CannaPharmaRx Evaluates Investigation into Market Manipulation and Potentially Illegal Trading of Stock

Rhea-AI Summary

CannaPharmaRx, Inc. (OTC PINK:CPMD) announced on February 1, 2023, that its Board of Directors is reviewing actions to address unusual trading activity in its stock. The company suspects manipulative practices, including naked short selling, have artificially depressed its stock price. CannaPharmaRx plans to establish a task force and may consult third-party experts to investigate this issue. CEO Dominic Colvin emphasized the importance of protecting shareholder value and maintaining stock integrity. The company aims to enhance its cannabis production facilities and is in discussions for potential acquisitions.

Positive

• Commitment to investigating unusual trading activity.
• Plans to form a task force to tackle market manipulation.
• Focus on increasing revenue and protecting shareholder value.

Negative

• Allegations of market manipulation could concern investors.
• Current stock price may be artificially depressed due to suspected short-selling.

CALGARY, AB / ACCESSWIRE / February 1, 2023 / CannaPharmaRx, Inc. (OTC PINK:CPMD), a future leader in ultramodern, highly efficient cannabis production facilities announced today that its Board of Directors is reviewing options for examining and evaluating measures to address the unusual trading activity of the company's stock.

The company believes that certain individuals and/or companies may have engaged in naked short selling practices and other manipulative actions that have artificially lowered the stock price. As a result, the company is following the blueprint of other publicly traded companies in addressing this issue. CannaPharmaRx, Inc. believes the Company may have been the target of a market manipulation scheme and will develop a comprehensive plan and task force to investigate. The company may utilize third party experts to help remedy the situation.

"We are committed to executing our business model, rapidly increasing our revenue base and growing and protecting our shareholder value. The integrity of our stock is among our highest priorities," stated Chief Executive Officer, Dominic Colvin.

About CannapharmaRx, Inc.

CannapharmaRx is focused on the acquisition and development of state-of-the-art cannabis grow facilities in Canada. CPMD is in discussion with other companies regarding potential acquisitions. CannapharmaRx's business strategy is to become a leader in high quality and low-cost production of cannabis through the development, acquisition, and enhancement of existing facilities. CannapharmaRx is committed to operating high-quality facilities utilizing the latest technology in combined heat and power generation to ensure being a low-cost producer of cannabis.

Safe Harbor Statement

Cautionary Note Regarding Forward-Looking Information or Statements

This press release contains forward-looking information or statements. All statements that are or information which is not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance, are 'forward-looking information or statements.' Forward-looking information or statements can be identified by the use of words such as 'plans,' 'expects,' or 'does not expect,' 'is expected,' 'estimates,' 'intends,' 'anticipates,' or 'does not anticipate,' or 'believes,' or variations of such words and phrases or statements that certain actions, events or results 'may,' 'could,' 'would,' 'might' or 'will' be taken, occur or be achieved. With respect to forward-looking information and statements contained herein, Management of CannapharmaRx has made numerous assumptions, including, among other things, assumptions about general business and economic conditions. Such forward-looking statements are based on assumptions and involve known and unknown risks, uncertainties, and other factors that may cause actual results, events, or developments to be materially different from any future results, events, or developments expressed or implied by such forward-looking information or statements. Readers are cautioned not to place undue reliance on such forward-looking information or statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking information or statements. CannapharmaRx assumes no obligation to update any forward-looking information or statements, even if new information becomes available as a result of future events, new information, or for any other reason except as required by law.

Contact:

Brokers and Analysts
Chesapeake Group
410-825-3930
info@chesapeakegp.com

SOURCE: CannaPharmaRx

View source version on accesswire.com:
https://www.accesswire.com/737613/CannaPharmaRx-Evaluates-Investigation-into-Market-Manipulation-and-Potentially-Illegal-Trading-of-Stock

FAQ

What is CannaPharmaRx's response to unusual trading activity?

CannaPharmaRx is forming a task force to investigate suspected market manipulation and may consult third-party experts.

What stock symbol represents CannaPharmaRx?

CannaPharmaRx is represented by the stock symbol CPMD.

What are the allegations against CannaPharmaRx?

The company alleges that naked short selling and market manipulation have artificially lowered its stock price.

When did CannaPharmaRx announce its plan to address trading issues?

The announcement was made on February 1, 2023.

What is CannaPharmaRx's business focus?

CannaPharmaRx focuses on the acquisition and development of advanced cannabis production facilities in Canada.