Portage Announces Filing of Annual Financial Statements
- Reflecting significant strengthening of Company's fundamentals
- Pipeline progressing: anticipate 3 clinical programs by year end
- Financial resources enable accelerated development and opportunistic value creation
Toronto, Ontario--(Newsfile Corp. - August 24, 2020) - Portage Biotech Inc. (CSE: PBT.U) (OTC Pink: PTGEF) ("Portage" or the "Company") announces that the Company has filed its annual financial statements for the fiscal year ended March 31, 2020, related management's discussion and analysis and officer certifications, as required by Parts 4 and 5 of National Instrument 51-102 Continuous Disclosure Obligations (collectively, the "Annual Filings").
Previously on July 28, 2020, Portage announced that pursuant to the blanket relief granted by the Canadian Securities Administrators, it would not file the Annual Filings by the filing deadline of July 29, 2020.
The Company relied on an exemption set out in Ontario Instrument 51-505: Temporary Exemption from Certain Corporate Finance Requirements and similar extension periods provided for by the Canadian Securities Administrators in the other provinces and territories of Canada which provides blanket relief of a 45-day extension provided for periodic filings normally required to be made by issuers during the period from June 2, 2020 to August 31, 2020.
This announcement serves as confirmation that Portage has filed the Annual Filings before the extension deadline required by the Canadian Securities Administrators. The Company is now current on its continuous disclosure.
About Portage Biotech Inc.
Portage is a unique entity in the world of biotechnology, enabling research and development to produce more clinical programs and maximize potential returns by eliminating typical overhead costs associated with many biotechnology companies. We nurture the creation of early- to mid-stage, first- and best-in-class therapies for a variety of cancers, by providing funding, strategic business and clinical counsel, and shared services, to enable efficient, turnkey execution of commercially-informed development plans. Our portfolio encompasses nine subsidiary companies whose products or technologies have established scientific rationales, including intratumorals, nanoparticles, liposomes, aptamers, cell penetrating peptides, and virus-like particles. In collaboration with our subsidiaries, we create viable product development strategies, to cost-effectively deliver best-in-class R&D, clinical trial design, and financial and project management, to ultimately build value and support commercial potential.
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Portage Biotech Inc., the raising of additional capital and the future development of the businesses comprising Portage's investment portfolio. The forward-looking information is based on certain key expectations and assumptions made by the Company's management. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Portage can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and Portage disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. We seek Safe Harbor.
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