Champion Pain Care Corporation Directors and Affiliated
Shareholders Enter into a Pledge and Escrow Agreement
New York, NY -- December 8, 2016 -- InvestorsHub NewsWire --
(OTCQB:CPAI)
- On December 1, 2016, the Directors and affiliated shareholders of
Champion Pain Care Corporation (Champion, the Company) entered into
a Pledge and Escrow Agreement for a total of over 83 Million shares
for the term of the Senior Secured Credit Facility Agreement (the
Credit Facility) entered into on December 1, 2016 and disclosed in
a news release and Form 8-K filed by the Company on the SEC website
on December 5, 2016.
The Pledge and Escrow Agreement stipulates that these
shareholders shall not assign, deal in, pledge, sell, trade or
transfer in any manner whatsoever, or agree to do so in the future,
any of the shares or any beneficial interest in them on or before
all of the obligations under the Credit Facility have been paid in
full.
The Company is of the opinion that having the shares of all of
the insiders and their affiliates committed to the Pledge and
Escrow Agreement will demonstrate to shareholders and potential
investors the commitment and confidence that management, directors
and affiliated shareholders have in the future of Champion.
About Champion
Champion is a medical services holding company that is focused
on creating a nation-wide network of clinics specializing in
providing pain resolution treatments. Chronic pain alone affects
100 Million Americans and is a growing market as the population
ages. Across the US, there are approximately 2,500 independent
private pain management clinics operated by nearly 4,000 certified
pain management specialists.
It is the goal of the Company to acquire a number of those
clinics, build a pain resolution network and create a national
brand that pain patients will turn to for effective, economical and
enduring pain treatments. To accomplish this, the Company plans to
provide centralized management and administration, improve
infrastructure, achieve economies of scale, implement standard
operating procedures and best practices and engage in marketing
directly to consumers.
Forward Looking Statements
This press release may contain statements which constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
regarding the intent, belief or current expectations of the
Company, its directors, or its officers with respect to the future
operating performance of the Company. Investors are cautioned that
any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties (for example, the
risk that the acquisition of additional clinics are not
consummated), and that actual results may differ materially from
those in the forward-looking statements as a result of various
factors. The Company's periodic filings with the Securities and
Exchange Commission available at www.sec.gov should be viewed for a
complete understanding of risk and uncertainty. Any forward-looking
statements in this release speak only as of the date on which it is
made. The Company assumes no obligation to update or revise any
forward-looking statements.
CONTACT
Terrance Owen, PhD, MBA
CFO
1-877-966-0311, Ext. 201
info@championpaincare.com
SOURCE
Champion Pain Care Corporation
RELATED LINKS
http://www.championpaincare.com