Cerebain Biotech Closes Share Exchange Agreement With PKG, Inc.

Rhea-AI Summary

Cerebain Biotech Corp. (OTC: CBBT) has successfully closed a Share Exchange Agreement with PKG, Inc., gaining total control and ownership of PKG. This strategic acquisition enhances Cerebain’s capabilities in developing a minimally invasive implantable device aimed at improving cognitive function related to dementia, especially Alzheimer’s disease. PKG, established in 1989, specializes in system-level device design and manufacturing. This acquisition aligns with Cerebain's vision to advance its product offerings and improve its market position in the medical device sector.

Positive

• Cerebain now fully owns PKG, potentially enhancing its product development capabilities.
• The acquisition aligns with Cerebain's focus on advancing medical devices related to cognitive function.

Negative

• None.

COSTA MESA, Calif.--(BUSINESS WIRE)-- Cerebain Biotech Corp. (OTC: CBBT), (the “Company” or “Cerebain”) today announced that it has closed the Share Exchange Agreement with PKG, Inc. (PKG) thereby having total control and ownership of PKG, Inc.

About Cerebain Biotech Corp.

Cerebain Biotech Corp. (OTC: CBBT) is a development-stage medical device company focused on the creation and clinical development of a minimally invasive implantable device and a synthetic drug solution. The device leverages the clinically observable, positive impact that Omentum stimulation has on cognitive function as related to dementias, and in particular, Alzheimer’s disease. The corporate vision is based on these positive clinical observations. Visit us at www.cerebain.com or connect with us on Twitter and Facebook to learn more.

About PKG, Inc.

PKG, Inc. was established in 1989 and is a privately held corporation based in Meridian, ID. PKG, Inc. specializes in contract design, development, and manufacturing of system-level devices with expertise in human-machine interfaces. With experience in medical, aerospace, government, and industrial products, PKG helps raise your company to the next level by leveraging our engineering and technology integration skills across your product lines. With a complete in-house vertical integration of expertise, services, manufacturing processes, and technologies, PKG provides our customers with all of their product development and manufacturing needs. Besides our expertise in system-level devices and human-machine interfaces, PKG also offers incubation and acceleration services for startup businesses and entrepreneurs. For more information visit, www.pkguis.com

Forward-Looking Statements

This news release contains certain "forward-looking statements." Forward-looking statements are based on current expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, and many of which are beyond the Company's control. The forward-looking statements are also identified through the use of words "believe," enable," "may," "will," "could," "intends," "estimate," "anticipate," "plan," "predict" "probable," "potential," "possible," "should," "continue," and other words of similar meaning. Actual results could differ materially from these forward-looking statements as a result of a number of risk factors detailed in the Company's reports filed with OTC Markets. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements and no assurances can be given that such statements will be achieved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210920005703/en/

Investors:

Mr. Alan Klitenic

Cerebain Biotech Corp.

888.430.2221

info@cerebain.com

Source: Cerebain Biotech Corp.

FAQ

What recent acquisition did Cerebain Biotech Corp. (CBBT) announce?

Cerebain Biotech Corp. announced the closing of a Share Exchange Agreement with PKG, Inc.

How does the acquisition of PKG, Inc. impact Cerebain Biotech Corp. (CBBT)?

The acquisition allows Cerebain to gain total control of PKG, enhancing its capabilities in developing medical devices.

What is the focus of Cerebain Biotech Corp. (CBBT)?

Cerebain focuses on developing minimally invasive devices to improve cognitive functions related to dementias, particularly Alzheimer's.

When was the Share Exchange Agreement between Cerebain and PKG closed?

Cerebain closed the Share Exchange Agreement with PKG, Inc. recently, as announced in their press release.