TORONTO, Jan. 19, 2018 /PRNewswire/ - Portage Biotech
Inc. ("Portage" or the "Company") (OTCQB: PTGEF, Canadian Stock Exchange: PBT.U) is pleased to announce that it
has completed the distribution of shares of Biohaven Pharmaceutical Holding Company Ltd (BHVN:NYSE) to all eligible Portage
shareholders.
All regulatory notices and approvals were filed or obtained for the dividend including an exemption order from the Ontario
Securities Commission (the "OSC") which permits the distribution to Canadian shareholders. A copy of the OSC order may be viewed
at Portage's website: www.portagebiotech.com. The order is also
expected to be posted shortly on the OSC website at www.osc.gov.on.ca.
American Stock Transfer & Trust Company, LLC ("AST"), the agent responsible for the dividend distribution has advised the
Company that the distribution was initiated on January 16, 2018, the first business day on
American markets after the Martin Luther King Jr. holiday.
Registered Portage shareholders will receive a DRS (Direct Registration System) statement by mail as evidence that the
shares were issued in his/her name. All holders will need to certify either their domestic or foreign status before they can
transfer their shares to their brokerage account via DRS. To complete this request, the holders are advised to contact AST
Customer Service Dept., at 800-937-5449 or 718-921-8300 upon receipt of their DRS statements from AST.
AST will credit beneficial shareholders (i.e. those shareholders holding shares through a broker or other financial
intermediary) through an electronic book deposit at DTC (Depository Trust Company). The Company has been advised by AST that the
deposit process may require several business days to complete.
As disclosed in the Company's Information Statement dated January 5, 2018, those Portage
shareholders who are entitled to the stock dividend should direct their inquiries to AST or their brokers. Portage does not have
any control or involvement in the distribution process.
About Portage
Portage is engaged in the discovery and development of pharmaceutical and biotech products through clinical "proof of concept"
with a focus on areas of unmet clinical need. Following proof of concept, Portage will seek to sell or license these products to
large pharmaceutical or biotechnology companies for further development and commercialization. Portage has an interest in novel
targeted therapies, stem cell therapies, and new indications for older marketed products that have been found to have novel
patentable characteristics that bring new value to patients.
For further information, contact Kam Shah, Chief Financial Officer, by telephone at (416)
929-1806, by email at ks@portagebiotech.com or through
our website, www.portagebiotech.com.
Forward-Looking Statements
This news release includes forward-looking statements within the meaning of the U.S. federal and Canadian securities laws.
These forward-looking statements involve substantial risks and uncertainties, including statements that are based on the current
expectations and assumptions of the Company's management. All statements, other than statements of historical facts, included in
this press release, are forward-looking statements. The use of certain words, including the "believe", "could", "expect" and
"will" and similar expressions are intended to identify forward-looking statements. The Company may not actually achieve the
plans and objectives disclosed in the forward-looking statements and you should not place undue reliance on the Company's
forward-looking statements. Various important factors could cause actual results or events to differ materially from those that
may be expressed or implied by our forward-looking statements. Additional important factors to be considered in connection with
forward-looking statements are described in the "Risk Factors" section of the Company's quarterly financials and Management
Discussion and Analysis and annual Report in Form 20-F filed on SEDAR and EDGAR. The forward-looking statements are made as of
this date and the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law.
SOURCE Portage Biotech Inc.