West Vancouver, British Columbia, July 6, 2016 – Canadian International Pharma Corp. (the “Company” or “CIPC”) announces that it has extended the closing of its non-brokered private placement offering announced on May 17, 2016. The Company intends to close its private placement in two tranches. The first tranche is expected to close within a week and the second tranche is expected to close later this month. Under this private placement, the Company intends to raise up to $500,000 by the issuance of up to 5,000,000 non-flow through units (the “Units”) at $0.10 per Unit. Each Unit will consist of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share for a period of one year at an exercise price of $0.15. With respect to this private placement, the Company may pay finders’ fees in the amount of 10% (payable in cash or Units), based on the sale of the Units purchased by subscribers introduced to the Company by such finders.
The Company intends to use the proceeds from this private placement for financing the continued development and pursuit of business opportunities in the area of pharmaceutical and neutraceutical manufacturing and distribution and for general working capital purposes.
About Canadian International Pharma Corp.
Canadian International Pharma Corp. (“CIPC” or the “Company”) is an emerging multi-faceted pharmaceutical company that is in the process of developing generic and nutraceutical drug manufacturing, distribution and sales. CIPC has recently launched its PharmaCert Program. PharmaCert is a certification program for testing and measuring finished dosage forms of nutraceutical and pharmaceutical medications. The Company has also aligned itself with Canadian and US manufacturers with the objective of manufacturing generics and nutraceuticals for Canadian and overseas markets.
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922-2030, or visit the Company’s website at www.canpharmacorp.ca.
CANADIAN INTERNATIONAL PHARMA CORP.
“Douglas L. Mason”
Douglas L. Mason, Chief Executive Officer
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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”, “plans”, “anticipates”, “believes”, “suspects”, “intends”, “estimates”, “projects”, ”targets”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements 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 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.