Rafarma Approves Issuance of Majority of Voting Shares to Board Chairman Ilya Shpurov
Rafarma Pharmaceuticals, Inc. (OTC: RAFA) is pleased to announce approval of Ilya Shpurov receiving the majority of Preferred B shares, conferring voting control of the company, toward the combination of its acquisition by R. & D. BIOCOGENCY LABORATORIES Group of Companies. The issuance of restricted preferred shares does not create any dilution of common shares.
Vladimir Dolgolenko, CEO of Rafarma, commented: “we look forward to this new chapter in the history of the company, enhanced by the leadership of Mr. Shpurov and the enhanced value of Rafarma resulting from this transaction.”
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SOURCE: Rafarma Pharmaceuticals, Inc.