Akers Biosciences Exploring Potential Business Combinations in Alternative Sectors Including Cannabis Industry
November 19 2018 - 9:01AM
Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), (“Akers Bio”
or the "Company"), a developer of rapid health information
technologies, is pleased to provide an update on the process
announced on November 7, 2018 to evaluate strategic alternatives to
maximize shareholder value.
The Company can now confirm that this process
will consider a range of potential strategic alternatives
including, but not limited to, business combinations in alternative
sectors including cannabis related industries. Members of the
Company’s board have recently met with a number of companies in
cannabis related industries at the MJBizCon conference in Las
Vegas, Nevada. Furthermore, the Company has engaged the firm of
Feuerstein Kulick LLP as a legal advisor as the board continues its
evaluation of opportunities within the cannabis space.
There can be no assurance that the exploration
of strategic alternatives will result in any transaction or other
alternative.
Howard R. Yeaton, Chief Executive
Officer, commented:
“The Board of Directors and management of the
Company are considering a number of exciting opportunities for
business combinations including within the cannabis industry in
which we believe opportunities exist for significant value
creation. At the same time, we remain focused on our current
business operations and customers and look forward to reporting
further developments when appropriate.”
About Akers Biosciences,
Inc.
Akers Bio develops, manufactures, and supplies
rapid screening and testing products designed to deliver quicker
and more cost-effective healthcare information to healthcare
providers and consumers. The Company has advanced the science of
diagnostics while responding to major shifts in healthcare through
the development of several proprietary platform technologies. The
Company's state-of-the-art rapid diagnostic assays can be performed
virtually anywhere in minutes when time is of the essence. The
Company has aligned with major healthcare companies and high volume
medical product distributors to maximize product offerings, and to
be a major worldwide competitor in diagnostics.
Additional information on the Company and its
products can be found at www.akersbio.com.
Cautionary Note Regarding Forward-Looking
Statements
Statements contained herein that are not based
upon current or historical fact are forward-looking in nature and
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements reflect the Company's expectations about
its future operating results, performance and opportunities that
involve substantial risks and uncertainties. Such statements may
include, without limitation, statements with respect to the
Company’s plans, compliance with the requirements of various
regulatory agencies and certain NASDAQ Stock Market listing rules,
objectives, projections, expectations and intentions and other
statements identified by words such as “projects,” “may,” “will,”
“could,” “would,” “should,” “believes,” “expects,” “anticipates,”
“estimates,” “intends,” “plans,” “potential” or similar
expressions, as they relate to the Company, its subsidiaries, or
its management. These statements are based upon the current beliefs
and expectations of the Company’s management and are subject to
significant risks and uncertainties, including those detailed in
the Company’s filings with the Securities and Exchange Commission.
Actual results, performance, prospects, and opportunities to may
differ materially from those set forth in, or implied by, the
forward-looking statements. These forward-looking statements
involve certain risks and uncertainties that are subject to change
based on various factors (many of which are beyond the Company’s
control). The Company undertakes no obligation to publicly update
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
applicable law.
Inquiries:
Akers Biosciences, Inc.Howard R. Yeaton, Chief Executive Officer
and Interim Chief Financial OfficerTel. +1 856 848 8698
Vigo Communications (Global Public Relations)Ben Simons / Fiona
HensonTel. +44 (0)20 7390 0234Email: akers@vigocomms.com
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