ST. MARYS, W. Va.--(BUSINESS WIRE)--ProtoKinetix, Incorporated (OTC:PKTX) (www.protokinetix.com) (the “Company” or “ProtoKinetix”) announces that it has entered into an agreement with Clarence E. Smith, the Company’s President and CEO, pursuant to which Mr. Smith has agreed to purchase 15,000,000 shares of common stock of the Company at a price of $0.025 per share, representing aggregate total proceeds of $375,000, a portion of which had been advanced by Mr. Smith previously to the Company to pay Company expenses.
As of March 15, 2015, the Company will close its office in West Vancouver, British Columbia and transfer all operations to its West Virginia office. Any public relations questions may be directed to Blair Henderson at 604-356-3816. For any investor relations questions, please contact the Company at 304-299-5070.
ProtoKinetix is a molecular biotechnology company that has developed and patented a family of hyper stable, potent glycopeptides (AAGP™) that dramatically enhance the therapeutic results and reduce the cost of stem cell medicine. Due to the anti-inflammatory effect of AAGP™ molecules, the Company is currently targeting the direct treatment of diseases that have a major inflammatory component.
ON BEHALF OF THE BOARD OF DIRECTORS
Clarence E. Smith
President and Chief Executive Officer
Cautionary Statement Regarding Forward-Looking Information
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law, including statements regarding the potential treatments for which the Company's AAGPTM may be applied. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. More detailed information about potential factors that could affect financial results is included in the documents filed by the Company from time to time with the United States Securities Commission and with securities regulatory authorities in Canadian on SEDAR.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Some information included in this press release contains statements that are forward-looking. Such forward-looking information involves significant risks and uncertainties that could affect anticipated results in the future and, accordingly, these results may differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. For a description of additional risks and uncertainties, please refer to the Company’s filings with the Securities and Exchange Commission.