RAMM Pharma Corp. Announces Intention to Commence Normal Course Issuer Bid
Rhea-AI Summary
RAMM Pharma Corp. (CSE: RAMM) announced its intention to initiate a normal course issuer bid (NCIB) to repurchase up to 5% of its outstanding common shares. The NCIB is set to commence around July 12, 2021, and will last for one year. Purchases will occur on the Canadian Securities Exchange at market prices, with shares subsequently canceled. This move aims to address market valuation concerns regarding the company's shares.
RAMM is focused on cannabinoid pharmacology, operating in Uruguay and Italy, developing medically registered cannabinoid products and wellness items.
Positive
- Intention to buy back up to 5% of outstanding shares could enhance shareholder value.
- Established operations in Uruguay with several medically registered cannabinoid products.
- Diversified product pipeline includes cannabis-based nutrition and veterinary products.
Negative
- Dependence on market price perception, which may not reflect actual company value.
- Potential risks associated with cannabis regulations and market fluctuations.
News Market Reaction – RAMMF
On the day this news was published, RAMMF declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
TORONTO, July 06, 2021 (GLOBE NEWSWIRE) -- RAMM Pharma Corp. (including its wholly owned subsidiaries, the “Company” or "RAMM") (CSE: RAMM), announces its intention to commence a normal course issuer bid (the “NCIB”), under which it may purchase up to
The NCIB may commence on or about July 12, 2021 and shall expire on the 12-month anniversary of the effective date of the NCIB. All Common Shares purchased under the NCIB will be purchased on the open market through the facilities of the Canadian Securities Exchange (the “CSE”). The Company has appointed Clarus Securities Inc. to co-ordinate and facilitate the NCIB purchases. All purchases made under the NCIB will be at the prevailing market price for such Common Shares on the CSE at the time of purchase, and shall be duly cancelled and returned to treasury. The Company has implemented the NCIB should it view the market price for its Common Shares to not adequately reflect the value of the Company.
About RAMM Pharma Corp.
RAMM is a leader in the field of cannabinoid pharmacology and product formulation for cannabis-based pharmaceuticals and other cannabis-based products with a unique and diversified international production and sales platform. The Company operates an established pharmaceutical and medical product business in Uruguay which has developed several medically registered and approved plant-derived cannabinoid pharmaceutical products that have been authorized for sale and/or compassionate use in several Latin American countries. RAMM also has a pipeline of new products including registered cannabis-based nutrition and specialized veterinary products in various stages of approval and development, produced in the Company’s state of the art Good Manufacturing Practice (GMP) certified cannabis formulation facility in Montevideo, Uruguay.
In Europe, RAMM’s vertically integrated operations are based in Ragusa, Italy and include a hemp cultivation platform, a large extraction and processing facility, in the final stages of commissioning, to produce an extensive line of CBD Formulations, APIs, wellness products and two retail stores dedicated to its Marishanti cosmetic line.
RAMM Pharma Corp. includes its wholly owned subsidiaries Canapar Corp., Medic Plast SA, Yurelan SA, Glediser SA and RAMM Pharma Holdings Corp.
Additional information about the Company is available at www.rammpharma.com.
For further information, please contact:
Guillermo Delmonte
Chief Operating Officer
+598 92 223 131
info@rammpharma.com
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking statements relate, among other things, the Company’s strategies and objectives, and future expansion plans.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: future growth potential of the Company; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Uruguayan, Latin American, and international medical and recreational cannabis markets and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of cannabis and cannabis related products in Uruguay or internationally; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
FAQ
What is RAMM Pharma's normal course issuer bid (NCIB) plan?
How long will the NCIB for RAMM Pharma last?
What percentage of shares can RAMM Pharma buy back under the NCIB?
Where will RAMM Pharma's share repurchases take place?
What is RAMM Pharma's focus in the cannabis industry?
