ProtoKinetix, Incorporated (www.protokinetix.com) (the “Company” or “ProtoKinetix”) (OTCQB:PKTX) has been requested by OTC Markets Group to comment on certain recent promotional activity encouraging investors to purchase the Company’s common shares. The Company first became aware of certain promotional third-party newsletter activities from OTC Markets Group on May 2, 2019.
Effective May 1, 2019 the Company engaged two investor relations groups to launch a marketing campaign, Burdell Partners LLC and Murdock Capital Partners Corp. The campaign was designed to bring the awareness of the investment community to the Company’s progress and continued successes in multiple health related studies and clinical trials.
Trading volumes of the Company’s common stock on the OTCQB began to increase on or about May 1, 2019. The Company attributes the increase to a number of factors, including the marketing campaign that began in early May, a Company press release dated April 23, 2019 which announced phase 3 of testing using AAGP® in retinal cell replacement therapy at the University of British Columbia, and downstream circulation of marketing collateral such as the promotional materials you referenced in your letter to the Company.
After inquiry of management, the directors and control persons, its officers, directors, and any controlling shareholders the Company confirms that none of the foregoing were involved with the creation or distribution of the promotional third-party newsletter materials, and did not have editorial control over such content, such as to the factual aspects about the Company’s operations and activities. The Company confirmed with Burdell Partners LLC and Murdock Capital Partners Corp. that they were not involved with the newsletter materials and were only recently engaged by the Company.
Based on the filings with the SEC and after inquiry of management, directors, officers, control persons and any third-party service providers, in the last 90 days the Company’s President and Chief Executive Officer purchased the Company’s securities on the open market and pursuant to a private placement, and the Company’s Chief Financial Officer purchased securities on the open market.
In addition to the two firms hired as of May 1, 2019, in the last 12 months, the Company continues to engage Blair Henderson to provide public relations services.
The Company would like to take this opportunity to assure its investors and the public that any materials being published by the Company, including all reports and other filings with the Securities and Exchange Commission, the OTC Markets, and all information published in the Company’s press releases, are true and correct in all material respects.
In addition, the Company’s officers, directors, employees, and consultants are subject to a strict insider trading policy that prohibits any purchase or sale of securities of the Company if such person is in possession of material non-public information, and prohibits any such person from disseminating such material, non-public information about the Company.
In connection with providing services to the Company, Burdell Partners and Murdock Capital Partners were issued stock options at a price per share as calculated consistent with the Company’s 2017 Amended Stock Option and Stock Bonus Plan.
About ProtoKinetix, Incorporated
ProtoKinetix is a molecular biotechnology company that has developed and patented a family of hyper stable, potent glycopeptides (AAGP®) that enhance both engraftment and protection of transplanted cells used in regenerative medicine. Due to the results achieved over the last four years of testing, the University of Alberta has begun Phase 1 human clinical trials. Additional studies will be expanded to include whole organ transplantation and all therapies that are being developed globally to date; diabetes, retinal degeneration, cardiac repair and many other degenerative conditions. In addition, we are studying the potential impact on several cancer therapies.
For more Company information and to join our email listing visit our website at ProtoKinetix.com.
Cautionary Note Regarding Forward-Looking Statements
The information discussed in this press release includes “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”). All statements, other than statements of historical facts, included herein concerning, among other things, planned capital expenditures, future cash flows and borrowings, pursuit of potential acquisition opportunities, our financial position, business strategy and other plans and objectives for future operations, are forward looking statements. These forward looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “project,” “plan,” “believe,” “intend,” “achievable,” “anticipate,” “will,” “continue,” “potential,” “should,” “could,” and similar terms and phrases. Although we believe that the expectations reflected in these forward looking statements are reasonable, they do involve certain assumptions, risks and uncertainties and are not (and should not be considered to be) guarantees of future performance. Among these risks are those set forth in a Form 10-K filed on March 12, 2019. It is important that each person reviewing this release understand the significant risks attendant to the operations of ProtoKinetix. ProtoKinetix disclaims any obligation to update any forward-looking statement made here.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.
For further information, please contact:
Clarence E. Smith
President and Chief Executive Officer