VANCOUVER, BC / ACCESSWIRE / November 25, 2019 / EGF THERAMED HEALTH CORP. (CSE:TMED)(OTCQB:EVAHF) (the "Company)
The company would like to provide the following updates:
- The annual audited financial statements for the year ended June 30, 2019 have been filed and the company has informed the securities commission and confirming the requirements to file its annual financial statements have been satisfied in order to have the current Cease Trade Order lifted or revoked.
- The Company received notice for termination due to being in default of over $3.8 million in working capital commitments (as at September 2019) towards funding of the transaction for the joint venture with the private corporation ("PrivCo") holding a patent for an excipient carrier system that allows for the controlled released and solubility of non-soluble Active Pharmaceutical Ingredients (API's). Under the terms of the agreement in the event of default the company would forfeit its initial deposit The company is pleased to announce that it has negotiated the return to treasury of all 100,000 shares issued in connection with the transaction.
- The Company has also signed a notice of termination of the outstanding Veri-Medical Systems Corp. Agreement prior to closing and does not have any further obligations related to this previously pending transaction.
- The Company has dissolved its current Scientific Advisory Board and wishes to thank its members and wish them the best in their future endeavours.
The Company looks towards focusing on developing products, technologies, and diagnostic tools focused on personalized medical care system with the overall goal of improving health and elevating the human condition.
EGF THERAMED HEALTH CORPORATION
Contact: C.K. Cheung, CEO
Email [email protected]
Telephone: (778) 559-3939
CSE Micro-site: http://thecse.com/en/listings/technology/Theramed-Health-Corporation
US OTC Markets (OTCQB): http://www.otcmarkets.com/stock/EVAHF/news
About EGF THERAMED HEALTH
(CSE: TMED, OTCQB: EVAHF)
EGF Theramed Health Corporation - is a technology company focused in the healthcare and life sciences sector to develop a personalized healthcare system. The company through its subsidiaries has assets and technologies involved in extracting and purifying botanical extracts, creating formulations through its key scientists, and with its medical device technology monitoring capabilities. EGF Theramed's unique combination of technologies may allow it to be the first to be able to offer a complete quality assured vertically integrated "Natural Products Health System" for monitoring, dosing, and recording the effects of natural products on your cardiovascular system.
This news release contains forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The company disclaims any intention or obligation to revise or update such statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators and on the OTC Markets website which is posted on www.sedar.com, http://thecse.com/en/listings/technology/Theramed-Health-Corporation, and http://www.otcmarkets.com/stock/EVAHF/filings. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither the Canadian Securities Exchange (CSE or CNSX Markets), nor its Regulation Services Provider (as that term is defined in policies of the CSE), or any other regulatory authority accepts responsibility for the adequacy or accuracy of this release. The Company does not undertake to update this news release unless required by applicable law.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law and may not be offered or sold in the "United States", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.
SOURCE: EGF Theramed Health Corp.