OTTAWA,
May 7, 2013 /CNW/ - PharmaGap Inc.
(TSXV: GAP) (OTC.BB: PHRGF) ("PharmaGap" or "the Company") stated
today that it has been notified of a cease trading order by the
Ontario Securities Commission due to its failure to file audited
annual financial statements and the associated management's
discussion and analysis for the year ended December 31, 2012, and its failure to file the
related certifications of these filings.
The Company does not have the financial resources needed to
complete these filings, and does not intend to contest the cease
trading order.
Forward Looking Statements
This news release contains certain statements that constitute
forward-looking statements as they relate to the Company and its
management. Forward-looking statements are not historical facts but
represent management's current expectations of future events, and
can be identified by words such as "believe", "expects", "will",
"intends", "plans", "projects", "anticipates", "estimates",
"continues", and similar expressions. Although management believes
that expectations represented in such forward-looking statements
are reasonable, there can be no assurance that they will prove to
be correct.
By their nature, forward-looking statements
include assumptions and are subject to inherent risks and
uncertainties that could cause actual future results, conditions,
actions or events to differ materially from those in the
forward-looking statements. If and when forward-looking statements
are set out in this news release, PharmaGap will also set out the
material risk factors or assumptions used to develop the
forward-looking statements. Except as expressly required by
applicable securities laws, the Company assumes no obligation to
update or revise any forward-looking statements. The future
outcomes that relate to forward-looking statements may be
influenced by many factors, including, but not limited to: results
of ongoing product testing and development; regulatory approvals
required to complete development of products; ability to
manufacture product at quality and scale for human use on an
economically sound basis; patient reimbursement by private and
public health insurance programs; unintended side effects of
products; competitive products; product liability; intellectual
property; reliance on key personnel; risks of future legal
proceedings; income tax matters; availability and terms of
financing; distribution of securities; effect of market interest
rates on price of securities, and potential dilution.
Note: Neither the TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release. No Securities
Commission or other regulatory authority having jurisdiction over
PharmaGap has approved or disapproved of the information contained
herein. This release contains forward looking statements that
may not occur or may change materially.
SOURCE PHARMAGAP INC.