Company In Process Of Negotiating An Acquisition Of A Company That Markets Cannabidiol (CBD) Based Products
WESTON, Florida, August 2, 2018 /PRNewswire/ — Pyramidion Technology Group, Inc. (“PYTG”, or the “Company”) (OTC PINK: PYTG), today announced that it plans to enter the CBD based products market and is looking to acquire a company that markets premium quality independently certified all-natural wellness products, as part of its plan to become a global cannabis industry leader dedicated to the research, development, and the multi-national wholesale and retail distribution of premium proprietary products, “The CBD or cannabidiol market could grow 700% by 2020 as more people turn to these products for health improvements.”https://www.facebook.com/forbes/posts/10154841517757509
FORBES has said that the CBD market could grow to $2.1 to $3 Billion by 2020. The article also went on to describe CBD based products as: “Cannabidiol (CBD) is the part of the cannabis plant that doesn’t get you “high” like the THC side of the plant. It is typically used for health reasons instead of for recreational purposes.
The Hemp Business Journal estimated that the CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources. That’s a 700% increase from 2016. In 2015, the market for consumer sales of hemp-derived CBD products was $90 million, plus another $112 million in marijuana-derived CBD products which were sold through dispensaries – bringing a total CBD market to $202 million last year.
Carlos Hurtado, CEO and President of the Company, said, “We want to be up front about the wave in this rapidly growing Cannabidiol (CBD) market arena and we believe that’s just what this potential acquisition does for the Company and our loyal shareholders.”
Mr. Hurtado continued: “Our target company, sources directly from third party manufacturers, and already has a significant customer/reseller base buying CBD products.
The Company believes that the revenues to be generated by this new acquisition will have a significant positive impact to the Company’s bottom line this fiscal year.”
About Pyramidion Technology Group, Inc.
Pyramidion Technology Group, Inc. (“PYTG” or the “Company”) is best described as a business incubator. The purpose of our business model is to leverage equity, to acquire, merge and or joint venture with early stage companies in emerging sectors, to facilitate growth and cash flow utilizing a diverse distribution methods.
Our intention is to develop and acquire fast growing companies in up-trending industries and positioning technology for economic growth. This platform will combine natural relationships, marketing synergies and distribution methods that enable combined companies to provide a wide variety of unique and complete solutions, services and necessities to consumers. We believe our overall business model could effectively create a company of unlimited opportunities for our growing shareholder base.
For more information on PYTG, please visit the Company’s website at https://www.pytgcorp.com.com/.
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SOURCE Pyramidion Technology Group, Inc