OWC Pharmaceutical Research Corp. Announces Special Meeting of Stockholders

PETACH TIKVA, Israel, July 29, 2020 /PRNewswire/ -- OWC Pharmaceutical Research Corp. (OTC: OWCP) ("OWC"), announced that it will be holding a special meeting of stockholders to vote on a reverse stock split (the "Reverse Split") at a ratio between 1:10 and 1:20 as outlined in the company's recently filed proxy statement.  The meeting is tentatively scheduled for August 25, 2020.

Mr. Ziv Turner, Chairman and CEO comments: "Through the  company's unique and innovative products, which are supported by clinical studies and results, OWC is poised to drive significant changes in the MMJ market. Our top priorities now are to generate revenues by selling those products and seeking strategic partners or transactions with participants in the US cannabis market - currently the largest MMJ market in the world. In order to achieve these goals we need to raise funds from new investors. With no authorized share capital available, the Reverse Split is a critical move for us."

"We have developed a roadmap for the next two years and will provide a description in the near future", added Turner. "Without approval of the Reverse Split by our shareholders, we will likely be unable to secure the needed investment to execute on the roadmap."

Turner continues: "On March 31, 2020, the USPTO issued a patent for our Cannabis-Based Extracts and Topical Formulations for use in Skin Disorders, no. US 10.603.301 B2. This is the only cannabis-infused and cannabis-based topical known to us that is the subject of an issued patent by the USPTO and successfully completed a clinical Safety research in Israel at the Sheba Medical Center. I recently  rejoined the company to seek to advance my strong, long held belief in medical grade cannabis based solutions for patients. With OWC's clinical results and IP assets, I truly believe that now is the right time for us to move forward into generating revenues by selling our patented products in Israel and internationally, while looking for a good strategic alliance for vertical integration." 

The company further announced that, in light of the importance of good communications, in concert with the aforementioned initiatives,  it engaged Stanley Wunderlich CEO, of New York-based Consulting for Strategic Growth1, Ltd " and Launchpad IR LLC to provide IR/PR representation. Mr.  Wunderlich has expertise and a long track record of success in working restructuring clients, many of which can be found under case studies on www.launchpadir.net

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, filing patent applications, product development, and business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in OWC Pharmaceutical Research Corp. (OTCQB: OWCP) periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact Information: 
Mr. Ziv Turner  
Chairman & CEO 
[email protected]  
+1 940 304 2224  
+972 54 550 0450 (for WhatsApp users)

SOURCE OWC Pharmaceutical Research Corp.