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Ljubljana, Slovenia, Nov. 08, 2019 (GLOBE NEWSWIRE) -- RAFARMA PHARMACEUTICALS INC. “OTC:(RAFA)” Rafarma Pharmaceuticals, Inc. announces that following meetings this past week in Bangkok and Khon Kaen, Thailand, it has signed a Letter of Intent to acquire a 49% interest in a Thailand company which is already positioned to be a leader in the Thailand cannabis industry. Following the completion of due diligence, Rafarma will finalize its acquisition of a 49% interest (the most allowed by a foreign investor) in a local Thailand herb producer. The acquisition target, which already has decades’ experience farming, synthesizing and marketing medicinal herbs native to Thailand, has also, according to company officers, secured the necessary approvals to begin immediate cultivation for the Thai medical community as well as CBD extraction, which will then be expanded to all areas of distribution and export as applicable Thailand cannabis regulation goes into effect taking production beyond the medical industry to health spa use, and beyond..
According to Rafarma CEO Vladimir Dolgolenko, “We are excited. Rafarma has inked a major foothold in the ready-to-explode Thailand cannabis industry. This is a major addition to our present cannabis cultivation in Slovenia. Following due diligence and a finalized contract, we look forward to showcasing our new Thai partnership to the industry—and leading the market in southeast Asia.”
Forward-Looking Statements: This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate,” or “continue”, or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risk, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with OTC Markets. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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