CALGARY, CA / ACCESSWIRE / January 23, 2023 / Asia Green Biotechnology Corp. (“Asia Green” or the “Company”) (CSE: ASIA) has raised additional funding to facilitate its ongoing scientific testing activities for the treatment of migraine and related health problems. to announce that you have completed the next payment. Developed by Asia Green’s R&D partners Pathway RX Inc. and Swysh Inc. This action is a result of the partner completing Health Canada’s directive to revise the clinical trial application and providing her GMP-certified gelcaps required to continue the active phase of the clinical trial process. If the results of the first phase of the clinical trial are positive and the various parties agree, the second and more detailed phase of the clinical trial will begin.
This development will allow us to access exclusive hemp and related cannabidiol varieties thanks to exclusive licensing agreements with Pathway RX Inc. and Swysh Inc. important part of any program. It was studied for efficacy in humans and eventually approved and applied as a new drug and over-the-counter health product. A particular focus of this study, and any further research that may derive from it, is on the ability of the unique hemp strain elements to treat and minimize symptoms in people suffering from migraine headaches. , migraines also affect society. This can be measured in both direct costs (such as medical care) and indirect costs (absenteeism or disability at work).
Dr. Igor Kovalchuk, Director of Asia Green, is also CEO, Director and Shareholder of Pathway Rx and Swysh. As such, he maintains an active and direct role in the oversight and ongoing management of the clinical trials conducted. Commenting on these developments, Dr. Kovalchuk said: Securing his GMP facility for the production of gelcaps for clinical trials is a very important and forward-looking step that will allow these unique products to bring significant benefits to human health. I am confident that it will give us a better understanding of the possibilities. both in Canada and around the world. “
Asia Green CEO David Pinkman added: Significant undertakings such as conducting these migraine clinical trials in Canada. If successful, these trials could provide revenue streams for Asia Green from both domestic and licensed international markets, More importantly, it lays the groundwork for the introduction of important therapies for multiple diseases that have afflicted people around the world. “
The company also announced that it has completed an extension of a previously executed funding agreement with its directors to cover certain costs related to its ongoing research activities and certain working capital costs. Proceeds will be used to facilitate certain research programs that are or may be conducted jointly with Asia Green’s technology partners.
The Company previously obtained a loan of $150,000 secured by the grant of convertible notes (the “Debentures”) in the name of the directors and related party lenders. The debentures bear interest at 12% and at any time after the date of issuance, at the option of the lender, at $0.05 per share of common stock (the “Converted Price”). The Notes are fully transferable and, after 24 months from the date of issuance, if the common stock trades at $0.25 or more, based on the 30-day volume-weighted average price of common shares traded on the CSE, the Company Upon ten (10) business days’ written notice to the holders, it has the right to request automatic conversion of the Notes at the conversion price, exercisable within ten (10) business days from the end of the trading period. The debentures are repayable on demand upon his ten (10) business days’ notice to the company in the event of a change of control of the company. The parties have agreed to increase the amount of funding provided by this Director by issuing a second $xxx convertible debenture (“Secondary Debentures”) issued on the same terms as the above debentures .
The Second Debentures and Private Placements of Equity constitute related party transactions within the meaning of Multilateral Agreement 61-101, Protection of Minority Shareholders in Special Transactions, and Exchange Policy. For such participation, the Company will, pursuant to Sections 5.5(b) and 5.7(1)(a), respectively, of MI 61-101, based on which the Company has based its formal valuation and minority shareholder subject to an exemption from the approval requirements of Not be listed on any particular stock exchange and, at the time the offering was agreed, so far as the interested parties are concerned, there is neither a fair market value of the object of the transaction nor a fair market value of the consideration (MI 61- 101) in an offering exceeding 25% of the Company’s market capitalization as calculated in accordance with MI 61-101; There is no special committee related to donations. The Board of Directors of the Company has approved the offering of debentures and stock, and none of the directors has expressed or abstained from voting in connection with the offering of any debentures or stock (as required by the business). except for the abstention of Corporation Law (Alberta)). Material Change Reports filed in connection with a bond and stock offering will not be filed at least 21 days prior to the completion of the second bond and stock offering as contemplated by MI 61-101 . As the completion of the issuance of the Notes will occur immediately prior to the issuance of this news release and the filing of such material change reports, the Company believes this short period of time is reasonable and necessary under the circumstances. I’m here.
About Asia Green:
Asia Green is an early stage international biotechnology company focused on the development, evaluation, testing, application and ultimately market supply of proprietary organic hybridization technology and specific products derived from that technology. It’s a company. The core approach of this business is to plant, grow and harvest commercial doses of new valuable hemp strains and related crops under the terms of licensing agreements with InPlanta Biotechnology Inc., Swysh Inc. and Pathway Rx Inc. I am concentrating on
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chief executive officer
We expressly state that products manufactured pursuant to the terms of our license agreements have the ability to eliminate, cure, or contain Covid-19 (or SARS-2 coronovirus), migraine conditions, or other medical conditions. or make no implied claims. At the moment.
Neither CSE nor its regulated service providers (as that term is defined in CSE’s policy) assumes responsibility for the adequacy or accuracy of this release.
sauce: Asia Green Biotechnology Co., Ltd.
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