Portage Announces Filing of Q1 Interim Financial Statements; Correction to SalvaRX Loan Note Settlement Announcement

Portage Biotech Inc. (CSE: PBT.U) (OTC Pink: PTGEF) ("Portage" or the "Company") announces that the Company has filed its interim financial statements and related management's discussion and analysis for the three-month period ending June 30, 2020 and related delivery requirements (the "Q1 Filings").

Previously on August 28, 2020, Portage announced that pursuant to blanket relief granted by the Canadian Securities Administrators, it would not file the Q1 Filings by the filing deadline of August 31, 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.

Also, further to the Company's news release of October 13, 2020 regarding issuance of common shares and warrants in settlement of certain SalvaRx loan note obligations, the Company has issued 397,604 (corrected from 375,014) common shares at a deemed price of US$6.64 per common share and 49,701 (corrected from 72,291) common share purchase warrants exercisable at a price of $6.64 per common share for a period of 2 years. This correction has been issued as a result of a late notification received by the Company from an arm's length loan note holder.

About Portage Biotech Inc.

Portage Biotech is a clinical stage biopharmaceutical company developing an innovative portfolio of immuno-oncology assets. Our oncology focussed products or technologies are based on biology addressing known resistance pathways/mechanisms of current check point inhibitors with established scientific rationales, including intratumorals, nanoparticles, liposomes, aptamers, cell penetrating peptides, and virus-like particles. We create and execute viable cost-effective product development strategies by delivering superior clinical trial design, and project management, to ultimately build value and support commercial potential in, first- and best-in-class therapies for a variety of cancers.

Forward-Looking Statements

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.

FOR MORE INFORMATION, PLEASE CONTACT:

Ian B. Walters, MD, Chief Executive Officer
Tel.: 203.221.7378
Email: ian@portagebiotech.com
Website: www.portagebiotech.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66188

News Provided by Newsfile via QuoteMedia

The Conversation (0)
  BPH Global Ltd

120-Day Business Development Plan

The Board of BPH Global Ltd (ASX: BP8) (Company) announces that the Company’s CEO Matthew Leonard and CFO Chow Yee Koh are currently travelling in Malaysia and China for a series of meetings over a 2–3- week period commencing last week. The CEO and CFO will be joined by China-based Company Director Michael Huang for strategic meetings in Malaysia and China.

Keep reading...Show less
  BPH Global Ltd

BP8 to Expand Seaweed R&D Activities into Essential Mineral Extraction Utilising AI Search Technology; Carbon Credits

The Board of BPH Global Ltd (ASX: BP8) (Company) is pleased to announce that the Company is expanding the nature of its business to include the following projects:

Keep reading...Show less
Sirona Biochem Receives Commercial-Grade GlycoProteMim Based Anti-Aging Serum Formulations

Sirona Biochem Receives Commercial-Grade GlycoProteMim Based Anti-Aging Serum Formulations

Sirona Biochem Corp . (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) (" Sirona " or the " Company ") announces a significant achievement in its quest to transform the skincare industry. Its subsidiary, TFChem, has successfully received formulations for its eagerly awaited GlycoProteMim™ based anti-aging serum from its formulation partner, Global Beauty Consulting (GBC). This marks a crucial step in Sirona Biochem's plan to offer innovative skincare solutions.

The chosen formulation will not only define the brand but also lay the foundation for a broader range of products. The team is in the process of selecting the precise formulation that will undergo standard safety evaluations and be used in the upcoming clinical trial. This is in preparation for the planned product launch in early 2025, ensuring compliance with regulatory standards in the European, US, and Canadian markets.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
double helix molecule with word "etf"

5 Small Biotech ETFs to Watch (Updated 2024)

Thanks to exchange-traded funds (ETFs), investors don’t have to be tied to one specific stock. Biotech ETFs allow market participants to gain leverage in multiple biotech companies via one investment vehicle.

The life science sector can certainly be risky, and ETFs are a good way to enter more safely than by investing in standalone stocks. A key advantage is that even if one company in the ETF takes a hit, the impact will be less direct.

Below the Investing News Network takes a look at five small biotech ETFs for investors to consider. They were selected using ETFdb.com, and their total assets under management (AUM) were under US$100 million as of March 8, 2024. All other figures were also current as of that date. Read on to learn more about these investment vehicles.

Keep reading...Show less

AMGEN PRESENTS NEW RESEARCH ON OTEZLA® AT AAD 2024

SPROUT 52-Week Data Demonstrate Durable Response and Consistent Safety Profile of Oral Otezla in Children with Moderate to Severe Plaque Psoriasis

Late-Breaking Phase 3 Study of Otezla in Palmoplantar Pustulosis Achieves Primary and Secondary Endpoints at 16 Weeks

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
Collage with hands holding shiny DNA molecule on blue background.

5 Biggest Biotechnology ETFs in 2024

Investing in the biotech industry can be a long road to gains given the sector’s volatility.

Even with a good understanding of the system, no one can predict which treatment, device or therapy will give the biggest return, making biotech exchange-traded funds (ETFs) a more secure option than individual biotech stocks.

An ETF is a relatively safe investment route that can minimize losses while offering exposure to multiple companies instead of focusing on the gains and losses of a single biotech stock. With that in mind, here’s a brief look at the five top biotechnology ETFs by total assets. Data was sourced from ETFdb.com on March 1, 2024, and all data was current as of that time.

Keep reading...Show less

Latest Press Releases

Related News

×