TNI BioTech, Inc., Announces an Extension to the Record Date of its wholly owned subsidiary, Cytocom Inc., and Dividend now Set for September 30, 2014
ORLANDO, Fla., Aug. 14, 2014 /PRNewswire/ -- TNI BioTech, Inc. (OTC-BB: TNIB) ("we" or the "Company") a biotechnology company pioneering the manufacturing and marketing of innovative therapies for autoimmune diseases in emerging nations, announced today that the Company is extending the record date of the dividend of Cytocom Inc., shares to all shareholders of the Company to September 30th, 2014.
The Company will pay out a dividend of one share of Cytocom Inc. for one share of the Company. Our shareholders as of the record date will continue to own shares in the Company in the same form and in the same quantity as of the record date.
To receive the Cytocom Inc. share dividend, all shareholders must surrender all existing share certificates to the Company's transfer agent. There is no electronic transfer so shareholders must obtain certificates of the Company and turn them into our transfer agent. If a shareholder turns its share certificate(s) into our transfer agent, our transfer agent will then send to such shareholder a Cytocom Inc. Certificate showing the ownership of Cytocom Inc. shares and will return the Company certificate(s) showing the ownership of Company shares owned on the record date.
Reasons for the extension are as follows:
- We have received requests from some US stockholders and Carricklee Consulting Ltd., on behalf of a number of major shareholders, to further extend the date of record of the Cytocom Inc. share dividend until the 30th of September 2014 (FINAL EXTENSION). This will enable any remaining shareholders who have not had sufficient time to exercise their warrants in full. This group of shareholders have already exercised a significant number of their warrants at an exercise price of $0.50 per share and have committed to continue exercising their warrants up to the 30th of September 2014.
- Stock settlement dates take up to 3 days; thus a shareholder's name may not be on the Non-Objecting Beneficial Owners List in time. This has confused a lot of shareholders.
- From August 3 to August 5, 2014, the Company's executives met with Mr. Ye Jige, Chairman and CEO of Hubei Qianjiang Pharmaceutical Co., Ltd. ("Hubei) to discuss and negotiate three agreements between the Company and Hubei. Also present were scientific and financial advisors to the Company who are not officers and directors of the Company.
One agreement between the Company and Hubei has been executed and an 8-K filed and two other agreements are being translated into Chinese and are subject to Board Approval by both companies prior to execution. Each of these agreements holds significance to our future and its long range plans and disclosure will be made by appropriate Securities and Exchange Commission filings on form 8-K; however, since non-public information is available to persons other than our officers or directors and to preclude the possibility of individuals trading on such information or disseminating it to others, we have decided to extend the record date of the Cytocom Inc., stock dividend from August 15, 2014 until September 30, 2014. This will allow the above-described information on which Company investment decisions might be made available to all shareholders and potential shareholders of the Company and Cytocom Inc.
- The Ex-Dividend date will be the next trading day, October 1st, 2014.
- All shareholders are encouraged to have their shares settled before September 30, 2014, which means purchasing the stock on or before September 25, 2014.
About TNI BioTech, Inc.
We are a biotechnology company working to combat chronic, life-threatening diseases through the activation and modulation of the body's immune system using our patented immunotherapy. Our products and immunotherapy technologies are designed to harness the power of the immune system to improve the treatment of cancer, infections such as HIV/AIDS, chronic inflammatory diseases, and autoimmune diseases.
Our proprietary technology, therapies and patents include the treatment of a wide range of cancers. Our most advanced clinical programs involve immunotherapy with met-enkephalin ("MENK") (sometimes referred to as opioid growth factor) and our Low Dose Naltrexone product ("LDN") or Lodonal™, which have been shown to stimulate the immune system even in patients with advanced cancer.
Even though Management considers any condition that results in altered-immune response a target for investigation, we will most likely pursue additional investigations for MENK and LDN as valuable candidates in the treatment of autoimmune states such as rheumatoid arthritis and multiple sclerosis; as an adjunct in cancer patients undergoing chemotherapy, radiation treatments or surgery; and as a complement to antibiotics in the treatment of a variety of infectious diseases, including patients with HIV/AIDS, in combination with retroviral drug therapy.
About Airmed Biopharma Limited
Airmed Biopharma Limited, a wholly owned Irish company, is the Company's pharmaceutical sales division and is responsible for servicing sales orders for Lodonal™ in countries where the Company has received sales approval in Latin America and Africa.
About Cytocom, Inc.
Cytocom, Inc. is a biotechnology company that will initially focus on developing LDN (Lodonal™) and MENK in the investigation of unmet medical needs in the areas of oncological and inflammatory diseases.
Carricklee Consulting Ltd.
Carricklee Consulting Ltd. is a corporate advisory firm set up by Paul Sweeney a co- founder and former director of COVE ENERGY (Cov) Aim market London. Cove Energy became one of the largest corporate stories in London in 2012 when it was sold for 1.9 billion dollars after it grew from a small market capitalization of 5 million dollars in 2006. The vision of Carricklee is to assist companies in replicating this formula and module of success in companies they firmly believe can become the next game changers in their own specific market.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This press release and the statements of representatives and partners of the Company and its subsidiaries related thereto include various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. Statements containing expressions such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" used in the Company's press releases and in the Company's filings with the Securities and Exchange Commission as well as Disclosure Statements and Reports filed with the Over The Counter Markets through the OTC Disclosure and News Service are intended to identify forward-looking statements. All forward-looking statements involve assumptions and significant risks and uncertainties. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release, and thus readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. Actual results may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly release any revisions to such forward-looking statements to reflect events or circumstances after the date hereof.
For further information, please see http://www.tnibiotech.com
Contact: Dennis S. Dobson, 203-258-0159
SOURCE TNI BioTech, Inc.