RAMM Pharma announces that it will not be filing its interim financial statements for the quarter ended January 31, 2020.
RAMM Pharma Corp. (including its wholly owned subsidiaries, the “Company” or “RAMM”) (CSE:RAMM), a leader in plant-derived cannabinoid pharmaceutical products, announces that pursuant to the blanket relief granted by the Canadian Securities Administrators it will not be filing its interim financial statements for the quarter ended January 31, 2020, and the related management’s discussion and analysis, as required by Parts 4 and 5 of National Instrument 51-102 – Continuous Disclosure Obligations (collectively, the “Interim Filings”) by the filing deadline of March 31, 2020. The Company expects to report results within the next two weeks, and is afforded a postponement up to a maximum 45-day extension pursuant to blanket relief for all market participants granted by the Canadian Securities Administrators.
The Company’s primary focus during these difficult times is ensuring a safe and healthy environment for its workforce, and to continue to implement and enforce additional precautionary health and safety measures as required resulting from the COVID-19 pandemic. As a manufacturer of critical medical supplies, RAMM has seen a significant increase in demand for many of its products and has focused significant resources to meeting this need in addition to is operating its pharmaceutical and other product business.
Other than disclosed in the Company’s press releases and its issuer profile on SEDAR, there have not been any material business developments since the date of the last annual financial statements of the Company that were filed.
The Company confirms that its management and other insiders are subject to an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions, such that they are in a black-out period until the end of the second trading day after the Interim Filings have been disclosed by way of a news release.
About RAMM Pharma Corp.
Lead by renowned cannabis industry experts and backed by successful pioneers in the cannabis sector, RAMM is a leader in the field of cannabinoid pharmacology and product formulation for cannabis-based pharmaceuticals and other cannabis-based products. Founded in 1988 in Montevideo, Uruguay, the Company is a well established pharmaceutical and medical product business that has developed medically registered and approved plant-derived cannabinoid pharmaceutical products. The Company currently has multiple approved and registered products that have been authorized for sale in Uruguay and compassionate use in several Latin American countries, as well as a pipeline of new products in various stages of approval and development produced in the Company’s state of the art Good Manufacturing Practice (GMP) certified cannabis formulation facility. Further to its industry leading activities in the cannabis sector, the Company operates a successful pharmaceutical, cosmetic and nutraceutical product development and medical services business which has been servicing the local market for 30 years.
RAMM Pharma Corp. includes wholly owned subsidiaries Medic Plast SA, Yurelan SA and Ramm Pharma Holdings Corp.
Additional information about the Company is available at www.rammpharma.com.
For further information, please contact:
Chief Financial Officer
+598 92 22 31 31
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking statements relate, among other things, the Company’s strategies and objectives, and future expansion plans.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: expected timing of the filing of the Interim Filings; the impact of COVID-19 on the Company’s workforce, suppliers, partners, customers, and other essential resources and what effect those impacts, if they occur, would have on the Company’s business and operations; future growth potential of the Company; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Uruguayan, Latin American, and international medical and recreational cannabis markets and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of cannabis and cannabis related products in Uruguay or internationally; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.