Welcome to our dedicated page for Galexxy Holdings news (Ticker: GXXY), a resource for investors and traders seeking the latest updates and insights on Galexxy Holdings stock.
Galexxy Holdings Inc. reports company developments tied to its shift toward health and wellness products, including functional mushroom, adaptogen and nootropic formulations. News about GXXY centers on Adaptin, direct-to-consumer and direct-sales channels, ownership of mushroom-based product intellectual property, marketing partnerships, and customer acquisition efforts in the wellness market.
Company updates also cover governance and management changes, brand and product agreements, sales-technology initiatives, and the historical role of business units such as Wellbeing Farms and VendGenie as Galexxy redirected resources away from CBD and hemp activities.
Galexxy Holdings Inc. (OTC: GXXY) has completed the acquisition of WellBeing Farms LLC, a producer of CBD-Functional Mushroom health supplements. GXXY will issue 30 million restricted shares to gain 100% membership interests in WellBeing. The global functional mushroom market is valued at $24.97 billion in 2021, with a projected CAGR of 9.5%. WellBeing's innovative marketing involves outdoor billboards and smart vending kiosks, with plans for nationwide expansion targeting health clubs. The collaboration aims to meet the rising demand for convenient access to health supplements.
Galexxy Holdings Inc. (GXXY) has signed a Memorandum of Understanding to acquire Wellbeing Farms LLC (WBF) in August 2022. The deal entails issuing 30 million restricted shares, representing approximately 16.5% of GXXY's outstanding stock. This strategic acquisition aims to enhance Galexxy's Techno-Health business by integrating WBF’s proprietary CBD-Mushroom products and innovative marketing strategies, including automated Smart e-kiosks. GXXY’s CEO stated that this acquisition will significantly broaden product offerings and improve market engagement.
Galexxy Holdings (OTC Pink: GXXY) announced the sale of its subsidiary, Galexxy Corporation, to RxMM Health Ltd. This transaction resulted in a net reduction of 50 million shares of GXXY, as RxMM returned the shares to Galexxy's treasury. GXXY retains exclusive rights to the VRMS technology and GENUS products for North America. CEO Ross Lyndon-James described this sale as beneficial for stakeholders, aligning with GXXY's strategy to focus on North American market opportunities.
Agtech Global International Inc. has officially changed its name to Galexxy Holdings Inc. as of March 29, 2022, with the stock symbol now being GXXY. This rebranding aligns with the company's strategy to enhance its presence in the lucrative CBD market. Galexxy Corp., a wholly owned subsidiary, specializes in high-quality CBD products and will leverage its innovative Virtual Retail Marketing System™ (VRMS) to accelerate market penetration. The company has also filed a provisional patent for the VRMS technology to protect its unique marketing approach.