MINNEAPOLIS, May 14, 2018 (GLOBE NEWSWIRE) — Avalon Oil and Gas, Inc. (Avalon) (OTCQB:AOGN) today announced a corporate name change to ‘Groove Botanicals, Inc.’. The Company’s new ticker symbol is GRVE. The Market Effective Date of these changes is Monday, May 14th, 2018. These changes were made to reflect Avalon’s new business operations as a consumer health products company dedicated to improving health and well-being.
Kent Rodriguez, CEO of Avalon Oil and Gas, Inc., commented: “We are very pleased to announce the corporate name change to Groove Botanicals, Inc., and represents the Company’s new corporate direction as a business dedicated to developing innovative consumer products that optimize human health. Groove’s products contain premium hemp extracts and feature a broad range of cannabinoids (CBD). The Company plans on creating a portfolio of assets via royalty agreements, equity investments, licensing agreements and developing our own proprietary innovative CB3-based skin care products. We look forward to announcing further developments in the coming months as we expand and develop these innovative new business and product lines,” concluded Mr. Rodriguez.
This press release contains statements, which may constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Avalon Oil & Gas, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
FOR FURTHER INFORMATION, please visit the company’s website at avalonoilinc.com or contact:
Avalon Oil & Gas, Inc.
Kent Rodriguez, CEO