Toronto, Ontario--(Newsfile Corp. - August 30, 2021) - PharmaDrug Inc. (CSE: PHRX) (OTC Pink: LMLLF) ("PharmaDrug" or the "Company"), a specialty pharmaceutical company focused on the research, development and commercialization of controlled-substances and natural medicines such as psychedelics, cannabis and naturally-derived approved drugs, is pleased to announce that David Kideckel will be joining the board effective immediately.
David joins PharmaDrug after nearly 20 years of combined industry and capital markets experience, most recently serving as Managing Director, Senior Institutional Equity Research Analyst at ATB Capital Markets. David's industry experience spans several senior healthcare & biotechnology executive roles including at Johnson & Johnson Inc. and Alexion Pharmaceuticals (acquired by AstraZeneca). Within Capital Markets, David was at the forefront of the biotech industry and was the sole Bay Street analyst to cover British-based GW Pharmaceuticals (acquired by Jazz Pharmaceuticals), the world leader in cannabinoid-derived pharmaceuticals. David also covered other Canadian and US Life Sciences staples such as Knight Therapeutics, Profound Medical, Cardiol Therapeutics, and Willow Biosciences, where he was known for his thought leadership as well as his subsector expertise in FDA, EMA, and Health Canada regulations. David has a PhD in Neuroscience from the University of Toronto.
Daniel Cohen, Chairman and CEO of PharmaDrug, commented, "We are absolutely thrilled to add the expertise of a member of David's calibre to our Board of Directors. David's unique combination of experience in big pharma, biotech and investment banking ideally suits PharmaDrug as it increasingly shifts its focus to a biotech strategy. We look forward to David's guidance on all matters ranging from scientific to regulatory to capital markets."
Pursuant to the terms and conditions of the Company's stock option plan, the PharmaDrug Board of Directors has approved the grant of 750,000 stock options to David Kideckel. The options expire five years from the date of grant and are exercisable at the greater of the closing price of today August 30th or of the previous trading day August 27th, 2021. 250,000 of the options vest immediately and 500,000 of the options vest in one half increments after 6 months and 12 months.
About PharmaDrug Inc.
PharmaDrug is a specialty pharmaceutical company focused on the research, development and commercialization of controlled-substances and natural medicines such as psychedelics, cannabis and naturally-derived approved drugs. The Company owns 100% of Pharmadrug Production GmbH, a German medical cannabis distributor, with a Schedule I European Union narcotics license and German EuGMP certification allowing for the importation and distribution of medical cannabis to pharmacies in Germany and throughout the EU. The Company also owns 100% of Super Smart, a Dutch company building a modern adult use psychedelic retail business with an elevated and educational focus. PharmaDrug recently acquired Sairiyo Therapeutics, a biotech company that specializes in researching and reformulating established natural medicines with a goal of bringing them through regulatory and research driven clinical trials.
For further information, please contact:
Daniel Cohen, Chairman and CEO
Caution Regarding Forward-Looking Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "potential", "aim" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on PharmaDrug Inc. (the "Company") current belief or assumptions as to the outcome and timing of such future events. Forward-looking information is based on reasonable assumptions that have been made by the Company at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in Company's management's discussion and analysis for the period of March 31, 2021 ("MD&A"), dated May 31, 2021, which is available on the Company's profile at www.sedar.com.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.
The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.