Braxia Scientific Corp. Comments on Prospective Class Proceeding
Braxia Scientific Corp. (CSE: SHRM, OTCQB: SHRMF) announced that it has been served with a notice of civil claim for a proposed class action in British Columbia. The claim involves allegations related to the Company's disclosure concerning the value of four acquisitions made in 2020. The plaintiff seeks unspecified damages against the Company, its CEO, former officers, a shareholder, and underwriters from a private placement financing in June 2020. Braxia intends to vigorously defend its position.
- None.
- The company faces a proposed class action lawsuit, which could lead to financial liabilities.
- The claims involve significant allegations about the Company's acquisition disclosures, potentially impacting investor confidence.
TORONTO, May 3, 2021 /PRNewswire/ - Braxia Scientific Corp. (the "Company"), (CSE: SHRM) (FWB: 496) (OTCQB: SHRMF), (formerly Champignon Brands Inc.) announces that it was served with a notice of civil claim in a proposed class proceeding in British Columbia against the Company, its CEO, certain of its former officers, a shareholder, and underwriters which were engaged in connection with a private placement financing for the Company in June 2020. The Company has accepted service as of today's date. The claim is based on allegations relating to the Company's disclosure documents regarding the value of four acquisitions made by the Company in 2020 and related matters. The plaintiff is seeking an unspecified amount of damages for the proposed class. The Company intends to vigorously defend the claim.
About Braxia Scientific Corp.
Braxia Scientific is a research driven medical solutions company that aims to reduce the illness burden of brain-based mental disorders such as major depressive disorder among others. Braxia Scientific is primarily focused on (i) owning and operating multidisciplinary clinics providing treatment for mental health disorders and (ii) research activities related to discovering and commercializing novel drugs and delivery methods. The Company develops ketamine and psilocybin derivatives and other psychedelic products from its IP development platform. Braxia Scientific, through its wholly owned subsidiary, the Canadian Rapid Treatment Center of Excellence Inc., currently operates multidisciplinary community-based clinics offering rapid-onset treatments for depression located in Mississauga, Toronto, Ottawa, and Montreal.
ON BEHALF OF THE BOARD
"Dr. Roger S. McIntyre"
Dr. Roger S. McIntyre
Chairman & CEO
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SOURCE Braxia Scientific Corp.
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