TORONTO, Feb. 16, 2018 /CNW/ - Xanthic Biopharma Inc. ("Xanthic" or the "Company"), formerly Aurquest Resources Inc., is pleased to announce that the nominees listed in the management information circular dated January 11, 2018 (the "Circular"), namely Tim Moore, Igor Galitsky, Dr. Shafik Dharamshi, Dr. Gunther Hintz, Carli Posner, David Lubotta, and Peter Schwartz, were elected as directors of Xanthic at the 2018 Annual and Special Meeting ("Meeting") held on February 16, 2018. At the Meeting, shareholders also approved all of the other resolutions put before them as set out in the Circular, including approving (i) the name change of the Company to Xanthic Biopharma Inc.; (ii) an eight (8) for one (1) share consolidation; and (iii) the 10% rolling stock option plan.
The Meeting represents a step toward completing the necessary processes ahead of the Company's application for listing its common shares on the Canadian Securities Exchange.
Xanthic, through its wholly-owned operating subsidiary, Xanthic Biopharma Limited, provides valuable intellectual property to cannabis industry participants, enabling its strategic partners to produce high quality, innovative, non-combustible cannabis, and cannabis-infused products which deliver consistent THC and/or CBD levels. Using a proprietary process, Xanthic allows its strategic partners to deliver superior cannabinoid solubility and consistency versus competitive infused products.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include the ability of Xanthic to successfully obtain a listing on the Canadian Securities Exchange. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances, except as required pursuant to applicable securities laws.
Xanthic's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
SOURCE Xanthic BioPharma