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TORONTO, Jan. 21, 2025 (GLOBE NEWSWIRE) -- RAMM Pharma Corp. (including its wholly owned subsidiaries, the “Company” or "RAMM") (CSE: RAMM), is exploring strategic options for the potential sale of its subsidiary, Canapar Corp., and/or its industrial facility located in Ragusa, Italy.
This decision is part of RAMM's ongoing efforts to streamline operations and focus on its operating businesses while seeking potential growth opportunities. The potential sale is aimed at enhancing shareholder value and ensuring the long-term sustainability of the Company.
Company updates regarding the potential disposition of Canapar Corp. and/or the facility will be provided on an ongoing basis. There can be no assurance that a sale will take place.
About RAMM Pharma Corp.
RAMM Pharma is active in the field of cannabinoid pharmacology and product formulation for cannabis-based pharmaceuticals and other hemp-based products with a unique and diversified international production and sales platform. The Company operates an established pharmaceutical and medical product business in Uruguay that has developed several medically registered and approved plant-derived cannabinoid pharmaceutical products that have been authorized for sale and/or compassionate use in several Latin American countries. RAMM also has a pipeline of new products, including registered hemp-based nutrition and specialized veterinary products, in various stages of approval and development, which are produced at the company's state-of-the-art, good-manufacturing-practice-certified formulation facility in Montevideo, Uruguay.
In Europe, RAMM's vertically integrated operations are based in Ragusa, Italy and Elbląg, Poland (60 kilometres east of Gdańsk), and include large extraction and processing facilities (in the final stages of commissioning in the case of Canapar Corp. which is a material subsidiary of the Company). RAMM Pharma includes wholly owned subsidiaries Canapar Corp., HemPoland Sp. Z o.o., Medic Plast SA, Yurelan SA, Glediser SA and RAMM Pharma Holdings Corp.
Additional information about the Company is available at www.wearerammpharma.com.
For further information, please contact:
José Roldan
Interim CFO
+598 99 057 301
jroldan@rammpharma.com
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking statements relate, among other things, the Company’s strategies and objectives, and future expansion plans.