Primary Focus on Protecting and Commercializing Cannabis Patents
HICKSVILLE, N.Y., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Can B Corp. (OTCQB: CANB) ("Can B" or the "Company") today announced that it has implemented a reorganization in which a new holding company, Nascent Pharma Holdings, Inc., has become the publicly-traded parent of Can B and its subsidiaries. As a result of the reorganization, existing shares of Can B stock have been automatically converted, on a one-for-one basis, into shares of common stock of Nascent Pharma Holdings, Inc. The Board and executive officers of Can B will continue in the same roles at Nascent Pharma Holdings, Inc.
In March 2024, Can B announced that it had shifted its primary focus to protecting and commercializing the cannabis patents acquired by its 67% owned subsidiary, Nascent Pharma, LLC, in February 2024. Can B believes that the reorganization will enhance its ability to raise capital to fund future business opportunities, including partnerships. licensing agreements, and potential litigation funding to support Nascent's patent protection efforts.
The change in the name of the publicly traded name and the issuance of a new trading symbol is currently being processed by FINRA. Shares of the publicly traded company will continue to trade under the symbol "CANB" until the processing of the name change is complete and the new trading symbol is issued.
For more information about Nascent Pharma Holdings, Inc., please visit: https://nascentpharmaholdings.com.
About Can B Corp.
Can B Corp. (OTCQB: CANB), through Nascent Pharma Holdings, Inc., is a forward-thinking pharmaceutical Intellectual Property (IP) company, focused on maximizing the value of our cannabis patent portfolios. We own two issued patents registered with the US Patent and Trademark Office (USPTO) covering cannabis extracts and methods of preparation, emphasizing both composition and use.
Forward-Looking Statements
Forward-looking statements and risks and uncertainties discussed in this release contain forward-looking statements. The words "anticipate," "believe," "estimate," "may," "intend," "expect," and similar expressions identify such forward-looking statements. Expected, actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape or manner of our future financial condition or stock price. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of latest information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
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