Canadian International Pharma Corp. Delays Non-Brokered Private Placement
News Release No: 15-11
Trading symbols: TSX-V - NEX: CIP.H
Frankfurt: BP4
Canadian International Pharma Corp. Delays Non-Brokered Private Placement
West Vancouver, British Columbia, October 8, 2015 – By news release dated September 8, 2015, Canadian International Pharma Corp. (the “Company” or “CIPC”) announced that, subject to regulatory approval, the Company intended to proceed with a non-brokered private placement to raise up to $490,000 by the issuance of 7,000,000 units (the “Units”) at $0.07 per Unit. However, as part of the Company’s developing business plans, it is in negotiation with certain manufacturers in an effort to expand the Company’s distribution business. Completion of these negotiations may have an impact on the Company’s future capital requirements. Therefore, the Company has determined that it will delay the previously announced private placement until the current distribution negotiations have been concluded. Thereafter, the Company intends to re-announce its private placement.
About Canadian International Pharma Corp.
Canadian International Pharma Corp (“CIPC”) intends to become a multi-faceted generic drug manufacturing, distribution and testing / certification company. Once the Company has obtained its expected Canadian Good Manufacturing (“GMP”) license, CIPC plans to focus on applying GMP standards to generics manufactured outside of Canada so that these generics can be certified and tested on an ongoing basis as meeting Canadian standards. The Company also plans to utilize its anticipated GMP license and its planned Canadian manufacturing facility to produce generics and neutraceuticals in Canada for the Canadian market. CIPC also plans to take advantage of international market demands for Canadian and US manufactured neutraceuticals and, in connection therewith, CIPC intends to negotiate and establish distribution agreements with Canadian and US neutraceuticals manufacturers.
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922-2030.
CANADIAN INTERNATIONAL PHARMA CORP.
“Douglas L. Mason”
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Douglas L. Mason, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.
FORWARD LOOKING STATEMENTS
This release includes certain statements that may be deemed “forward-looking statements” within the meaning of applicable securities legislation. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “does not expect”, “plans”, “anticipates”, “does not anticipate”, “believes”, “suspects”, “intends”, “estimates”, “projects”, ”targets”, “potential”, “scheduled”, “forecast”, “budget” and similar expressions, or that events or conditions “will”, “would”, “may”, “could”, “should” or “might” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements give the Company’s current expectations, or forecasts of future events and are not guarantees of future performance and actual results may differ materially from those expressed in, or implied by, this forward looking information. Factors that could cause actual results to differ materially from those in forward-looking statements include, for example, such matters as market prices for the Company’s anticipated products, regulatory approvals required for the Company’s business plans, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.