Biotech Holdings Ltd. Announces Strategic Review Process
VANCOUVER, Oct. 1 /PRNewswire-FirstCall/ -- Biotech Holdings Ltd. ("Biotech" or the "Company", OTC BB: BIOHF; Frankfurt: 925970.F) The Board of Directors (the "Board") has initiated a process to evaluate alternatives as a result of the Company's major shareholder and creditor informing the Board that they will no longer be available to fund the Company's operations. The process will consider all options including finding alternate sources of financing and the possible sale of the operating business. No decision has been made regarding any specific alternative and there can be no assurance that this process will lead to a refinancing or to any transaction.
The Board of Directors has appointed a sub-committee of the Board to assist with this review.
Biotech Holdings Ltd. is based in Richmond, British Columbia. Biotech Holdings shares trade on the Over the Counter Bulletin Board in the United States (OTC BB: BIOHF).
This release has been approved by the Board of Directors of Biotech Holdings.
Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management's best judgement as to what may occur in the future. However, actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions and may differ materially from what is expressed.
Source: Biotech Holdings Ltd.
CONTACT: Gale Belding at Biotech Holdings Ltd., (888) 216-1111
(toll-free), 8 a.m. to 5 p.m. Pacific time, or by e-mail at biotech@direct.ca.
For background information, please visit Biotech's website at
www.biotechltd.com.
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