SILVER SPRING, Md., March 16, 2012 /PRNewswire/ -- Sunpeaks Ventures, Inc. (OTCBB: SNPK) announces that it has initiated a review, through special outside counsel, in connection with the high volume of trading and price rise in its common shares on the OTC Bulletin Board.
The trading did not involve any shares held by current Sunpeaks officers, directors, insiders or employees, as Mr. Barch is the only insider who is a shareholder. All of Mr. Barch's shares are restricted from trading under applicable federal securities laws. Preliminary indications are that the recent trading activity was conducted by persons unknown to current management.
Sunpeaks welcomes that FINRA has commenced promptly an inquiry into the trading, and the Company and Mr. Barch are cooperating fully with the inquiry. FINRA is the largest independent regulator for all securities firms doing business in the United States, overseeing brokerage firms branch offices and registered securities representatives. Sunpeaks and Mr. Barch stand fully behind the accuracy and content of all press releases issued by the Company since February 29, 2012.
Sunpeaks also has become aware that internet newsletters have been making unsupportable claims, inappropriate comparisons and unjustifiable common stock performance projections about the Company. The Company has not, does not and will not communicate with publishers of internet newsletters about OTC Bulletin Board stocks. Moreover, neither the Company nor anyone associated with the Company has paid anyone to promote its securities. Sunpeaks refers all potential investors to a warning issued by the US Securities and Exchange Commission about potentially misleading conduct in the promotion of stocks via the internet. Consistent with the SEC's investor notice, Sunpeaks cautions potential investors who are interested in information about the Company to consider only information issued directly by the Company in filings with the SEC and press releases published by the Company.
The Company expressly disclaims any obligation in the future to address in public announcements or otherwise unusual patterns of trading in its common stock or unusual prices or price swings thereof.
About Sunpeaks Ventures, Inc.
Sunpeaks Ventures, Inc. and its wholly owned subsidiary Healthcare Distribution Specialists, LLC ("HDS"), is a nationally focused, value-added distributor of specialty drugs and over-the-counter ("OTC") branded multivitamins to the healthcare provider market. HDS also owns and markets Clotamin®, a specialized over-the-counter multivitamin product designed exclusively for use by patients also on Warfarin®, a popular blood thinner that has a long list of known adverse drug and food interactions.
For additional information, please visit www.sunpeaksventures.com.
Contact: Financial Insights 888-248-8491 or [email protected]
Safe Harbor Statement
Information in this document constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast", "anticipate", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause Sunpeaks Ventures' actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in Sunpeaks Ventures' filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Sunpeaks Ventures herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Sunpeaks Ventures disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.
SOURCE Sunpeaks Ventures, Inc.