Phoenix Life Sciences International Announces Significant Retirement of Convertible Debt and Elimination of Outstanding Prefe...
November 13 2018 - 11:56AM
InvestorsHub NewsWire
Phoenix Life Sciences International Announces Significant
Retirement of Convertible Debt and Elimination of Outstanding
Preferred Shares
Denver, CO -- November 13, 2018 --
InvestorsHub NewsWire -- Phoenix Life Sciences International
Limited (“Phoenix Life”) (OTC: PLSI), an international adaptive
healthcare solutions company, today announced that it has retired
additional convertible debt, positioning the company with no more
outstanding preferred shares or debt that is subject to
conversion.
As a part of the implementation of its fiscal policy aimed at
bringing shareholders value and forwarding the company's mission of
creating a global platform for plant-based pharmaceuticals,
including bringing medical cannabis products into the mainstream of
healthcare, the company has retired its outstanding Series C debt
and canceled its Series A and B.
“To operate under the umbrella company Phoenix Life Sciences
International, we executed the consolidation of various entities
and focused on eliminating as much expensive debt as possible,”
said Martin Tindall, Chief Executive Officer of Phoenix Life
Sciences International. “Many companies must deal with this issue
in later stages of their growth. We are confident that addressing
these types of fiscal issues ahead of reaching larger milestones in
the ramp up of our product offering is crucial in building a solid
fiscal structure for the open markets. We are proud that we were
able to achieve this now and focus our attention on our many global
healthcare initiatives.”
The company has recently announced multiple milestones in its
progress including:
Currently, Phoenix Life is working with the government of the
Republic of Vanuatu to target the treatment of diabetes with its
cannabis-derived medications. The company plans to utilize a
vertically-integrated supply chain model and to springboard
distribution throughout the Australian and South Pacific markets,
as well as to 30 or more of the countries that have approved
medical cannabis.
For more information about Phoenix Life, please
visit https://www.plsi.co/.
About Phoenix Life Sciences International
Limited
Phoenix Life Sciences International Limited is an adaptive global
healthcare solutions company. Our business is to advance research
and integrate programs and manufacturing of products that target
and treat diabetes, pain, cancer, and address psychological,
gastrointestinal, autoimmune, neurological and sleep disorders. We
strive to create partnerships and integrate these programs for
human health into communities worldwide as part of our Global
Health Initiative.
FORWARD-LOOKING STATEMENTS
Information contained in this press release regarding
Phoenix Life Sciences International, Limited and its subsidiaries,
(the “Companies”) may constitute forward-looking statements or
statements which may be deemed or construed to be forward-looking
statements. The words “plan”, “forecast”, “anticipates”,
“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 the Company’s 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 the
Company’s filings with the U.S. Securities and Exchange Commission.
All forward-looking statements attributable to the Companies herein
are expressly qualified in their entirety by the above-mentioned
cautionary statement. The Companies disclaim any obligation to
update forward-looking statements contained in this press release,
except as may be required by law.
FOOD AND DRUG ADMINISTRATION (FDA)
DISCLOSURE
These statements have not been evaluated by the FDA and
therefore the products sold by Phoenix Life Sciences International
are not available on U.S.
LEGAL DISCLOSURE
Phoenix Life Sciences International does not sell or distribute
any products in the United States that are in violation of the
United States Controlled Substances Act (US.CSA). This company does
not grow, sell, and distribute cannabis-based products in the
United States and is solely involved with the legal distribution of
medical cannabis-based products within certain international
markets outside of the United States.
Investor Contact:
Phone: 1.888.717.5655 or international +1.720.699.7222
E-mail: investor.relations@phoenixlife.co
Media Contact:
Kathryn Reinhardt
CMW Media
Kathryn@cmwmedia.com
1-858-283-4005
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