VANCOUVER, Sept. 19, 2019 /CNW/ - Pivot Pharmaceuticals Inc. (CSE: PVOT /OTCQB: PVOTF / FRA: NPAT) ("Pivot" or the "Company"), is responding to the Stockwatch Article dated September 18, 2019 regarding the claims filed by Aly Ismail/Green Stream Botanicals Corp. ("Aly Ismail"). As of the date hereof, Pivot has not been served with the claim and Pivot strongly denies all allegations contained in the article and the claims by Aly Ismail as described in the article are without merit.
Pivot further notes that neither Aly Ismail nor Green Stream Botanicals Corp. nor NH Transcendental Solutions Inc. are registrants under Canadian securities laws and thus any claim by Aly Ismail with respect to a finder's fee in connection with a private placement without the appropriate registration or exemption would constitute a breach by Aly Ismail of Canadian securities laws. Pivot intends to vigorously defend the claim, if as and when served by Aly Ismail. Pivot urges the regulators to sanction unregistered non-exempt persons that are engaging in activities such as those allegedly engaged by Aly Ismail that would be in violation of applicable securities laws.
About Pivot Pharmaceuticals Inc.
Pivot Pharmaceuticals Inc. is a science-based, consumer packaged goods cannabis company engaged in the development and commercialization of health and wellness products using innovative, patent-protected drug delivery technologies. Upon receipt of Standard Processor and Medical Sales licenses (pending) from Health Canada, Pivot's premium, bioavailable, stable and effective products will be manufactured at its 50,000-sq. ft. cGMP facility located in Montreal, Quebec. Pivot's wholly-owned U.S. subsidiary, Pivot Naturals, LLC, based in Costa Mesa, California, was granted a Provisional Annual Manufacturing License Type N: Infusion License by the California Department of Public Health in May 2019 and a Provisional Adult-Use and Medicinal – Distributor-Transport License by the Bureau of Cannabis Control in June 2019. Pivot's product line will include infused beverages, vegan capsules, dissolvable tablets, topical creams and gels, intimate lubricants, roll-on pain relievers, stick packs, and bulk powder for the edibles market.
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Cautionary Note Regarding Forward-Looking Statements
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as anticipate, believe, estimate, expect, intend, and similar expressions, as they relate to Pivot Pharmaceuticals Inc., Pivot Green Stream Health Solutions Inc., Pivot Naturals, LLC, or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, such as the failure to meet the conditions imposed by the CSE or other securities regulators, the level of business and consumer spending, the amount of sales of Pivot's products, statements with respect to internal expectations, the competitive environment within the industry, the ability of Pivot to continue to expand its operations, the level of costs incurred in connection with Pivot's expansion efforts, economic conditions in the industry, and the financial strength of Pivot's customers and suppliers. Pivot does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.
SOURCE Pivot Pharmaceuticals Inc.
For further information: Pivot Pharmaceuticals Inc.: Toni Rinow, Ph.D., MBA, Chief Executive Officer, email: email@example.com, Phone: 438-884-8841; Russell Starr, Shareholder Inquiries, email: firstname.lastname@example.org, Phone: 647-669-9801