Republic of South Africa Medical Marijuana Dispensaries Acquisitions LLC (RSAMMDA.LLC) Completes Acquisition of Protext Mobility, Inc. (TXTM)

RSAMMDA.LLC

JOHANNESBURG, South Africa, June 13, 2022 (GLOBE NEWSWIRE) — Republic of South Africa Medical Marijuana Dispensaries Acquisitions LLC (“RSAMMDA.LLC”) is pleased to announce that it has completed the acquisition of Protext Mobility, Inc ( OTC PINK: TXTM) (AKA Protext Pharma) in a share exchange whereby 100% of the share capital of RSAMMDA.LLC will be exchanged for preferred shares of Protext. RSAMMDA.LLC. is an acquisition-driven joint venture with two directors, Mr. Dylon Du Plooy and Dr. Ahmed Jamaloodeen (“Dr. J”) who represent the South African business entities of RSAMMD and Leeds Boerdery. RSAMMD is a South African pioneer in the research, cultivation, production and distribution of medical cannabis and cannabinoids. Leeds Boerdery, controlled by Dr J, owns the 5,000 hectare New Castle farm as well as federal cannabis and hemp licenses issued by the South African government. RSAMMD management took over the day-to-day operations of Protext, led by Mr. Du Plooy as CEO and Director, and Dr. Jamaloodeen as President and Chairman of the Board.

Mr. Dylon Du Plooy, CEO of Protext and Director of RSAMMD.LLC, said: “This transaction took a long time to prepare. Over the past two years, we have focused on building our operations in South Africa and globally, where we have built an extensive infrastructure and global cannabis/hemp business. During this time, we have invested heavily in building a major cannabis/hemp operation to facilitate full seed sales, R&D, global off-take agreements for the end product as well as all the infrastructure for extraction necessary to create what we believe to be the highest quality hemp and cannabis on the planet. In South Africa at the moment, we have just completed our half-year growth. RSAMMD in joint venture with Leeds Boerdery, grew hemp and cannabis crops last season on over 1000 hectares combined. All of this is done under federally issued permits and licenses to cultivate, import/export hemp and cannabis, as well as research permits to conduct testing of end products for human consumption and medicinal benefits. .

Dr. Jamaloodeen, Chairman and President of Protext, said, “We are delighted with this transaction and taking Protext to the next level. We believe there are many synergies to integrating Protext’s proprietary live plant extraction technology and processes into our existing infrastructure. We are considering adding other assets to Protext’s operations, including our current off-take agreements and sales, with the goal of improving trading in the future. As previously announced, Protext and RSAMMD worked together and conducted a series of live cannabis tests to prove that the Kettle system and extraction technologies did what they were supposed to do. We look forward to discussing this further as well as our future operational plans. »

“Over the next few days and weeks, we will share our short-term roadmap and the long-term plans we are developing for Protext, which should result in increased shareholder value. These plans include the adding other valuable assets to the business that complement the core business, and executing the commercialization of proprietary live plant extraction technology as well as the deployment of our crypto platform, with a TXTM token that we are excited to deploy very soon,” concluded Du Plooy.

CONTACT INFORMATION
For media inquiries or further information, please contact
Dylon Du Plooy at: [email protected]
Dr J at: [email protected]

About RSAM®
RSAMMD Acquisitions LLC is a company jointly owned by RSAMMD, a South African pioneer in the research, cultivation, production and distribution of medical cannabis and cannabinoids, and Dr. J, who operates the 5,000 hectare New Castle farm as well as than federally issued cannabis. and hemp licenses. Together, we partner with leading hospitals and universities around the world to advance the clinical benefits and applications of cannabinoids.

The founders of RSAMMD are a group of doctors and pharmacists and cannabis activists who have been at the forefront of medical cannabis legislation and the legalization of cannabis in South Africa, which took place in September 2018. We are committed to advancing technology and scientific research that leads to a better quality of life for patients around the world.
Please visit www.rsammd.co.za for more information.

About Protext (OTC PINK: TXTM)
Through previously disclosed acquisitions, Protext is engaged in the research, testing and commercialization of highly bioavailable botanicals, all-natural ingredients formulated for nutraceutical and pharmaceutical applications through the use of proprietary technology from extraction of live plants.

Safe Harbor Statement
This press release contains forward-looking statements based on current expectations or beliefs, as well as on a number of assumptions regarding future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions on which they are based are reasonable, we can give no assurance or guarantee that these expectations and assumptions will prove to be correct. Forward-looking statements are generally identifiable by the use of words such as “may”, “will”, “should”, “could”, “expect”, “anticipate”, “estimate”, “believe”, ” intends” or “project” or the negative of these words or other variations of these words or comparable terminology. The reader is cautioned not to place 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, federal government regulations, unfavorable state and local regulations, international governmental regulations, insufficient 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 contained in this press release are not strictly historical, including statements regarding revenue projections, business strategy, prospects, objectives, future milestones, plans, intentions, objectives , future financial conditions, events subject to shareholder or other approval, or otherwise, with respect to future events, these 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 the information contained in the forward-looking statements. This press release should not be considered a general solicitation.

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