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OWC Pharmaceutical Research Announces $750K Equity Purchase Agreement With Kodiak Capital Group
OWC Pharmaceutical Research Announces $750K Equity Purchase Agreement With Kodiak Capital Group.
About this update from Owc Pharmaceutical Research Corp
[{"type":"text","content":"\n\n\n\nOWC Pharmaceutical Research Announces $750K Equity Purchase Agreement With Kodiak Capital Group\n\n\n\n\n\nOWC Pharmaceutical Research Announces $750K Equity Purchase Agreement With Kodiak Capital Group\nCapital Will Facilitate Completion Of Safety Trials for the Company's Proprietary Cannabis Delivery System for Multiple Myeloma and Other Planned Studies\nPR Newswire\nPETACH-TIKVA, Israel, January 11, 2016\n\n\n\nPETACH-TIKVA, Israel, January 11, 2016 /PRNewswire/ --\n\nOWC Pharmaceutical Research Corp. (OTC: OWCP), an Israel-based pharmaceutical research company dedicated to the development of cannabinoid treatments, products and delivery technologies, today announced that it has entered into a $750,000 equity purchase agreement (\"Agreement\") with Kodiak Capital Group, LLC (\"Kodiak\").\n\n     (Logo: http://photos.prnewswire.com/prnh/20150311/734965-a )\n\n\n     (Logo: http://photos.prnewswire.com/prnh/20150311/734965-b )\n\n\nUnder the terms of the Agreement, OWC Pharmaceutical Research Corp (\"OWC\" or the \"Company\") has the right to sell Kodiak $750,000 of OWC's common stock. Kodiak cannot require OWC to sell shares to Kodiak, but is obligated to make purchases as requested by OWC. Proceeds from the financing will be utilized by OWC to further develop the Company's proprietary cannabis-centric products and for working capital.\n\nMordechai Bignitz, OWC Pharmaceutical Research's chairman, commented on the announcement, \"We are very excited to receive our first direct investment from an institution, especially one as respected as Kodiak Capital Group. This proves to us at OWC that we are on the right track with our vision for clinical research by Institutional Review Board-approved trials, which is the prime message for the future of the Medical Cannabis market.\"\n\nMr. Bignitz went on to say, \"There are a number of companies working on cannabinoid-based therapies, but OWC Pharmaceutical Research is one of only a few that are conducting trials in accordance with IRB. We believe that this strategy not only provides OWC with a distinct competitive advantage, but that it will also demonstrate that cannabis therapies can be just as effective, if not more effective, than industrial pharmaceuticals. We have been working vigorously to complete the delivery methodology and safe...