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Galexxy Sells Subsidiary for Return of 50 million Shares to Treasury

Written by Customer Service on . Posted in Public Companies.

CALIFORNIA, Newport Beach, July 19, 2022 (GLOBE NEWSWIRE) — Galexxy Holdings Inc., (OTC Pink: GXXY) is pleased to announce that it has sold its 100% owned subsidiary, Galexxy Corporation to RxMM Health Ltd of Australia.

As payment, RxMM Health Ltd has returned 50 million GXXY shares to Galexxy Holdings treasury, which reduces GXXY’s total issued and outstanding shares by 50 million shares.

Galexxy Corporation owns the patent pending Virtual Retail Marketing System™ (VRMS) technology and the GENUS™ range of proprietary CBD consumer products.

GXXY will retain a perpetual exclusive license to the VRMS technology and all commercial rights to the GENUS products, exclusively for North America.

Ross Lyndon-James stated, “The sale of Galexxy Corporation, excluding the North American rights to VRMS and GENUS, for a net reduction of 50 million of GXXY’s issued shares is a positive result for all stakeholders and is consistent with GXXY focusing on the development of its North American market opportunities.”

Headquartered in Newport Beach, California with manufacturing facilities in Murietta, California, Galexxy’s shares are publicly traded on the OTC Markets (OTC Pink: GXXY). Galexxy entered the rapidly developing markets for premium CBD consumer products through its acquisition of Galexxy Corporation in April 2021.

Galexxy Holdings Inc.
Ross Lyndon-James
E: ross@galexxy.com
M: (949) 456 3972

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This press release contains “forward-looking information” and “forward-looking statements” (collectively, “statements”). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release.                  

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