EastGate Biotech Announces that It Has Reached a Definitive Settlement Agreement with Northbridge Financial Inc.
The Share Reserve with Transfer Agent has been cancelled and all remaining shares have been returned to EastGate Biotech.
WEST CALDWELL, N.J. and TORONTO, March 22, 2018 (Newswire.com) - EastGate Biotech Corp. (OTC PINK: ETBI), a pharmaceutical company that focuses on innovative technological developments specifically in insulin drug delivery for the treatment of type 2 diabetes, announced today that it has reached a definitive settlement agreement with Northbridge Financial. Last year EastGate entered into a series of 3(a)(10) exemptions with Northbridge Financial detailed in 2 Form 8-K filings. Northbridge Financial released all remaining debt from the Settlement Agreement dated May 9, 2017, between Northbridge Financial Inc. and EastGate Biotech Corp. As a result, Northbridge Financial has released all remaining shares in the reserve with the EastGate’s Transfer Agent back to the company.
“We are pleased that we were able to reach a settlement with Northbridge Financial,” said Anna Gluskin, CEO of EastGate. “We are committed to pursuing non-dilutive and non-toxic financing and are taking the steps to clear the path to collaborate and engage with other financial opportunities to pursue our development objectives,” concluded Gluskin.
About EastGate Biotech
EastGate Biotech focuses on innovative technological developments and produces and distributes innovative drug compounds and healthy nutraceuticals that are based on natural therapies absorbed by the body. We utilize advanced nanotechnologies and alternative delivery systems that take difficult to deliver compounds and deliver them using our nanotechnology platform which ultimately increase the bioavailability to the body. Using our methods of delivery provides healthy alternatives to conventional pharmaceuticals that all-too-often create dangerous side-effects and unexpected consequences for those trying to attain and maintain a healthy lifestyle. EastGate’s wholly owned subsidiary, Omni Surgery and Anti-Aging Centre, is the first of many surgery centers to come under the Omni umbrella as we plan to roll up existing business under the Omni brand and expand our footprint globally.
Cautionary statement on forward-looking information
All statements, other than statements of historical fact, contained or incorporated by reference in this news release constitute "forward-looking information" or "forward-looking statements" within the meaning of certain securities laws, including the provisions for "safe harbour" under the United States Private Securities Litigation Reform Act of 1995 and are based on expectations, estimates and projections as of the date of this news release.
The words "anticipates", "plans", "expects", "indicate", "intend", "scheduled", "estimates", "forecasts", "focus", "guidance", "initiative", "model", "methodology", "outlook", "potential", "projected", "pursue", "strategy", "study", "targets", or "believes", or variations of or similar such words and phrases or statements that certain actions, events or results "may", "could", "would", or "should", "might", or "way forward", "will be taken", "will occur" or "will be achieved" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies. The risks, estimates, models and assumptions contained or incorporated by reference in this release, include those identified from time to time in the reports filed by EastGate with the SEC, which should be considered together with any forward-looking statement. EastGate undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: EastGate Biotech Corp.