PAO Group Proudly Announces New MJ Entity Acquisition
SANDUSKY, Ohio, Jan. 10, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- PAO Group, Inc. (OTC: PAOG), a physicians practice management company focused on the proper use of cannabis for treatment of chronic pain, opioid addictions, and terminal patients, is pleased to announce that it has completed the process of transferring all existing corporate assets to Rising Biosciences, Inc. (OTC: RBII).
Simultaneous with the transfer of all old assets to Rising Biosciences, PAO Group has acquired RSB Management Inc., a business management company in the cannabis sector. The definitive acquisition agreement between PAO Group and RSB Management has been executed by all necessary parties and the Company is proud to report that the acquisition was closed on December 31st, 2018.
PAOG is now in the process of posting its financial statements with OTC Markets in order to achieve current status. Upon completion of this process interim CEO Arthur Hall will be stepping down and new management changes will take effect.
Outgoing PAOG Interim CEO Arthur Hall stated: "This new acquisition will become the new PAOG. The outgoing executive team is fulfilling our stated commitment to shareholders by adding an entity of immense value that is in line with PAOG's historic philosophy, mission, and industry sector. I am very proud to hand the baton to the experienced and successful leadership of RSB Management and believe that there will be future synergies between the incoming company and Rising Biosciences, Inc. It is now my pleasure to introduce our valued investors to the superstar team that is RSB Management."
Incoming PAOG CEO Karl Riedel was employed most recently as Executive Vice President of Marketing for VMR Products LLC, the largest online vendor of electronic cigarettes and vapor devices. He was with the company for 8+ years and helped carry VMR through a recent acquisition by JUUL Labs, Inc. for $75M (https://vaping360.com/vape-news/72683/why-did-juul-buy-v2-and-vmr-products/). As Executive VP, he was responsible for overseeing online marketing initiatives, E-Commerce sales & promotions, Merchandising both domestically and internationally, Press and Media relations, Search Engine Optimization (SEO), Social Media influencers and engagement, and Affiliate Marketing initiatives. He built the largest affiliate program in the vapor industry - the V2 Profit Affiliate Network - with 9000+ affiliates worldwide generating traffic and sales to VMR's e-commerce websites.
With 14+ years' experience across a diverse array of technical fields including Content Management, IT and software implementation, and Affiliate Marketing, Karl leveraged a diverse, multi-platform marketing strategy across VMR's brands. He has held a variety of positions in the new media and technology industries; most recently management positions in two of the portfolio companies of Verleur Capital Ventures, LLC. Karl possesses a Bachelors of Arts from Miami University (Oxford, OH) where he graduated with Honors in Psychology, and he attended law school at University of Miami (FL).
Karl has been interviewed by magazines like Forbes and the MJ Business Journal. The articles below represent an assortment of places where Karl has been quoted while serving as Executive VP for VMR:
Incoming CFO Tom Sawyer boasts not only an Accounting Degree from Henry Ford College, but he is also a Master Grower who has been a member of the Michigan medical marihuana* program since its inception (circa 2008). With 10+ years in the cannabis industry, he is well-versed in standard business practices within the state of Michigan. Tom previously worked at an accounting firm under a financial advisor with a $27M portfolio, and he managed payroll and bookkeeping for approximately 30 companies and 100+ employees. Tom's diverse and unique mix of skills give PAO Group an added advantage by having an accounting professional with real world cannabis experience to manage the daily operations of cultivation and processing. His background in both financial and managerial accounting ensures shareholders are provided with up-to-date and accurate business metrics data at all times.
Incoming COO Patrick Blasko is a proven Entrepreneur versed in both business management and start-up experience, with 12+ years' experience in B2C retail. Patrick's vast knowledge pertaining to the wholesale and retail side of the industry allowed him to grow and expand his current business to multiple brick-and-mortar locations. Understanding profit and growth challenges along with inventory management skills, Patrick will be the key component to establishing and growing vendor relations. He has forged solid business relationships with distributors, shops and dispensaries which gives PAOG a serious advantage with sourced product, particularly during periods of rapid growth or business transformation when execution risks are high.
Incoming PAOG CEO Karl Riedel enthusiastically commented: "After my experience with VMR, I decided that I wanted to do something bigger. I am passionate about the cannabis industry and am confident that we can build a powerhouse brand in the Michigan market through a coordinated effort of delivering high quality products, combined with effective branding and targeted marketing. We have assembled a team of dedicated, hard-working, and skilled professionals with a unique array of talents to drive these initiatives. With the recent legalization of recreational marijuana, and transition to licensed-only grow operations and processing facilities within the state, the market is prime for entry. We already have the infrastructure and relationships in place to be strategically positioned in the Michigan cannabis market. My goal for PAOG is to be the dominant player in Michigan regarding the cultivation, processing, and transportation of medical and recreational marijuana. We are hitting the ground running in 2019. I'm very excited to begin telling investors about our plans to achieve these objectives. My long term vision for PAOG is to continue to drive this business growth, as well as focus on expansion to other markets."
*NOTE: marihuana is specifically spelled this way in Michigan Law.
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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.