SUNSHINE
BIOPHARMA PAYS
OFF CONVERTIBLE
NOTES IN
CASH PREVENTING
NEW SHARES
FROM HITTING THE MARKET
Montreal, Quebec, Canada --
December 3, 2020 -- InvestorsHub NewsWire
-- Sunshine Biopharma Inc.
(OTC
PINK: "SBFM"), a pharmaceutical company
focused on the research, development and commercialization
of oncology
and antiviral drugs, today
announced that it has paid off just over $100,000
worth of convertible notes associated with the
Company. Our
Board of Directors deemed this action to be a
priority for the Company in order to mitigate dilutive
conversions and maximize shareholder value.
Sunshine
Biopharma's CFO, Camille Sebaaly
stated, "We are pleased to have paid off
this convertible debt within
the required
time frame
and will
continue to work towards our overall goal of growth from the operational
side of the business." We always have our shareholders
best interests in mind," he added.
About
Sunshine Biopharma's
Coronavirus Treatment
Severe Acute Respiratory
Syndrome-Coronavirus-2 (SARS-CoV-2) is the causative agent
of the ongoing COVID-19 pandemic that has claimed the
lives of over 1.4 million people worldwide
since it first
appeared in December 2019. There are currently no drugs
that can effectively arrest replication of the virus in people who
have contracted the illness. On May 22, 2020, Sunshine Biopharma filed a
provisional patent application for several molecules which were
designed by computer-aided modeling to inhibit the Coronavirus
proteases, thus shutting down the ability of the virus to
multiply. Sunshine Biopharma
has since
completed the
synthesis of four such molecules and identified a lead compound,
SBFM-PL4. In collaboration with the University of
Georgia, College of
Pharmacy,
the Company is currently
advancing the
development of SBFM-PL4 through the in vitro testing stage to be followed by mice
studies before entering clinical trials on COVID-19
patients.
About
Sunshine Biopharma
In addition,
to working on the
development of a treatment for COVID-19, Sunshine Biopharma is engaged in the
development Adva-27a, a unique anticancer compound. Tests
conducted to
date have
demonstrated the effectiveness of Adva-27a at destroying Multidrug
Resistant Cancer Cells, including Pancreatic Cancer
cells, Small-Cell Lung Cancer cells, Breast Cancer cells, and
Uterine Sarcoma cells. Clinical trials for Pancreatic Cancer
indication are planned to be conducted at McGill
University's Jewish General Hospital in Montreal, Canada.
Sunshine Biopharma is owner of all patents and intellectual
property pertaining to Adva-27a.
Safe Harbor
Forward-Looking Statements
This
press release may contain forward looking statements which are
based on current expectations, forecasts, and assumptions that
involve risks as well as uncertainties that could cause actual
outcomes and results to differ materially from those anticipated or
expected, including statements related to the amount and timing of
expected revenues statements related to our financial performance,
expected income, distributions, and future growth for upcoming
quarterly and annual periods. These risks and uncertainties are
further defined in filings and reports by the Company with the U.S.
Securities and Exchange Commission (SEC).
Actual
results and the timing of certain events could differ materially
from those projected in or contemplated by the forward-looking
statements due to a number of factors detailed from time to time in
our filings with the SEC. Among other matters, the Company may not
be able to sustain growth or achieve profitability based upon many
factors including but not limited to general stock market
conditions. Reference is hereby made to cautionary statements set
forth in the Company's most recent SEC filings. We have incurred
and will continue to incur significant expenses in our expansion of
our existing as well as new service lines noting there is no
assurance that we will generate enough revenues to offset those
costs in both the near and long term.
Additional
service offerings may expose us to additional legal and regulatory
costs and unknown exposure(s) based upon the various geopolitical
locations we will be providing services in, the impact of which
cannot be predicted at this time.
For
Additional Information Contact:
Camille Sebaaly, CFO
Sunshine Biopharma
Inc.
Direct Line:
514-814-0464
camille.sebaaly@sunshinebiopharma.com
www.sunshinebiopharma.com