Rafarma - Biocogency Acquisition Progresses to Preparation of GAAP Financials and Form 10 Drafting for Full SEC Reporting

Ljubljana, Slovenia, Aug. 14, 2020 (GLOBE NEWSWIRE) -- Rafarma Pharmaceuticals, Inc. OTC:(RAFA) is pleased to update its shareholders on the progress of its acquisition by the R. & D. BIOCOGENCY LABORATORIES Group of Companies (“Biocogency”) of Cyprus.

As per the recently reached agreement, Biocogency has made its financial reports available and commenced the conversion process into GAAP accounting standards.

“The Company has begun the drafting process for its SEC Form 10 in order to transition to full reporting status. This will provide upgraded financial disclosures and bring us to new frontiers of liquidity and increased market capitalization that will benefit our shareholders”, comments Rafarma CEO Vladimir Dolgolenko.

Forward-Looking Statements: This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate,” or “continue”, or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risk, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with OTC Markets. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

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