PreveCeutical Provides Update on Visit to Penta 5 Group's Facility for Due Diligence on Proposed Acquisition
Vancouver, British Columbia--(Newsfile Corp. - October 31, 2018) - PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) (the "Company" or "PreveCeutical"), provides an update on its recent due diligence trip (the "Due Diligence Trip") to view a facility operated by the Penta 5 group of companies (the "Penta 5 Group") in connection with the Company's proposed acquisition (the "Acquisition") of the Penta 5 Group and its assets (see news release dated October 3, 2018).
The Due Diligence Trip to the 150,000 square foot facility located in Sarasota, Florida, included a tour of the facility's Food and Drug Administration approved filling and packing rooms, sealing machinery, bonded warehouse, as well as the full range of low and high-speed production lines and meetings with key members of the Penta 5 Group management and operations staff. PreveCeutical's management team reported that the facility exceeded their expectations, and that they are advancing to the next stage of the due diligence process.
Stephen Van Deventer, PreveCeutical's Chairman, Chief Executive Officer and President, stated, "We are pleased with the Penta 5 Group site visit and are moving forward with our due diligence using the data collected at the facility. We are encouraged by the scope of the Penta 5 Group facility's diverse capabilities and how the addition of their five divisions and contract ready products could be applied to the future growth of 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 IdenticalTM 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 further information, please contact:
PREVECEUTICAL MEDICAL INC.
Director of Corporate Communications & Investor Relations
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 results of the Company's due diligence on the Penta 5 Group; the completion of the Acquisition; the ability of the Company to commercialize the Penta 5 Group's products; the manufacture and sale of the Company's current and future products; the efficacy of the Company's products, generally; matters related to the Company's current and planned research and development programs; the anticipated benefits of the Acquisition; the Company's anticipated business plans; and the prospect of its ability and success in executing its proposed plans. Forward-looking statements are based on certain assumptions regarding the Company, including expected growth, results of operations, performance, industry trends and growth opportunities. 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, including Canadian Securities Exchange acceptance of the Acquisition; complete the Acquisition; continue its research programs; and obtain the financing required to carry out its planned future activities. Other factors such as general economic, market or business conditions or changes in laws, regulations and policies affecting the healthcare, cannabis, biotechnology, pharmaceutical or packaging 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.
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