Rafarma Approves Issuance of Majority of Voting Shares to Board Chairman Ilya Shpurov

Ljubljana, Slovenia, Oct. 06, 2020 (GLOBE NEWSWIRE) -- Rafarma Pharmaceuticals, Inc. OTC:(RAFA) is pleased to announce approval of Ilya Shpurov receiving the majority of Preferred B shares, conferring voting control of the company, toward the combination of its acquisition by R. & D. BIOCOGENCY LABORATORIES Group of Companies. The issuance of restricted preferred shares does not create any dilution of common shares.

Vladimir Dolgolenko, CEO of Rafarma, commented: “we look forward to this new chapter in the history of the company, enhanced by the leadership of Mr. Shpurov and the enhanced value of Rafarma resulting from this transaction.”

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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