RAMM Pharma Corp. Announces Postponement of Filing of Interim Financial Statements
March 30 2020 - 9:36AM
RAMM Pharma Corp. (including its wholly owned subsidiaries, the
“
Company” or "
RAMM") (CSE: RAMM),
a leader in plant-derived cannabinoid pharmaceutical products,
announces that pursuant to the blanket relief granted by the
Canadian Securities Administrators it will not be filing its
interim financial statements for the quarter ended January 31,
2020, and the related management’s
discussion and analysis, as required by Parts 4 and 5
of National Instrument 51-102 - Continuous Disclosure Obligations
(collectively, the “
Interim Filings”) by the
filing deadline of March 31, 2020. The Company expects to report
results within the next two weeks, and is afforded a postponement
up to a maximum 45-day extension pursuant to blanket relief for all
market participants granted by the Canadian Securities
Administrators.
The Company’s primary focus during these
difficult times is ensuring a safe and healthy environment for its
workforce, and to continue to implement and enforce additional
precautionary health and safety measures as required resulting from
the COVID-19 pandemic. As a manufacturer of critical medical
supplies, RAMM has seen a significant increase in demand for many
of its products and has focused significant resources to meeting
this need in addition to is operating its pharmaceutical and other
product business.
Other than disclosed in the Company’s press
releases and its issuer profile on SEDAR, there have not been any
material business developments since the date of the last annual
financial statements of the Company that were filed.
The Company confirms that its management and
other insiders are subject to an insider trading black-out policy
that reflects the principles in section 9 of National Policy 11-207
– Failure-to-File Cease Trade Orders and Revocations in Multiple
Jurisdictions, such that they are in a black-out period until the
end of the second trading day after the Interim Filings have been
disclosed by way of a news release.
About RAMM Pharma Corp.Lead by
renowned cannabis industry experts and backed by successful
pioneers in the cannabis sector, RAMM is a leader in the field of
cannabinoid pharmacology and product formulation for cannabis-based
pharmaceuticals and other cannabis-based products. Founded in 1988
in Montevideo, Uruguay, the Company is a well established
pharmaceutical and medical product business that has developed
medically registered and approved plant-derived cannabinoid
pharmaceutical products. The Company currently has multiple
approved and registered products that have been authorized for sale
in Uruguay and compassionate use in several Latin American
countries, as well as a pipeline of new products in various stages
of approval and development produced in the Company’s state of the
art Good Manufacturing Practice (GMP) certified cannabis
formulation facility. Further to its industry leading activities in
the cannabis sector, the Company operates a successful
pharmaceutical, cosmetic and nutraceutical product development and
medical services business which has been servicing the local market
for 30 years.
RAMM Pharma Corp. includes wholly owned
subsidiaries Medic Plast SA, Yurelan SA and Ramm Pharma Holdings
Corp.
Additional information about the Company is
available at www.rammpharma.com.
For further information, please contact:
Matías PiñeiroChief Financial Officer+598 92 22
31 31info@rammpharma.com
Cautionary Note Regarding
Forward-Looking Information
This news release contains "forward-looking
information" and "forward-looking statements" (collectively,
"forward looking statements") within the meaning
of the applicable Canadian securities legislation. 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 news release. Any statement that involves
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions, future events or
performance (often but not always using phrases such as “expects”,
or “does not expect”, “is expected”, “anticipates” or “does not
anticipate”, “plans”, “budget”, “scheduled”, “forecasts”,
“estimates”, “believes” or “intends” or variations of such words
and phrases or stating that certain actions, events or results
“may” or “could”, “would”, “might” or “will” be taken to occur or
be achieved) are not statements of historical fact and may be
forward-looking statements. In this news release, forward looking
statements relate, among other things, the Company’s strategies and
objectives, and future expansion plans.
These forward-looking statements are based on
reasonable assumptions and estimates of management of the Company
at the time such statements were made. Actual future results may
differ materially as forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to
materially differ from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors, among other things, include: expected
timing of the filing of the Interim Filings; the impact of COVID-19
on the Company’s workforce, suppliers, partners, customers, and
other essential resources and what effect those impacts, if they
occur, would have on the Company’s business and operations; future
growth potential of the Company; fluctuations in general
macroeconomic conditions; fluctuations in securities markets;
expectations regarding the size of the Uruguayan, Latin American,
and international medical and recreational cannabis markets and
changing consumer habits; the ability of the Company to
successfully achieve its business objectives; plans for expansion;
political and social uncertainties; inability to obtain adequate
insurance to cover risks and hazards; and the presence of laws and
regulations that may impose restrictions on cultivation,
production, distribution and sale of cannabis and cannabis related
products in Uruguay or internationally; and employee relations.
Although the forward-looking statements contained in this news
release are based upon what management of the Company believes, or
believed at the time, to be reasonable assumptions, the Company
cannot assure shareholders that actual results will be consistent
with such forward-looking statements, as there may be other factors
that cause results not to be as anticipated, estimated or intended.
Readers should not place undue reliance on the forward-looking
statements and information contained in this news release. The
Company assumes no obligation to update the forward-looking
statements of beliefs, opinions, projections, or other factors,
should they change, except as required by law.
No stock exchange, securities commission or
other regulatory authority has approved or disapproved the
information contained herein.
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