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Agtech Global International Inc. (OTC PINK: AGGL) has announced a Letter of Intent to establish a Joint Venture with City Farm Industries Inc. (CFI) for the large-scale cultivation of Hemp CBD oils and isolates. This venture aims to secure a reliable supply of raw materials for Agtech’s CBD product range. AGGL plans to invest up to $10 million to enhance CFI's cultivation operations on a 1,600-acre property. The initial plan includes utilizing 300 acres for greenhouse cultivation of smokable CBD flower and expanding to 1,300 acres for Hemp biomass processing.
Agtech Global International Inc. (OTC Pink: AGGL) announced a strategic reduction of its common shares from 185,000,000 to 135,000,000, equating to a 27% enhancement in shareholder value. This reduction involves converting 50,000,000 common shares into convertible preferred shares, signaling management's confidence in future growth. CEO Ross Lyndon-James highlighted the CBD market's projected 500% growth and the potential of Galexxy's Virtual Retail Marketing System (VRMS) to leverage this opportunity. The company has also filed a provisional patent to protect its VRMS technology.
Agtech Global International Inc. (OTC Pink: AGGL) plans to change its corporate name to Galexxy Holdings Inc. following the acquisition of Galexxy Corporation. This name change aligns with AGGL's strategy to transition into a "Seed to Sale" online consumer products business, focusing on establishing Galexxy as a notable brand in the Hemp CBD sector. Galexxy, a wholly-owned subsidiary, specializes in high-quality CBD products and utilizes its patented Virtual Retail Marketing System™ to enhance market share effectively.