Pivot Enters Into Standstill Agreement
Ryan Allway
December 27th, 2017
News
VANCOUVER, British Columbia, Dec. 27, 2017 (GLOBE NEWSWIRE) — via NetworkNewsWire — Pivot Pharmaceuticals Inc. (CSE:PVOT) (PVOTF) (“Pivot” or the “Company”) wishes to announce that it has entered into a forty-five (45) day standstill period with a TSX listed company in order to explore a business opportunity of mutual interest and benefit, that may result in a co-research and development program, a product launch and/or commercialization agreement, or some other form of potential partnership (“Potential Transaction”).
The standstill period will end on February 6, 2018. During this time Pivot will not, directly or indirectly, conduct or enter negotiations or engage in any other discussions or communications with any third party regarding a Potential Transaction, any sale of all or substantially all of the assets of Pivot, or any merger, amalgamation, plan of arrangement or other business combination involving Pivot.
Dr. Patrick Frankham, Pivot’s CEO, states that “the Pivot team has been working tirelessly to secure a best-in-class partner to monetize our patented technologies and to bring our impressive pipeline of products to market in preparation for the legalization of cannabis in Canada and areas of the US and EU. During the past few months we have garnered interest from established companies in the nutraceutical and cannabis industries. Pivot’s management is committed to exploring all potential avenues to consummate a transaction with the company that we have a standstill agreement with as they share our vision of developing, manufacturing and commercializing premium science-based cannabis products to serve the health needs of consumers. On behalf of the Board of Directors of Pivot, I would like thank our shareholders for their continued support and wish them a healthy and prosperous 2018.”
About Pivot Pharmaceuticals Inc.
Pivot Pharmaceuticals Inc. is an emerging biopharmaceutical company engaged in the development and commercialization of therapeutic pharmaceuticals and nutraceuticals using innovative drug delivery platform technologies. Pivot’s wholly-owned medical cannabis products division, Pivot Green Stream Health Solutions Inc. (“PGS” or “Pivot Green Stream”), conducts research, development and commercialization of cannabinoid-based nutraceuticals and pharmaceuticals. PGS has acquired worldwide rights to BiPhasix™ Transdermal Drug Delivery platform technology (topical), Solmic Solubilisation technology (oral) and Thrudermic Transdermal Nanotechnology (transdermal) for the delivery and commercialization of cannabinoid, cannabidiol (CBD), and tetrahydrocannabinol (THC)-based products. PGS’ initial product development candidates will include topical treatments for women’s sexual dysfunction (PGS-N005), as well as psoriasis (PGS-N007), and an oral product (PGS-N001) for cancer supportive care. For more information please visit www.PivotPharma.com
Cautionary Statement
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as anticipate, believe, estimate, expect, intend, and similar expressions, as they relate to Pivot or Pivot Green Stream, or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. As a result of the foregoing, actual results could differ materially from those contemplated by the forward-looking statements as a result of the foregoing factors and certain other factors, such as the failure to meet the conditions imposed by the regulators, the level of business and consumer spending, the amount of sales of Pivot’s products, the competitive environment within the industry, the ability of Pivot to continue to expand its operations, the level of costs incurred in connection with Pivot’s expansion efforts, economic conditions in the industry, and the financial strength of Pivot’s customers and suppliers. Pivot does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.
Company Contact:
Pivot Pharmaceuticals Inc.
Patrick Frankham, PhD, MBA
Chief Executive Officer
Tel: (514) 943-1899
Email: Info@PivotPharma.com
Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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