JACKSON CENTER, PA / ACCESSWIRE / May 5, 2020 / Premier Biomedical, Inc. (OTC PINK:BIEI) President and CEO, William A. Hartman stated, "As a follow up to our press release dated April 6, 2020, Premier Biomedical has decided not to increase our authorized shares at this time as it is not in the best interests of our shareholders. Premier Biomedical previously announced that we had cancelled a reverse split, so it made sense not to go ahead with the increase in authorized shares while we await either non-convertible or fixed-price convertible preferred funding. Negotiations are in-process with two funding sources as part of our overall strategy to recapitalize the company and to eliminate all toxic debt on Premier Biomedical's balance sheet."
Hartman continued, "Premier Biomedical has outstanding intellectual properties, but we believe that we have been held back by toxic debt. We are resolved to correct that problem immediately. We anticipate having an update on further major corporate developments in the very near future."
For more information please contact:
William A. Hartman
President and CEO
Premier Biomedical Inc.
(724) 633-7033
w.hartman@premierbiomedical.com
http://www.premierbiomedical.com
About Premier Biomedical, Inc.
Premier Biomedical, Inc. (OTC PINK: BIEI) is a research-based publicly traded company that intends to discover and develop medical treatments for a wide range of diseases in humans. Premier has obtained, via exclusive license agreements, the technology behind three granted US Patents, multiple pending provisional patents. Founded in 2010, Premier has partnered with the University of Texas at El Paso (UTEP). In 2016, the company began developing a line of all-natural pain relief products which they began selling in early 2017 to address the rising opioid addiction problem. The company's R&D efforts are centered in El Paso, TX, and their business offices are in Western Pennsylvania. The Company is a fully-reporting issuer whose common stock trades on the OTC marketplace maintained by OTC Markets Group, Inc. under the ticker symbol "BIEI." For more information please visit our websites: http://www.premierbiomedical.com and http://www.painreliefmeds.com
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Premier Biomedical, Inc. cautions that statements, and assumptions made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates made by management. Actual results could differ materially from current projections or implied results. Premier Biomedical, Inc. undertakes no obligation to revise these statements following the date of this news release.
SOURCE: Premier Biomedical, Inc.
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https://www.accesswire.com/588407/Premier-Biomedical-Rescinds-Previously-Planned-Increase-in-Authorized-Shares
