Attached files
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EX-10.13 - SHARE PURCHASE AGREEMENT WITH MOHAMED BELHAJ AND ATLAS PHARMA, INC. - Sunshine Biopharma, Inc | sbfm_ex10-13.htm |
8-K - CURRENT REPORT - Sunshine Biopharma, Inc | sbfm_8k.htm |
Exhibit 99.7
For Immediate Release
January 4, 2018
SUNSHINE BIOPHARMA COMPLETES THE ACQUISITION OF ATLAS
PHARMA
Montreal,
Quebec, Canada -- (ACCESSWIRE) – On January 1, 2018, Sunshine
Biopharma Inc. (OTCBB: “SBFM”), a pharmaceutical
company focused on the research, development and commercialization
of drugs for the treatment of various forms of cancer, completed
the acquisition of Atlas Pharma Inc., a Montreal-based analytical
chemistry company fully accredited by Health Canada and registered
with the FDA. Atlas Pharma is a certified company dedicated to
chemical analysis of pharmaceutical and other industrial samples.
The acquisition price of $0.85 million Canadian (approximately
$0.68 million US) was paid in cash, long-term debt and Common Stock
of the Company.
Atlas
Pharma has 9 full-time employees and generated revenues of
approximately $500,000 Canadian (approximately $400,000 US) in
2017. Housed in a 5,250 square foot facility, Atlas Pharma
operations are authorized by a Drug Establishment License (DEL)
issued by Health Canada and are fully compliant with the
requirements of Good Manufacturing Practices (GMP). More
information about Atlas Pharma is available at www.atlaspharmainc.ca.
Sunshine
intends to expand Atlas’ business operations by purchasing
additional equipment and hiring more technical and sales
personnel.
About Sunshine Biopharma
Sunshine
Biopharma is pharmaceutical company committed to becoming more
fully integrated by offering pharmaceutical services and generic
drugs in addition to its original proprietary drug development
program. The Company is currently undertaking a brokered private
placement of up to $10 million in Canada and intends to use the net
proceeds from this offering for implementation of the
Company’s business plan including the clinical development of
Adva-27a, the Company’s flagship anticancer compound. Tests
conducted on Adva-27a have demonstrated the drug’s
effectiveness at destroying multidrug resistant cancer cells
including Pancreatic Cancer cells, Breast Cancer cells, Uterine
Sarcoma cells and Small-Cell Lung Cancer cells. Clinical trials for
Pancreatic Cancer indication are planned to be conducted at McGill
University’s Jewish General Hospital in Montreal,
Canada.
Safe Harbor Forward-Looking Statements
To the extent that statements in this press release are not
strictly historical, including statements as to revenue
projections, business strategy, outlook, objectives, future
milestones, plans, intentions, goals, future financial conditions,
future collaboration agreements, the success of the Company's
development, events conditioned on stockholder or other approval,
or otherwise as to future events, such statements are
forward-looking, and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
The forward-looking statements contained in this release are
subject to certain risks and uncertainties that could cause actual
results to differ materially from the statements made.
For Additional Information Contact:
Camille
Sebaaly, CFO
Sunshine
Biopharma Inc.
Direct
Line: 514-814-0464
camille.sebaaly@sunshinebiopharma.com
www.sunshinebiopharma.com