SANDUSKY, Ohio, Feb. 11, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- PAO Group, Inc. (OTC: PAOG), a holdings company dedicated to alternative patient care treatments including the proper
use of medical cannabis, and through its subsidiaries who are currently growing medical cannabis in the state of Michigan and
pursuing additional MMFLA licensing through LARA for the cultivation, processing, and transportation of medical and recreational
cannabis, is pleased to announce that Arthur Hall has officially stepped down and has fully passed the PAOG leadership torch to CEO
Karl Riedel and Riedel's management team.
Former PAOG CEO Art Hall commented: "It has been a joy and privilege for me to serve as CEO and I'm thrilled to leave the
Company in the more-than-capable hands of Karl Riedel and his management team. Though I am moving on to be wholly committed to
Rising Biosciences, Inc (OTC: RBII), I believe there will be synergies between the two companies that make strategic sense and
add genuine value for shareholders now and later."
Arthur Hall officially stepped down as PAOG CEO on February 9, 2019. As a gesture of goodwill to the incoming management and
former shareholders and also to affirm his belief in the potential for future synergies with Rising Biosciences, Mr. Hall's last
corporate action before resigning was to reduce PAOG's debt by another $86,243.00 through the asset purchase of PAOG's clinics.
Furthermore, Mr. Hall ensured that PAOG received 417,852 Preferred Class A stock of RBII, along with the exclusive licensing rights
to manufacture RBII's complete line of cannabis products (including Cannophen) in the state of Michigan.
PAOG CEO Karl Riedel commented: "This transition has been incredibly smooth and Art Hall has repeatedly demonstrated his
commitment to the incoming management team, the shareholders, and my new direction for the Company. Over the past 45 days through
working with Art we've been able to eliminate almost $1.3M worth of debt including the recent $86K reduction, as well as gain a
significant piece of ownership in RBII. I truly hope that investors are getting the big picture that I am building something
of real value for PAOG that will stand the test of time."
PAOG CEO Karl Riedel concluded: "I want to reiterate that we have our sights set on a long term goal of expansion into other
markets in the cannabis industry, and our aim is become a major player and potential acquisition target, or begin acquisitions of
our own. The cannabis industry is growing at a rapid rate, and the political climate in the United State is ripe for the current
‘green rush.’ According to the CEO of Altria Group Inc. (MO)*, Howard Willard recently stated that he anticipates the global
cannabis market could reach $40 billion within 10 years with no new legalization laws, but up to $250 billion if marijuana becomes
legal worldwide. Altria has been investing in many different companies in and around the sector, including a $1.8 billion
investment for 45% stake in Cronos Group Inc., a Canadian marijuana company, as well as a $12.8 billion investment for 35% stake in
Juul Labs Inc., the world’s leading e-cigarette and vape manufacturer. Altria's CEO has made it very clear that they are not
planning to stop at these recent investments. When I see statements like this from the industry’s biggest players, I know that PAOG
is in the right sector at the right time."
*https://www.morningstar.com/news/dow-jones/TDJNDN_201902011948/marlboros-maker-forecasts-more-declines-in-cigarette-sales-wsj.print.html
ABOUT PAOG: PAO Group, Inc. (OTC: PAOG) is a publicly traded holdings company in America dedicated to alternative patient care
treatments, including the proper use of medical cannabis. Through its subsidiaries and investment holdings, the company focuses on
the growing, processing, and transportation of premium medical cannabis products for the treatment of chronic and terminal
patients. PAO Group’s holdings include RSB Management, Inc. – a team of highly experienced business management professionals
focused on expanding the medical cannabis market in Michigan and other medically legal States in the USA. RSB manages a
Michigan-based limited-liability corporation, High End Products LLC, which is currently in the process of applying for medical
marihuana facility licensing in the state of Michigan through the Department of Licensing And Regulatory Affairs (LARA).
“Our mission is to combat the opioid epidemic in America through the responsible use of medical cannabis.”™
The company is headquartered in Sandusky, OH, with offices in Detroit, MI and Miami, FL.
Visit our website at: www.PAO.Group | Contact Us: info@pao.group or 1-888-2-PAOGROUP (1-888-272-6472).
"Like" and "Share" PAO Group on Facebook/paogroupinc and Follow us on Twitter @paogroup
Forward-Looking Statements: Certain statements in this news release may contain forward-looking information within the meaning
of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe
harbor created by those rules. All statements, other than statements of fact, included in this release, including, without
limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve
risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent
the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or
update any forward-looking statements to reflect events or circumstances after the date of this release.
CONTACT INFORMATION
Contact Us:
info@pao.group
1-888-2-PAOGROUP (1-888-272-6472)
