Letter to Shareholders Regarding Rafarma Acquisition by R. & D. Biocogency Laboratories Inc.
Rafarma Pharmaceuticals, Inc. (OTC: RAFA) presents the following letter to Rafarma shareholders from CEO Vladimir Dolgolenko:
During these exciting times I wanted to reach out to our shareholders and clarify some questions I have received. As recently announced, there will be a change in control forthcoming for Rafarma. The change in control will not affect the current share structure of the company. There has been no dilution and there are no current plans for dilution or issuance of additional shares as part of this acquisition. Our acquirer, R&D Biocogency Laboratories Inc. (“Biocogency”), brings an enormous amount of potential and an already proven business model. As stated in our previous release, Biocogency’s 2019 revenues were approximately $73 million with profits at approximately $17 million. We intend to both harness and grow these profits and further our expansion throughout Europe and Asia.
Thailand operations are continuing as planned and will only be improved with this new infusion of capital and more research opportunities. Our strategic partners are extremely excited with the progress that has been made in recent months.
This is also the first of what we believe will be several merger and acquisition activities. As we acquire additional companies and facilities, we believe shareholder value will increase immensely. As CEO I want to thank shareholders for their patience and their trust in Rafarma. I believe we are building a strong company with unlimited potential as we move forward.
CEO, Rafarma Pharmaceuticals, Inc.
This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate,” or “continue”, or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risk, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with OTC Markets. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
SOURCE: Rafarma Pharmaceuticals, Inc.