Rafarma Closes Biocogency Merger
Rafarma Pharmaceuticals, Inc. (OTC: RAFA) has successfully merged with BIOCOGENCY LABORATORIES, which will enhance its financial position by consolidating operations with Slavich and associated companies in Spain, Ireland, and Cyprus. The merger includes plans to divest Slovenian assets as per the agreement. CEO Vladimir Dolgolenko expressed excitement over this new chapter, while Chairman Ilya Spurov emphasized efforts to optimize assets and enhance market capitalization and stock liquidity through new products and sales channels.
- Successful merger with BIOCOGENCY LABORATORIES expected to enhance financial stability.
- Consolidation with Slavich and related companies could lead to better market positioning.
- Strategic focus on optimizing assets to align with U.S. growth strategy.
- Divestiture of Slovenian assets may raise concerns regarding revenue stream stability.
Nicosia, Cyprus, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Rafarma Pharmaceuticals, Inc. OTC:(RAFA) is pleased to announce that it has closed the merger with BIOCOGENCY LABORATORIES. The new consolidated financials will include Slavich (http://www.slavich.ru), Slavich Trading House and related companies based in Spain, Ireland and Cyprus, with Kras Pharma (http://kraspharma.ru) and Bebig (http://en.bebig.ru/) being added in due course.
The company’s Slovenian assets will be divested, per the merger agreement.
Vladimir Dolgolenko, CEO of Rafarma, commented: “the new chapter has officially begun. We are very excited.”
When asked about next steps, new Chairman Ilya Spurov stated: “We are already moving promptly in optimizing Rafarma’s assets to conform our U.S. strategy. My main goal is to provide all the old shareholders as well as the new ones the maximum possible market capitalization and stock liquidity through development and introduction of new products and obtaining new sales channels in the nearest possible future.”
Forward-Looking Statements: 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.
For more information contact:
RAFARMA
(307) 429-2029
FAQ
What does the merger between Rafarma Pharmaceuticals and BIOCOGENCY LABORATORIES entail?
What are the financial implications of the merger for RAFA shareholders?
Are there any asset divestitures involved in the merger?
What future plans does Rafarma have post-merger?
