CALGARY, AB / ACCESSWIRE / June 24, 2021 / CannaPharmaRx, Inc. (OTC PINK:CPMD) a future leader in ultramodern, highly efficient cannabis production facilities in Canada, announced that it has been brought to its attention that a Third Party has issued a Press Release. Management believes this update is from an unaffiliated third party posting information about the company. CannaPharmaRX has never communicated with, nor engaged these groups to provide any services or promotion.
CannaPharmRX does not endorse views made by unauthorized third parties of any kind, including, but not limited to, newsletter writers, bloggers or social media users. CannaPharmaRX strongly suggests relying on filings or disclosures submitted to the Securities and Exchange Commission and press releases disseminated by the company for any information regarding the company.
CannaPharmaRX learned about certain promotional activity June 22, 2021 when it was notified that promotional articles were published on the internet by a non-affiliated third-party source.
The source of the promotional activity was an online article, by 'MMJ Reporter'.
The Company had no prior knowledge of the unauthorized promotional activity and neither the Company nor its officers or directors were involved with the creation or distribution of the promotional materials. Moreover, the Company had no editorial control over the content of the promotional materials. There were no significant changes in trading price at or around the date of the promotional activity.
There were certain factual statements in the promotional materials that were true; however, there were statements as to future events regarding the potential for market share gain and eventual revenues that we have no way of knowing if they will prove to be true or false. Therefore, we believe these statements could be misleading if the reader does not understand that the statements were not based on facts, but instead were based on predictions. statements could be misleading if the reader does not understand that the statements were not based on facts, but instead were based on predictions.
After inquiry, the Company confirms that its officers, directors, material third party service providers and controlling shareholders (i.e., shareholders owning 10% or more of the Company's securities), have not, directly or indirectly been involved in any way with the creation distribution or payment for the promotional materials, nor have they purchased or sold the Company's securities within the past 90 days.
The Company encourages those interested in the Company to rely solely on information included in its press releases and its filings and disclosures made with the Securities and Exchange Commission (through the EDGAR Database) and OTC Markets Group.
The Company has issued convertible instruments which allow such securities to be converted to its equity securities at prices constituting a discount to the market rate at the time of issuance. These convertible securities were disclosed in the Company's SEC filings and 10-Q filed for the period ending March 31, 2021. The Company has been publicly-traded and an SEC filer since late-1999. We would point you to our most recently filed 10Q for the period ended March 31, 2021 and 10K for the period ended December 31, 2020, which includes all of our disclosures on equity stock grants and issuances as well as risk factors.
Corporate development, Investor relations and advisory services on behalf of the Company over the past 12 months have been provided by Chesapeake Group. The Company has inquired with all its third-party vendors and they all denied any involvement in the promotional activity. Any payments for the promotion and the promotions themselves were made without the knowledge or direction of the Company or its officers and directors.
About CannaPharmaRx, Inc.
CannaPharmaRx is focused on the acquisition and development of state-of-the-art cannabis grow facilities. CPMD owns a 48,500 square foot cannabis grow facility presently under development and is currently in discussion with other companies regarding potential acquisitions. CannaPharmaRx's business strategy is to become a leader in high quality and low-cost production of cannabis through the development, acquisition and enhancement of existing facilities. CannaPharmaRx is committed to operating high quality facilities utilizing the latest technology in combined heat and power generation to ensure being a low-cost producer of cannabis. CannaPharmaRx is also in the process of completing an application to list its common stock for trading on the Canadian Stock Exchange, with initial trading anticipated to being during the third quarter of 2020. The Company also anticipates submitting an application to list its common stock for trading on the OTCQB in the near future as well.
Safe Harbor Statement
Cautionary Note Regarding Forward-Looking Information or Statements
This press release contains forward-looking information or statements. All statements that are or information which is not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are 'forward-looking information or statements'. Forward-looking information or statements can be identified by the use of words such as 'plans', 'expects' or 'does not expect', 'is expected', 'estimates', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. With respect to forward-looking information and statements contained herein, Management of CannapharmaRx has made numerous assumptions including, among other things, assumptions about general business and economic conditions. Such forward-looking statements are based on assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking information or statements. Readers are cautioned not to place undue reliance on such forward-looking information or statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking information or statements. CannapharmaRx assumes no obligation to update any forward-looking information or statements, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.
Contact Information:
CannaPharmaRx Contact
Attention: Richard Brown
Ness Capital & Consulting
[email protected]
(978) 767-0048
Brokers and Analysts:
Chesapeake Group
(410) 825-3930
[email protected]
SOURCE: CannaPharmaRx