XPhyto Provides Updated Comments on Promotional and Marketing Activity
XPhyto Therapeutics Corp. (CSE:XPHY)(OTCQB:XPHYF)(FSE:4XT) has issued a statement addressing recent promotional activities, particularly a newsletter from WallStreetAlerts. The company acknowledges its previous non-compliance with CSE disclosure requirements regarding third-party promotional contracts but has now submitted the necessary forms. To ensure transparency, XPhyto plans to adopt a public disclosure policy for promotional communications, requiring board and legal approval. Over the past year, XPhyto paid approximately $4.94 million to third-party providers. The company clarifies that its COVID-19 tests are not yet approved and do not claim to cure the virus.
- XPhyto has submitted the required Form 10 Notices of Proposed Significant Transactions to the CSE.
- The company plans to implement a public disclosure policy to ensure transparency in promotional activities.
- XPhyto did not previously comply with CSE requirements for disclosing third-party promotional contracts.
- The COVID-19 related test products are not yet approved, posing regulatory risks.
VANCOUVER, BC / ACCESSWIRE / February 26, 2021 / XPhyto Therapeutics Corp. (CSE:XPHY)(OTCQB:XPHYF)(FSE:4XT) ("XPhyto" or the "Company") at the request of IIROC and the Canadian Securities Exchange (the "CSE") is providing additional comments to its news release and list of third-party providers dated January 22, 2021 with regards to recent promotional and investor relations activity ("Promotional Activity") provided by said third-parties, in particular a newsletter published by WallStreetAlerts, on behalf of the Company.
The Company reminds investors that the best source for full disclosure about the company is the company itself, SEDAR or CSE profile pages for regulatory filings and news releases. The Company acknowledges that prior to the date of this news release, XPhyto did not comply with the CSE requirements to complete and post Form 10 Notices of Proposed Significant Transactions disclosing its contracts with the third-party providers. The Company has now completed and posted the required forms to the CSE and will continue to do so in the future.
The Company will adopt a public disclosure policy to establish and formalize processes for approval of any communications that could be considered Promotional Activity conducted on behalf of the Company in order to ensure that such communications are not false, inaccurate, overly promotional, or misleading and include adequate and accurate information for investors to assess risk and make informed investment decisions. Under the public disclosure policy, all communications to be circulated by a person engaged in Promotional Activities will require approval by a committee of the Company's board of directors and legal advisors prior to publication.
The Company has attached to this news release (Schedule A) a list of the third parties who provided Promotional Activities on behalf of the Company over the past twelve months. Over such time period, the Company has provided compensation in the amount of
The Company does not make any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 pandemic. Further, its COVID-19 related test products are not yet approved and are still subject to risks associated with the regulatory approval process.
About XPhyto Therapeutics Corp.
XPhyto Therapeutics Corp. is a bioscience accelerator focused on next-generation drug delivery, diagnostic, and new active pharmaceutical ingredient investment opportunities, including: precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; and standardization of emerging active pharmaceutical ingredients for neurological applications, including psychedelic compounds and cannabinoids. The Company has research and development operations in North America and Europe, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets.
XPhyto Therapeutics Corp.
"Hugh Rogers"
Hugh Rogers, CEO and Director
Investor Inquiries
Knox Henderson
T: 604-551-2360
E: info@xphyto.com
Media Inquiries
MC Services AG
Julia Hofmann, Andreas Jungfer
T: +49 89 210 228 0
E: xphyto@mc-services.eu
Cautionary Statement Regarding "Forward-Looking" Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SCHEDULE A
Third Party Provider within last 12 months | Date First engaged | Currently Active |
Accesswire Canada Ltd. | Sept-19 | Y |
Agora Internet Relations Corp. | Dec-20 | Y |
BullVestor Medien GmbH | Mar-20 | N |
Buyins.com | Oct-20 | N |
Cayo Ventures GmbH | Jul-19 | Y |
Digitonic Ltd. | Mar-20 | N |
Emerging Markets LLC | Feb-21 | Y |
Equity Guru Media Inc. | Jun-20 | Y |
ex-cubed GmbH | May-19 | Y |
Inside International Media GmbH | Mar-20 | N |
InvestorIntel Corp. | Aug-20 | N |
InvestorBrandNetwork | Jan-21 | N |
Investing Channel, Inc. | Jan-21 | Y |
IR-World.com Finanzkommuikation GmbH | Apr-19 | Y |
JG Business Management LLC | Sep-20 | Y |
Knox Communications Inc. | Jul-20 | Y |
Link Media | Feb-21 | N |
Loud Media & Awareness GmbH | Mar-20 | N |
M. Davis & Associates Capital Inc. | Apr-19 | Y |
MC Services AG | Aug-20 | Y |
Newsfile Corp. | Aug-19 | N |
Octagon Media Inc. | Aug-20 | N |
Pan European Networks Ltd. | Sep-19 | Y |
Proactive Investors North America Inc. | Apr-20 | Y |
Think Ink Marketing and Data Email Services LLC | May-20 | N |
Winning Media Inc. | Sep-19 | N |
Xolutis GmbH | Jan-20 | N |
Zacks Investment Research, Inc. | Jan-21 | N |
SOURCE: XPhyto Therapeutics Corp.
View source version on accesswire.com:
https://www.accesswire.com/632480/XPhyto-Provides-Updated-Comments-on-Promotional-and-Marketing-Activity
FAQ
What is XPhyto Therapeutics Corp.'s response to investor relations activity as of February 26, 2021?
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