BOCA RATON, FL--(NewMediaWire - Jan 10, 2017) - Plandaí
Biotechnology, Inc. (OTC
PINK: PLPL) ("Plandaí" or "the Company"), producer of the
highly bioavailable Phytofare® catechin complex, today announced
that it has completed a share exchange between Plandaí
Biotechnology South Africa (PTY) LTD "Plandaí SA," and Protext
Mobility, Inc. (OTC
PINK: TXTM) "Protext", a Delaware company. Under the
terms of the Exchange Agreement, Plandaí became the majority owner
of Protext with Plandaí SA becoming the successor issuer to Protect
for reporting and accounting purposes. It is anticipated that
the prior operations and assets of Protext will be liquidated in
the coming weeks, leaving Plandaí SA as the surviving operating
entity.
Plandaí SA was established in 2014 by Plandaí Biotechnology,
Inc. to provide a platform for expanding the research of Plandaí's
proprietary Phytofare® extracts into pharmaceutical application and
then obtaining product claims. Phytofare® has been clinically
proven in human studies to provide ten times greater
bioavailability, which is the ability of the body to absorb the
nutrients, over generic plant extracts. The first product brought
to market, Phytofare® catechin complex, is derived from green tea
and contains all eight catechins in a highly absorbable
biocompatible structure. Where the parent company, Plandaí
Biotechnology, focuses on selling Phytofare® as an ingredient to
manufacturers in the nutraceutical industry, Plandaí SA will target
the pharmaceutical market with a finished product.
Plandaí SA has the exclusive license and rights to develop,
manufacture, and sell all current and future Phytofare® extracts
for the pharmaceutical market worldwide. The first targeted product
will focus on treating diabetes by regulating blood sugar levels
with an expectation of being market ready by the latter half of
2017.
Roger Baylis-Duffield, Chief Executive Officer of Plandaí,
commented, "This strategic moves allows us to separate the research
component of our business into a separate, self-funding entity,
freeing up Plandaí to focus on Phytofare® manufacture and
sales. Plandaí SA will operate with distinct management
concentrating on pharmaceutical applications and obtaining drug and
structure-function claims. Where Plandaí produces and sells an
ingredient to the nutraceutical industry, Plandaí SA will produce a
finished product targeting a specific application, such as managing
glucose levels in diabetics."
About Plandaí Biotechnology, Inc.
Plandaí Biotechnology, Inc (OTC
PINK: PLPL). and its subsidiaries develop highly
bioavailable extracts. It controls every aspect of the process,
from growing the raw materials on its farms in South Africa, to
producing its proprietary Phytofare® extracts in-house, allowing
the Company to guarantee the continuity of supply as well as
quality control throughout the entire process. Targeted industries
for the Company's products include cosmeceutical, wellness,
anti-aging, pharmaceutical and animal husbandry.
For more information, please visit http://www.plandaibiotech.com.
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. Readers are advised to review
our filings with the Securities and Exchange Commission that can be
accessed over the Internet at the SEC's website located
at http://www.sec.gov.
