Los Angeles, California, July 07, 2016 (GLOBE NEWSWIRE) -- Los Angeles, California July 7, 2016 – Vortex Brands Co. (OTC: VTXB) announced today that reached a preliminary agreement to acquire Sagan Labs and that Nicholas Busse will become its new CEO.
Gov. John Kasich signed House Bill 523 into law on June 8, 2016, making Ohio the 25th state to adopt medical marijuana laws. The legislation, passed by the Ohio General Assembly the previous week, will allow patients to use and purchase medical cannabis that will be cultivated and processed in-state. Under the proposed terms of the merger, the Company will focus on building out cultivation farm for medical marijuana on farm land in Ohio and assisting other Companies in the development and incubation of medical marijuana products for Ohio and other states such as Colorado, Oregon and California.
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual and interim reports.
Contacts: Vortex Brands Co. Investors@vortextennis.com
Source:Vortex Brands Co.