NEW YORK, Sept. 25, 2019 /PRNewswire/ -- Spherix
Incorporated (Nasdaq: SPEX) President and CEO, Anthony Hayes, today released a letter to
shareholders outlining the Company's plans for its previously
disclosed dividend distribution.
Dear Fellow Shareholders,
I want to thank all of you who recently voted to approve the
Company's purchase of CBM BioPharma, Inc.'s assets. As previously
stated, Spherix is moving forward with the distribution of 100,000
shares of common stock of Hoth Therapeutics, Inc. to its
shareholders.
Spherix's Board of Directors will meet to set a record date for
the stock dividend. Our shareholders who are owners of record on
the record date will be paid the dividend distribution.
Shareholders who are not registered as of this date will not
receive the dividend distribution. Spherix's Board of
Directors will also establish the ratio, which will designate how
many shares of Hoth common stock each shareholder will receive for
every share of Spherix stock owned by such shareholder. Once
this amount is set, Spherix will publicly announce this
information, including the record date, and we will instruct Hoth's
transfer agent to distribute the dividend distribution to the
Spherix shareholders of record.
We understand the desire to receive the dividend and are working
diligently to effectuate the dividend distribution. However, since
we are issuing securities in another company, as opposed to cash,
it is naturally a slower process. I want to assure each of our
shareholders that we are working diligently on this matter and are
moving as expeditiously as practicable to complete the dividend
distribution.
Spherix continues to pursue additional strategic acquisitions to
enhance shareholder value. Our recent press releases on the options
we acquired from the University of
Kentucky and the University of
Maryland, Baltimore present exciting opportunities for the
Company. Upon the closing of the CBM asset purchase, and following
the dividend distribution, we will further update the market on the
status of our other strategic acquisitions.
Thank you for being a shareholder of Spherix.
Sincerely,
Anthony Hayes
About Spherix
Spherix Incorporated was launched in
1967 as a scientific research company. Spherix is committed to
advancing innovation by active participation in the patent
market. Spherix draws on portfolios of pioneering technology
patents to partner with and support product innovation.
Forward-Looking Statements
Certain statements in this
press release constitute "forward-looking statements" within the
meaning of the federal securities laws. Words such as "may,"
"might," "will," "should," "believe," "expect," "anticipate,"
"estimate," "continue," "predict," "forecast," "project," "plan,"
"intend" or similar expressions, or statements regarding intent,
belief, or current expectations, are forward-looking statements.
While the Company believes these forward-looking statements are
reasonable, undue reliance should not be placed on any such
forward-looking statements, which are based on information
available to us on the date of this release. These forward looking
statements are based upon current estimates and assumptions and are
subject to various risks and uncertainties, including without
limitation those set forth in the Company's filings with the
Securities and Exchange Commission (the "SEC"), not limited to Risk
Factors relating to its patent business contained therein. Thus,
actual results could be materially different. The Company expressly
disclaims any obligation to update or alter statements whether as a
result of new information, future events or otherwise, except as
required by law.
Contact:
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Investor
Relations:
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Hayden IR
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Brett Mass, Managing
Partner
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Phone: (646)
536-7331
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Email:
brett@haydenir.com
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www.haydenir.com
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Spherix:
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Phone:
212-745-1373
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Email:
investorrelations@spherix.com
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www.spherix.com
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SOURCE Spherix Incorporated