UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
20549
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FORM 8-K
___________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of report (date of earliest event reported):
November 2, 2016
OWC
PHARMACEUTICAL RESEARCH CORP.
(Exact Name of
Registrant as Specified in its Charter)
Commission File No.: 0-54856
Delaware
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98-0573566
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(State of Incorporation)
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(I.R.S. Employer Identification No.)
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22 Shacham Street. P.O.B.
8324 Petach Tikva, Israel
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4918103
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(Address of Principal Executive Offices)
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(ZIP Code)
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Registrant's
Telephone Number, including area code: 972 (0) 3-758-2657
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
¨
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
On November 2, 2016, OWC Pharmaceutical Research Corp. (the "Registrant")
accepted the resignation of Dr. Asaf Toker as Chief Science Officer, a
position to which he was appointed in October 2015. In Dr. Toker's letter of
resignation, a copy of which is attached as Exhibit 17.4 hereto, Dr. Toker
stated that "the reason for my resignation is to permit me to pursue other
business interests. I have had no disagreements with the Registrant's
operations, policies or practices."
Effective on November 2, 2016, and in connection with the acceptance of
Dr. Toker's resignation, the Registrant immediately appointed Dr. Yehuda
Baruch, as Chief Science Officer. Prior to his appointment, Dr. Baruch
served as Director of Research and Regulatory Affairs of the Registrant's
wholly-owned Israeli subsidiary, One World Cannabis Ltd. since January 2015.
Prior to joining the Registrant, Dr. Baruch served as Head of the Israeli
Ministry of Health's Medical Marijuana Program from 2003 through 2013,
directing its efforts on regulation, chaired the indication committee,
secured Helsinki Approvals for medical research, and managed regulation of
patient licensing and dosage. Dr. Baruch has extensive experience in
researching medical cannabis, most notably for its effect on PTSD. From 2004
until 2014, Dr. Baruch also served as CEO of Abarbanel Mental Health Center
in Bat Yam, Israel, prior to which, he was the director of Israel's Ministry
of Health medical management division, and director general of Be'er Yakov
Mental Health Center. He has taught at Ben-Gurion University of the Negev
and Tel Aviv University's Sackler School of Medicine. As Colonel in the
Israeli Defense Force's Medical Corps, Dr. Baruch was the director of the
Israeli field hospital in India following the 2001 earthquake and was the
director of the joint USA-Israel Mental Health Team operation in Sri Lanka
following the 2004 tsunami. Dr. Baruch was the director of the Health
Administration Division in the Israel Ministry of Health for five years from
1999 to 2004 and for the past 6 years has been the director of Abarbanel
Mental Health Center and lecturer at Ben Gurion and Bar Ilan Universities.
Dr. Yehuda Baruch has a MD and MHA both from Tel Aviv University.
As Chief Science Officer, Dr. Yehuda Baruch will continue to conduct and
oversee all clinical studies and work with Alon Sinai, Chief Operating
Officer of our Subsidiary, in negotiating and serving as liaison with our
collaboration partners at the major Israeli medical centers and hospitals.
Item 9.01 Financial Statements and Exhibits.
(a) The following documents are filed as exhibits to
this report on Form 8-K or incorporated by reference herein. Any document incorporated by
reference is identified by a parenthetical reference to the SEC filing that included such
document.
Exhibit
No.
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Description
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17.4
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Letter of
Resignation of Dr. Asaf Toker dated October 31, 2016, effective on November
2, 2016, filed herewith.
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OWC Pharmaceutical
Research Corp.
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By:
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/s/ Mordechai
Bignitz
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Name:
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Mordechai Bignitz
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Title:
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Chief Executive
Officer
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Date: November 7, 2016