VANCOUVER, British Columbia, April 30, 2015 /PRNewswire/ -- InMed Pharmaceuticals, Inc. ("InMed") (CSE: IN;OTCQB: IMLFF), a clinical stage biopharmaceutical company that specializes in developing safer, more effective cannabis-based therapies, today announced it is now eligible for book-entry delivery and depository services of The Depository Trust Company (the "DTC") to facilitate electronic settlement of transfers of its common shares in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors.
"With our shares now trading electronically, a standard in today's financial markets, the process of trading and exchanging our common stock by U.S investors is greatly simplified. Investors can instantly benefit from greater liquidity and faster execution speeds, lower costs and enhanced convenience," stated Craig Schneider, InMed President and CEO.
The DTC is a subsidiary of the Depository Trust & Clearing Corporation (DTCC), and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered "DTC eligible." The eligibility process enhances capital market efficiencies and reduces costs to the industry by enabling eligible securities to be distributed, settled and serviced through DTC's automated processes.
InMed is a clinical stage biopharmaceutical company that specializes in developing novel therapies through the research and development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems. InMed's proprietary platform technology, product pipeline and accelerated development pathway are the fundamental value drivers of the company.
For more information, visit www.inmedpharma.com
ON BEHALF OF THE BOARD
InMed Pharmaceuticals Inc.
President and Chief Executive Officer
E: [email protected]
Joshua Drumm, Ph.D. (Investors)
Amy Wheeler (Media)
Forward Looking Statements
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
Additionally, there are known and unknown risk factors which could cause InMed Pharmaceuticals actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and InMed Pharmaceuticals disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
These risks and uncertainties include, among others, the possibility that clinical trials will not be successful, or be completed, or confirm earlier clinical trial results, risks associated with obtaining funding from third parties, risks related to the timing and costs of clinical trials and the receipt of regulatory approvals
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE InMed Pharmaceuticals, Inc.