inventor, Mr. Roger Duffield, who oversaw the entire process. After running live plant material through the system, we produced a rich nano-emulsion of phytocannabinoids, which have been sent out to two different third-party independent labs for chemical profiling.”

Dr. Hurley stated, “Assuming the extract has retained cannabinoids in their precursor acid form (THC-A), we believe this proprietary live plant extraction process and technology has global appeal providing potentially important medicinal benefits. This is an important time for deregulation and education. We believe that ongoing and future research will show the importance of both medical cannabis and CBD has and its positive impact on society and people’s well being.”

Dylon Du Plooy, Chief Executive Officer of RSAMMD, commented, “I’m thrilled to have been part of completing this important milestone. We understand the complexities of taking new, proprietary technologies to commercial development in the country of South Africa. Our joint venture partnership with Protext provides the missing component that Protext has been seeking for a long time in this country.”

“We can combine access to existing licensed farms with permits to grow and handle hemp and cannabis, as well as conduct testing, with our ability to take this technology into full scale commercial development. Our investigations intend to show that the proprietary extraction process should leave the acid form of CBD (CBDA) and THC (non-psychoactive THC-A) intact at certain temperatures, resulting in a non-psychoactive extract with full medicinal potential.”

“In retaining the complete pharmacology cannabis profile, the synergistic effect should be the availability of an affordable, highly bioavailable, non-psychoactive medicine, delivered with low oral dosage and with clinical claims. We believe we can potentially deliver a substantially improved bioavailable medical marijuana product delivered in a low oral dosage of up to 1/15 traditional dose, meaning patients could get the desired relief at a fraction of the cost per dose.”

“Being able to deliver the entire cannabinoid profile without psychotropic effects could be a game-changer for researchers and patients globally. We are happy to say this is a proudly South African initiative.”

CONTACT INFORMATION

dylon@rsammd.co.za

About The Republic of South Africa Medical Marijuana Dispensaries Pty LTD

RSAMMD is a South African pioneer in the research, cultivation, production and distribution of medical cannabis and cannabinoids. We partner with leading hospitals and universities to advance the clinical benefits and applications of cannabinoids. RSAMMD’s founders are a group of medical professionals and cannabis activists who have been at the forefront of medical cannabis legislation and South African cannabis legalization, which took place in September 2018. We are committed to the advancement of technology and scientific research that leads to an improved quality of life for patients around the world.

Please visit www.rsammd.co.za for further information

About Protext Pharma, Inc (OTC Pink: TXTM)

Protext Pharma operates two wholly owned subsidiaries: Plandai Biotechnology South Africa (Pty) Ltd. and Cannabis Biosciences, Inc. The Company is engaged in the research, clinical testing and commercialization of highly bioavailable botanical products-all-natural ingredients formulated for nutraceutical and pharmaceutical applications.

Please visit www.protextm.co for further information.

About The Cannabis Development Council of South Africa (CDCSA)

The CDCSA is an all-inclusive self regulating Cannabis Industry Association whose duly elected representatives will form part and associated with the National Hemp Foundation to help regulate and control the cannabis industry of South Africa.

Please visit www.cdcsa.co.za for further information.

Safe Harbor Statement

This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology.

The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks.

To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation

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