OXIS International announces plans to Enter the Cannabis Biotech Sector,
Completion of Financing, Changes to the Board of Directors
Oxis International, Inc. (OXI.PA) announced company management has changed the
business and plans to enter the cannabis biotech space. To support the change
of business, the company completed a $1.425 million financing. Mr. Anthony
Cataldo has joined the OXIS Board of Directors and will serve as Chairman of
BEVERLY HILLS, Calif., Aug. 11, 2014
BEVERLY HILLS, Calif., Aug. 11, 2014 /PRNewswire/ --Oxis International, Inc.
(OXI.PA) announced today company management has changed the business and plans
to enter the cannabis biotech space. To support the change of business, the
company completed a $1.425 million financing. Mr. Anthony Cataldo has joined
the OXIS Board of Directors and will serve as Chairman of the Board.
The changing landscape of medical marijuana laws sweeping the nation has
created incredible opportunities for commercialization of cannabis related
therapies. (OXI.PA) management team is currently in discussions to license
certain intellectual property from some of the world's foremost authorities in
the cannabis space. The just completed financing of $1.425 million will be
used to bring the company's required SEC filings to current status, increase
marketing of OXIS nutraceutical products, and investigate possible business
acquisitions in the nutraceutical and/or marijuana sector.
As part of the change of business direction, directors Anshuman Dube and David
Saloff have resigned from the Board of Directors. Mr. Anthony Cataldo has been
appointed to the Board and will serve as Chairman. Mr. Cataldo has an
extensive career in the biotech industry including most recently as Chairman
and CEO of Genesis Biopharma , now Lion BIotechnologies Inc. (LBIO), where he
was responsible for the acquisition of licenses and CRADA for various cancers
utilizing T-cell therapy from the National Cancer Institute.
OXIS CEO Kenneth Eaton stated, "We are very excited about our new direction at
OXIS. The cannabis industry provides our shareholders many opportunities that
simply did not exist before. Our team at OXIS is uniquely positioned to take
advantage of this new business sector."
Forward-Looking Statements Except for historical information contained herein,
the statements in this release are forward-looking and made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are inherently unreliable and actual results
may differ materially. Examples of forward-looking statements in this news
release include statements regarding the payment of dividends, marketing and
distribution plans, development activities and anticipated operating results.
Factors which could cause actual results to differ materially from these
forward-looking statements include such factors as the Company's ability to
accomplish its business initiatives, significant fluctuations in marketing
expenses and ability to achieve and expand significant levels of revenues, or
recognize net income, from the sale of its products and services, as well as
the introduction of competing products, or management's ability to attract and
maintain qualified personnel necessary for the development and
commercialization of its planned products, and other information that may be
detailed from time to time in the Company's filings with the United States
Securities and Exchange Commission. The Company undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise.
SOURCE Oxis International, Inc.
Contact: Jonathan Barkman, Riverview Capital Enterprises, 1275 Glenlivet Dr
Ste 100, Allentown, PA 18106, office 866-845-0105, fax 484-224-2999
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