AXM Pharma Issues Correction
NEW YORK, July 06, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- AXM Pharma, Inc. (OTC:AXMP) (“AXM Pharma” or the “Company”) on July 02, 2018 announced that it entered into a binding letter agreement (the “Letter Agreement”) with a leading Cameroon-based Cocoa exporting company, AS Industries Cameroon (“ASIC”), which fully owns the largest indigenous cocoa exporting company in Cameroon, as well as a state of the art cocoa processing company.
The Company further announced that per the agreement Mr. Emmanuel Neossi acquired 70% control of AXM Pharma, Inc. and that effective June 25, 2018, Mandla J. Gwadiso, newly appointed Chairman and CEO of AXM Pharma has stepped down and Mr. Emmanuel Neossi has been appointed as the new Chairman of the Board effective immediately.
The Company would like to officially clarify that the acquisition and change of management date should have been June 30, 2018.
All other information given in the earlier press releases stand as stated. The Company would like to apologize for any confusion or inconvenience this typographical error may have caused.
About ASIC
ASIC is a Cameroon-based holdings company which fully owns the largest indigenous cocoa trading company in Cameroon, as well as a state of the art cocoa processing company, with headquarters in Kekem. ASIC has several drying and storage units in Kekem, Douala or other rural areas in the centre region. In a few years of activity, ASIC through its strong network of producers, producer groups and business partners such as Touton SA, Sucden, Olam International has established itself as one of the leaders in cocoa / coffee trading in Cameroon.
The management team of ASIC is made up of skilled professionals, each having several years of experience such as its CEO Mr. Emmanuel Neossi who has 20 years of experience in the cocoa trade area.
Cautionary Note:
The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.
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