PreveCeutical Medical Inc. (CSE:PREV, OTCQB:PRVCF, FSE:18H) (the “Company” or “PreveCeutical”), announces that it has obtained a default judgement against each of Essos Corporate Services Inc. (“Essos”) and Detona Capital Corp. (“Detona”) in connection with a Supreme Court of British Columbia action (the “Action”). The Action was brought by PreveCeutical in December 2018, against a group of defendants (the “Defendants”) for fraudulent misrepresentation, breach of contract, conspiracy, unjust enrichment and breach of duty of honest performance in connection with services that the Defendants failed to provide to PreveCeutical, and various consulting agreements and subscription agreements entered into between PreveCeutical and certain of the Defendants (see news release dated January 7, 2019).

“The default judgement shows due process and that proceedings are moving forward. We have confidence in the judicial system and thank our shareholders for their continued patience while we see this through,” said PreveCeutical’s Chairman and CEO, Stephen Van Deventer.


A notice of civil claim was filed on December 17, 2018 by the Company, as plaintiff, in the Action against the Defendants, consisting of Aly Babu Mawji, Justin Liu, BridgeMark Financial Corp., Rockshore Advisors Ltd. (formerly known as, Cam Paddock Enterprises Inc.), Detona Capital Corp., Escher Invest SA, Essos Corporate Services Inc., Jarman Capital Inc., JCN Capital Corp., Kendl Capital Limited, Lukor Capital, Northwest Marketing and Management Inc., Sway Capital Corp. and Tryton Financial Corp.

The amount of damages and costs to be awarded to the Company and against Essos and Detona remain to be assessed by the court. The Company is continuing to pursue its claims against the other Defendants in the Action.

About PreveCeutical

PreveCeutical is a health sciences company that develops innovative options for preventive and curative therapies utilizing organic and nature identical products.

PreveCeutical aims to be a leader in preventive health sciences and currently has five research and development programs, including: dual gene therapy for curative and prevention therapies for type 2 diabetes and obesity; a Sol-gel drug delivery program; Nature Identical™ peptides for treatment of various ailments; non-addictive analgesic peptides as a replacement to the highly addictive analgesics such as morphine, fentanyl and oxycodone; and a therapeutic product for treating athletes who suffer from concussions (mild traumatic brain injury).

PreveCeutical sells CELLB9®, an Immune System Booster. CELLB9® is an oral solution containing polarized and potentiated essential minerals extracted from a novel peptide obtained from Caribbean Blue Scorpion venom. This product is available on PreveCeutical’s website.

For more information about PreveCeutical, please visit www.PreveCeutical.com, follow us on Twitter: http://twitter.com/PreveCeuticals and Facebook: www.facebook.com/PreveCeutical.

For further information, please contact:

PREVECEUTICAL MEDICAL INC.
Deanna Kress
Director of Corporate Communications & Investor Relations
+1-778-999-6063
deanna@PreveCeutical.com

Forward-Looking Statements:

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, the Company’s anticipated business plans, the ongoing litigation against the other Defendants and the court’s assessment of the amount of damages and costs to be awarded to the Company and against Essos and Detona. Often, but not always, forward-looking statements can be identified by words such as “will”, “pro forma”, “plans”, “expects”, “may”, “should”, “budget”, “schedules”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward looking statements are based on certain assumptions regarding PreveCeutical, including that the Action will result in a judgement in favour of the Company against the other Defendants and that the Company will be able to obtain the relief sought by it in the Action. Actual results could differ from those projected in any forward-looking statements due to numerous factors including risks and uncertainties relating to the inability of the Company, to, among other things, obtain any required governmental, regulatory or stock exchange approvals, permits, consents or authorizations required, including Canadian Securities Exchange acceptance of any planned future activities, complete its research programs as planned, obtain the financing required to carry out its planned future activities and risks and uncertainties relating to the Action. Other factors such as general economic, market or business conditions or changes in laws, regulations and policies affecting the healthcare, cannabis, biotechnology or pharmaceutical industries, may also adversely affect the future results or performance of the Company. These forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements. Although the Company believes that the statements, beliefs, plans, expectations, and intentions contained in this news release are reasonable, there can be no assurance that those statements, beliefs, plans, expectations, or intentions will prove to be accurate. Readers should consider all of the information set forth herein and should also refer to other periodic reports provided by the Company from time-to-time. These reports and the Company’s filings are available at www.sedar.com.

Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.

Click here to connect with PreveCeutical Medical Inc. (CSE:PREV, OTC:PRVCF, FSE:18H)  for an Investor Presentation. 

Source: www.newsfilecorp.com

In the evolving rush of mergers and acquisitions (M&A) in the Canadian cannabis market, Canopy Growth (NASDAQ:CGC,TSX:WEED) announced it will acquire The Supreme Cannabis Company (TSX:FIRE,OTCQX:SPRWF) in a deal worth approximately C$435 million.

Meanwhile, a cannabis operator in the US confirmed this week that it will receive a financial boost from a partner to solidify its position in the burgeoning Pennsylvania state market.

Keep reading... Show less

The Board of Directors of Aphria Unanimously Recommends Shareholders Vote “For” the Arrangement

Aphria to Host Special Meeting of Shareholders on Wednesday, April 14, 2021 to Approve Proposed Aphria-Tilray Business Combination

Keep reading... Show less

Love Hemp Group PLC (AQSE: LIFE) (OTCQB: WRHLF), one of the UK’s leading CBD and Hemp product suppliers, announces that as part of the equity fundraise announced yesterday, Antony Calamita and Andrew Male, Directors of the Company, subscribed for 285,714 Ordinary Shares and 1,428,571 Ordinary Shares respectively. The subscriptions are at a price of 3.5 pence per ordinary share for a total of £60,000. Following these subscriptions, Antony Calamita is now interested in 54,385,714 Ordinary Shares, representing 8.61% of the Company’s share capital as increased by the fundraising, and Andrew Male is now interested in 6,138,196 Ordinary Shares, representing 0.97% of the Company’s issued share capital as increased by the fundraising

Further, the timetable for receipt of applications under the Broker Option, which was also announced yesterday, has been extended until 5:00 pm 9 April 2021 to capture additional interest which was unable to be completed yesterday.

Keep reading... Show less

Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, would like to provide the following dial-in information for the Company’s upcoming Annual and Special Meeting (the “Meeting”) scheduled to be held at 11:00 a.m. Eastern Daylight Time on April 12, 2021. Shareholders and proxyholders may access the Meeting via teleconference by dialing 647-723-3984 or 1-866-365-4406 from Canada or the United States, then entering participation code “8487744” followed by the pound (“#”) sign.

In consideration of the COVID-19 pandemic and the recent restrictions imposed by the Ontario Provincial Government, shareholders and proxyholders will only be able to attend the Meeting via teleconference and will not be permitted to attend the Meeting in person at the address provided on the Notice of Annual and Special Meeting of Shareholders.

Keep reading... Show less

Gage Growth Corp. (“Gage” or the “Company”) (CSE:GAGE), a leading high-quality craft cannabis brand and operator in Michigan, announced today that it has signed an agreement with Blue River™ Extracts & Terpenes (“Blue River™”) to bring the brand’s award-winning solventless technology and other trademark branded products to the state’s medical patients and cannabis consumers. The Company will have exclusive rights to Blue River™’s premium product offerings in Michigan.

Keep reading... Show less