Sapir Pharmaceuticals Acquisition

Rhea-AI Summary

Lode-Star Mining Inc. (OTCQB:LSMG) announced the acquisition of assets related to a proprietary stabilized formulation of the Epigallocatechin-gallate (EGCG) molecule from Sapir Pharmaceuticals, Inc.. The acquisition, valued at 1,000,000 shares of Series A Preferred Stock ($1.00/share), aims to further develop this antioxidant polyphenol known for its potential health benefits. Each preferred share can convert to 450 common shares, providing significant voting power. Investors are cautioned about forward-looking statements regarding future performance.

Positive

• Acquisition of EGCG formulation assets could enhance LSMG's product portfolio.
• Valuable health benefits associated with the EGCG molecule may attract investor interest.
• The preferred stock structure offers potential for increased voting influence for Sapir.

Negative

• The transaction involves a significant issuance of preferred shares that may dilute common stock value.
• Forward-looking statements highlight uncertainties that could impact future performance.

RENO, NV / ACCESSWIRE / December 30, 2021 / Lode-Star Mining Inc. (OTCQB:LSMG) is pleased to announce that it has acquired from Sapir Pharmaceuticals, Inc. all of the assets used in connection with the proprietary stabilized formulation of the Epigallocatechin-gallate (EGCG) molecule for further pharmaceutical development. The molecule is an antioxidant polyphenol with a variety of potential profound health benefits.

The consideration paid by Lode-Star for these assets was 1,000,000 shares of Series A Preferred Stock valued at $1.00 per share. Sapir has the right to convert each preferred share to 450 shares of common stock. Each share of preferred votes as 450 shares per one share of common stock.

Contact for Lode-Star Mining, Inc.

Mark Walmesley
President
Lode-Star Mining Inc.
phone: (775) 234-5443
e-mail: info@lode-starming.com

Forward Looking Statements

This news release may contain forward-looking statements that involve known and unknown risks, uncertainties and other factors which may cause LSMG's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements. Forward-looking statements reflect LSMG's current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, investors should not place undue reliance on these forward-looking statements. Except as required by law, LSMG assumes no obligation to update any forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future.

SOURCE: Lode-Star Mining Inc.

View source version on accesswire.com:
https://www.accesswire.com/680305/Sapir-Pharmaceuticals-Acquisition

FAQ

What assets did Lode-Star Mining acquire from Sapir Pharmaceuticals?

Lode-Star Mining acquired all assets associated with the proprietary stabilized formulation of the Epigallocatechin-gallate (EGCG) molecule.

What is the significance of the EGCG molecule acquired by LSMG?

The EGCG molecule is an antioxidant polyphenol known for various potential health benefits, which may be leveraged for further pharmaceutical development.

What is the value of the shares paid for the acquisition?

Lode-Star Mining paid 1,000,000 shares of Series A Preferred Stock valued at $1.00 per share for the acquisition.

What does the preferred stock structure entail for Sapir Pharmaceuticals?

Each preferred share can convert into 450 shares of common stock, providing Sapir significant voting power in Lode-Star Mining.

What risks are associated with the acquisition announced by LSMG?

The press release includes forward-looking statements that indicate potential risks and uncertainties affecting LSMG's future performance.