Pivot Pharmaceuticals Inc. (OTCQB: PVOTF) (CSE: PVOT) wishes to announce that it has entered into a forty-five (45) day standstill period with a TSX listed company in order to explore a business opportunity of mutual interest and benefit, that may result in a co-research and development program, a product launch and/or commercialization agreement, or some other form of potential partnership (“Potential Transaction”).
The standstill period will end on February 6, 2018. During this time Pivot will not, directly or indirectly, conduct or enter negotiations or engage in any other discussions or communications with any third party regarding a Potential Transaction, any sale of all or substantially all of the assets of Pivot, or any merger, amalgamation, plan of arrangement or other business combination involving Pivot.
Dr. Patrick Frankham, Pivot’s CEO, states that “the Pivot team has been working tirelessly to secure a best-in-class partner to monetize our patented technologies and to bring our impressive pipeline of products to market in preparation for the legalization of cannabis in Canada and areas of the US and EU. During the past few months we have garnered interest from established companies in the nutraceutical and cannabis industries. Pivot’s management is committed to exploring all potential avenues to consummate a transaction with the company that we have a standstill agreement with as they share our vision of developing, manufacturing and commercializing premium science-based cannabis products to serve the health needs of consumers. On behalf of the Board of Directors of Pivot, I would like thank our shareholders for their continued support and wish them a healthy and prosperous 2018.”
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