TEL AVIV, Israel, July 9, 2020 /PRNewswire/ -- Therapix Biosciences
Ltd. (OTC Pink: TRPXY) (the "Company"), a specialty, clinical-stage
pharmaceutical company focusing on the development of
cannabinoid-based treatments, announced today that its American
Depositary Shares ("ADSs") will now trade under the OTC Pink ticker
symbol "TRPXY." The Company also announced the removal by an
Israeli court of a previously reported temporary injunction against
the Company prohibiting the Company from making any changes in its
share capital or adopting any resolution which is not in the
ordinary course of business.
OTC Pink Ticker Symbol "TRPXY"
As of July 8, 2020, the Company's
ADSs became eligible to trade on the OTC Pink Marketplace under the
symbols "TRPXY." The Company previously announced that the
listing of its ADSs was suspended by the Nasdaq Stock Market as of
July 2, 2020. The Company can
provide no assurance that its securities will commence or continue
to trade on the OTC Pink marketplace, whether broker-dealers will
continue to provide public quotes of the Company's securities on
this market or whether the trading volume of the Company's
securities will be sufficient to provide for an efficient trading
market.
Injunction Removal from Israeli Court
On July 8, 2020, during a court
hearing following the previously granted temporary injunction, the
Israeli court ruled as follows:
1. The parties have reached a mutual agreement that L.I.A.
Pure Capital shall cancel the application for the temporary
injunction, subject to the Company's commitment that (i) the
previously announced Annual and Special General Meeting of
Shareholders (the "Meeting") will be held on July 28, 2020 as planned, and (ii) the record
date for the Meeting will be July 7,
2020.
2. In the event the Meeting is convened and a quorum is
not present, the Meeting will be held one week later, on
August 4, 2020.
3. The Company confirmed that its previously announced
private placement of ADSs was terminated and is no longer in
effect, and the ADSs that were to be issued under such private
placement shall therefore not be entitled to vote in the Meeting
since they were not issued.
About Therapix Biosciences (OTC Pink: TRPXY):
Therapix Biosciences Ltd. is a specialty clinical-stage
pharmaceutical company led by an experienced team of senior
executives and scientists. Our focus is creating and enhancing a
portfolio of technologies and assets based on cannabinoid
pharmaceuticals. With this focus, the company is currently engaged
in the following drug development programs based on
tetrahydrocannabinol (THC) and/or non-psychoactive cannabidiol
(CBD): THX-110 for the treatment of Tourette syndrome and for the
treatment of obstructive sleep apnea; THX-160 for the treatment of
pain; and THX-210 for the treatment of autism spectrum
disorder and epilepsy. Please visit our website for more
information at www.therapixbio.com, the content of which is
not a part of this press release.
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Investor Contact:
IR@therapixbio.com
Tel: +972-3-6167055
info@therapixbio.com
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SOURCE Therapix Biosciences Ltd.