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Restructuring offers Assurance of Rafarma Pharmaceuticals' Improved Financial Future
Restructuring offers Assurance of Rafarma Pharmaceuticals' Improved Financial Future.
About this update from Rafarma Pharmaceuticals, Inc. (wy)
[{"type":"text","content":"\n\n\n\nRestructuring offers Assurance of Rafarma Pharmaceuticals' Improved Financial Future\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nRestructuring offers Assurance of Rafarma Pharmaceuticals' Improved Financial Future\nPR Newswire\nMOSCOW, April 2, 2014\n\n\n\nMOSCOW, April 2, 2014 /PRNewswire/ -- Rafarma Pharmaceuticals Inc. (OTC RAFA) is pleased to announce the complete restructuring of its existing € 90,000,000.00 loan with VNeshconombank (VEBank), Russia's premier development bank. Terms and conditions of the restructured loan include a 3-year deferment, or holiday, on all principal and interest payments thus greatly enhancing the financial stability of the company.\n\nCompany CEO Dave Anderson stated, \"We are gratified that VEBank have arranged this three year deferral and feel this offers a validation of management's progressive plan and meaningful support to Rafarma's stated objective of becoming a leading pharmaceutical company in Europe. This agreement significantly enhances your company's financial prospects.\"\n\nThe original loan from VEB was used in the construction of the company's 270,000 square foot state-of-the-art production facility in Terbuny. The company is in active production, supplying the Russian public health system, Russian military and is various stages of finalization for several private-industry production contracts.\n\nFor the last three years, the Russian Government has been highly focused on bolstering the development of the nation's domestic pharmaceutical industry. Rafarma's mission is to work under the auspices of aggressive federal initiatives to fast-track the modernization of Russia's pharmaceutical industry.\n\nFor more information on Rafarma Pharmaceuticals, visit: http://rafarma.com  For more information on VEBank, visit: http://www.veb.ru/en/   \n\nSafe Harbor Statement  Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words \"anticipate,\" \"believe,\" \"es...