Business
Bionik Laboratories Issues Statement Regarding Recent Trading Activity
Bionik Laboratories Issues Statement Regarding Recent Trading Activity.
About this update from Bionik Laboratories Corp.
[{"type":"text","content":"\n\n TORONTO, March 10, 2017 (GLOBE NEWSWIRE) -- Bionik Laboratories (OTCQB:BNKL) announced today that it has been made aware of and requested by the OTC Markets Group, Inc. to comment on recent trading and promotional activity concerning its common stock.\n On March 10, 2017, OTC Markets informed the Company that it became aware of certain promotional activities concerning Bionik Laboratories and its common stock. OTC Markets informed the Company that it had received copies of promotional newsletter emails encouraging investors to purchase the Company’s common stock. The Company has been informed that this promotional activity coincided with higher than average trading volume in the Company’s stock. The Company was unaware of the promotional activity until after the close of business on March 8, 2017 when an individual advised the Company. At such time, the Company began to investigate the source of such activities and the responsible parties and the extent of the email newsletters’ dissemination. The Company continues to investigate the full nature and content of this promotional activity. The Company currently uses IRTH Communications LLC to provide investor relations services. Since January of 2016, the Company also used the services of Jenene Thomas Communication LLC, Barretto Pacific Corp., Zacks Investment Research, PR Newswire, and Globe Newswire for investor relations and/or other related services. Bionik states definitively that the Company, its officers, directors and, to the Company’s knowledge, its controlling shareholders (i.e., shareholders owning 10% or more of the Company’s securities) have not, directly or indirectly, authorized or been involved in any way (including payment to a third-party) with the creation or distribution of promotional materials including these email newsletters; and that the Company, its officers, directors and, to the knowledge of the Company, any controlling shareholders, have not sold or purchased the Company’s securities within the past 90 days. Further, the Company has not issued any securities which are convertible or convertible at a discount to the current market rate at the time of the issuance. “The Company was not aware of the promotional materials’ author or its affiliated entities or persons until after close of business on Marc...