ReFormation Developing First-in-Class Therapeutic to Repair Vital Organs by Combining Cannabinoids and Re-engineering a Molecule, HMGB1
Vancouver, British Columbia--(Newsfile Corp. - January 16, 2019) - Resinco Capital Partners Inc. (CSE: RIN) (OTC Pink: RSCZF) (FSE: L6V1) (the "Company" or "Resinco") is pleased to announce that the Company has entered into a definitive agreement to acquire the remaining 51% of ReFormation Pharmaceuticals Corp, a medical cannabis company developing innovative, first-in-class therapies to repair vital organs and stem cells by combining cannabinoids and an endogenous trigger of repair. Resinco previously acquired 49% of ReFormation's outstanding shares on October 23, 2018.
Specifically, ReFormation Pharmaceuticals has identified a molecule (HMGB1) that primes the body's own stem cells to accelerate repair and regeneration following acute or chronic injury. Through the combination of this molecule and synthetic non-psychoactive cannabinoids they are developing a first-in-class therapy. ReFormation Pharmaceuticals is led by world-class scientist, Founder, CEO and Chief Science Officer, Professor Jagdeep Nanchahal, of the University of Oxford.
“Resinco is extremely pleased to finalize this further investment into ReFormation. ReFormation is a tremendously innovative company, with all the attributes to disrupt the medical marijuana pharmaceutical space,” says Alex Somjen, President & CEO of Resinco Capital Partners Inc. “The Global Stem Cells Market is estimated to grow to $9.03 Billion by 2023[1] and having a company that focuses on an innovative approach to repair vital organs will be a beneficial investment as we position ourselves as a global investment company with an emphasis in ‘Second generation’ medicinal marijuana companies.”
"This acquisition will provide ReFormation with additional resources to help solve major medical unmet needs," said Prof. Nanchahal, of ReFormation. "The repair of major tissues will be another benefit of properly researching and developing the medical activities of cannabis-based products."
Finder's fees will be payable in accordance with the policies of the Canadian Securities Exchange. Pursuant to the terms of the ReFormation Agreement, ReFormation will amalgamate with the Company's wholly owned subsidiary, 1189879 B.C. Ltd., in consideration for 29,000,000 common shares of the Company. Upon completion of the transaction, Resinco's investment in ReFormation will be held through a wholly-owned subsidiary of the Company.
About Resinco Capital Partners
Resinco Capital Partners is a global investment company which specializes in providing early stage financing to private and public companies as well as medical cannabis pharmaceutical companies. The Company engages in new, early stage investment opportunities in previously underdeveloped assets and obtaining significant positions in early stage investment opportunities that adequately reflect the risk profile.
ReFormation Pharmaceuticals Corp is a medical cannabis pharmaceutical Company headquartered in Toronto, ON, with its Research and Development team at the University of Oxford. The Company is focused on an innovative approach to repair vital organs by combining cannabinoids and an endogenous trigger of repair (HMGB1). ReFormation is based on disruptive technology which will deliver a first in-class therapeutic. The Company has identified a molecule that primes the body's own stem cells from a diverse range of tissues to accelerate repair and regeneration following acute or chronic injury. The Company's research pipeline will deliver further IP based on composition of matter and has a comprehensive work package of testing in animal models of diseases where no comparative treatment exists. ReFormation Pharmaceuticals is led by world class scientist, CEO and Chief Science Officer, Professor Jagdeep Nanchahal, of the University of Oxford.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com
RESINCO CAPITAL PARTNERS INC.:
Company Contact Mr. Alexander Somjen, CEO 647-362-8998
Media Contact Tim Gray, Account Director KCSA Strategic Communications Phone: 212.682.6300 Email: Resinco@KCSA.com
