Premier Information Management, Inc. Announces Reverse Merger With Cannabinoid Biosciences, Inc.
TORRANCE, May 13, 2021 (GLOBE NEWSWIRE) -- Premier Information Management, Inc. (OTC: PIFR) announced today that it has entered into a reverse merger agreement with Cannabinoid Biosciences, Inc. a
California biopharmaceutical company, which intends to engage in the discovery, development, and commercialization of cures and novel therapeutics from proprietary cannabinoid, cannabidiol,
endocannabinoids, phytocannabinoids, and synthetic cannabinoids product platform suitable for specific treatments in a broad range of disease areas. CBDX is SEC reporting Regulation A+, company.
CBDX business plan is primarily, to engage in biopharmaceutical research and development operation with aim of identifying viable drug candidates to go into clinical trials and if successful, be
submitted to the FDA for approval. Secondarily, the company also plans to roll-up CBD operations across the United States.
Based on mutual confidence that the reverse merger agreement, both parties agreed that a simple press release today was important in order to address recent inquiries as to the long-term future of the company.
These are the answers to recent inquiries along with other relevant points related to this strategic move:
- This reverse merger involved a change of leadership and a completely new management infrastructure.
- The agreement provides that No Reverse Split will take place as part of this transaction and that the Company may not perform a reverse split for the next 18 months, thereby, protecting the current shareholders' positions.
- The CBDX management & operations team currently consists of 4 key individuals with plans to ramp up as it start to rollup targeted acquisitions.
- As of today, OTC Markets is up to date on the current share structure.
- This move will also involve maintaining the company pink current status on OTC Markets.
- Change of name and ticker symbol would follow at the appropriate time.
All parties involved expect were satisfied with this reverse merger
PIFR is also pleased to announce that Kareem Davis has been appointed as the company’s President and CEO effective immediately.
Kareem brings the experience, capabilities and his “Avengers team” to PIFR, having served in several leadership roles in healthcare as well as building an online cannabis business to an 10 million dollar valuation in 2 year from the ground up.