Akers Biosciences, Inc. Further Re. Strategic Update (7967H)
November 19 2018 - 8:00AM
UK Regulatory
TIDMAKR
RNS Number : 7967H
Akers Biosciences, Inc.
19 November 2018
November 19, 2018
Akers Biosciences, Inc.
Further Re. Strategic Update
Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), ("Akers
Bio" or the "Company"), a developer of rapid health information
technologies, has issued the following Press Release in the US
concurrently with this announcement. The information communicated
in this announcement is inside information for the purposes of
Article 7 of Regulation 596/2014. The Company is not subject to the
UK Takeover Code.
"Akers Biosciences Exploring Potential Business Combinations in
Alternative Sectors Including Cannabis Industry
THOROFARE, N.J., November 19, 2018 (GLOBE NEWSWIRE) - 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." "
Inquiries:
Akers Biosciences, Inc.
Howard R. Yeaton, Chief Executive Officer and Interim Chief
Financial Officer
Tel. +1 856 848 8698
finnCap (UK Nominated Adviser and Broker)
Ed Frisby / Scott Mathieson (Corporate Finance)
Tel. +44 (0)20 7220 0500
Vigo Communications (Global Public Relations)
Ben Simons / Fiona Henson
Tel. +44 (0)20 7390 0234
Email: akers@vigocomms.com
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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