Toronto, Ontario--(Newsfile Corp. - January 14, 2022) - Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) ("Awakn"), a biotechnology company developing and delivering psychedelic therapeutics (medicines and therapies) to treat addiction, announces that it has been requested by OTC Markets Group Inc. ("OTC Markets") to issue this statement about certain promotional activity concerning its common stock.
On Wednesday, January 12, 2022, OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and its common stock traded on the OTCQB Marketplace, specifically the distribution of promotional emails on January 12, 2022, by third-parties discussing the growing ketamine revolution, citing the Company's potential growth in the space. Upon review, the Company determined that a third party, which was not engaged by the Company or any of its officers, directors, controlling shareholders or any third-party service providers distributed promotional emails. The Company had no editorial oversight of the promotional material or any opportunity to review in advance of the distribution; however, the Company has subsequently reviewed the specific details related to the Company that were included in such promotional emails, and has confirmed these details to be factual. The Company wishes to caution readers that the statements made in such promotional emails are speculative in nature. For more complete and specific information regarding the Company, its prospects and the risks associated with those prospects, readers should review the Company's public filings on SEDAR, its website and other reliable sources. The Company encourages investors to contact their investment advisors prior to making any investment.
Further, the Company understands this promotional activity may have coincided with increased trading activity in the Company's common shares beginning on or about January 5, 2022. The Company does not believe the promotional activities were a factor in the recent increase in trading volume of the Company's common shares. Instead, the Company attributes the increased trading volume to currently heightened investor interest as a result of its recent press releases which disclosed voluntary lock-up agreement from a number of shareholders, the expansion of its Ketamine for gambling disorder to include several other behavioural addictions, as well as the release of positive results of the phase-II a/b study for Ketamine-assisted therapy for the treatment of Alcohol Use Disorder.
After an inquiry by management, none of the Company's executive officers, directors or, to the knowledge of the Company, any controlling shareholders or third-party service providers sold or purchased shares of common stock of the Company within the past 90 days.
In the last twelve months, the Company has engaged JRZ Capital (as previously disclosed in a press release dated October 8, 2021), KCSA Strategic Communications for investor and public relations services, as well as other news organizations including Investing News Network, Agoracom, InvestorIntel, Just Capital Consulting and The Dales Report.
The OTC Markets has further requested that the Company state whether it has issued any shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market price at the time of the issuance, which the Company has not.
About Awakn Life Sciences Corp.
Awakn Life Sciences is a biotechnology company developing and delivering psychedelic therapeutics (medicines and therapies) to better treat addiction. Awakn's team consists of world leading chemists, scientists, psychiatrists, and psychologists who are developing and advancing the next generation of psychedelic drugs, therapies, and enabling technologies to treat addiction. Awakn will deliver these evidence backed psychedelic therapies in clinics in the UK and Europe and through licensing partnerships globally.
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