$CANB Can B Corp. Announces Holding Company Reorga
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Posted On: 10/30/2024 8:51:31 AM
$CANB Can B Corp. Announces Holding Company Reorganization With Nascent Pharma Holdings, Inc. to Become the Publicly-Traded Parent Company
https://www.globenewswire.com/news-release/20...mpany.html
Primary Focus on Protecting and Commercializing Cannabis Patents
HICKSVILLE, N.Y., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”) today announced that it has implemented a reorganization in which a new holding company, Nascent Pharma Holdings, Inc., has become the publicly-traded parent of Can B and its subsidiaries. As a result of the reorganization, existing shares of Can B stock have been automatically converted, on a one-for-one basis, into shares of common stock of Nascent Pharma Holdings, Inc. The Board and executive officers of Can B will continue in the same roles at Nascent Pharma Holdings, Inc.
In March 2024, Can B announced that it had shifted its primary focus to protecting and commercializing the cannabis patents acquired by its 67% owned subsidiary, Nascent Pharma, LLC, in February 2024. Can B believes that the reorganization will enhance its ability to raise capital to fund future business opportunities, including partnerships. licensing agreements, and potential litigation funding to support Nascent’s patent protection efforts.
The change in the name of the publicly traded name and the issuance of a new trading symbol is currently being processed by FINRA. Shares of the publicly traded company will continue to trade under the symbol “CANB” until the processing of the name change is complete and the new trading symbol is issued.
For more information about Nascent Pharma Holdings, Inc., please visit: https://nascentpharmaholdings.com.
https://www.globenewswire.com/news-release/20...mpany.html
Primary Focus on Protecting and Commercializing Cannabis Patents
HICKSVILLE, N.Y., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”) today announced that it has implemented a reorganization in which a new holding company, Nascent Pharma Holdings, Inc., has become the publicly-traded parent of Can B and its subsidiaries. As a result of the reorganization, existing shares of Can B stock have been automatically converted, on a one-for-one basis, into shares of common stock of Nascent Pharma Holdings, Inc. The Board and executive officers of Can B will continue in the same roles at Nascent Pharma Holdings, Inc.
In March 2024, Can B announced that it had shifted its primary focus to protecting and commercializing the cannabis patents acquired by its 67% owned subsidiary, Nascent Pharma, LLC, in February 2024. Can B believes that the reorganization will enhance its ability to raise capital to fund future business opportunities, including partnerships. licensing agreements, and potential litigation funding to support Nascent’s patent protection efforts.
The change in the name of the publicly traded name and the issuance of a new trading symbol is currently being processed by FINRA. Shares of the publicly traded company will continue to trade under the symbol “CANB” until the processing of the name change is complete and the new trading symbol is issued.
For more information about Nascent Pharma Holdings, Inc., please visit: https://nascentpharmaholdings.com.
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