THOROFARE, N.J., Nov. 19, 2018 (GLOBE NEWSWIRE) -- Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), (“Akers
Bio” or the "Company"), a developer of rapid health information technologies, is pleased to provide an update on the process
announced on November 7, 2018 to evaluate strategic alternatives to maximize shareholder value.
The Company can now confirm that this process will consider a range of potential strategic alternatives
including, but not limited to, business combinations in alternative sectors including cannabis related industries. Members of the
Company’s board have recently met with a number of companies in cannabis related industries at the MJBizCon conference in Las
Vegas, Nevada. Furthermore, the Company has engaged the firm of Feuerstein Kulick LLP as a legal advisor as the board continues its
evaluation of opportunities within the cannabis space.
There can be no assurance that the exploration of strategic alternatives will result in any transaction or other
alternative.
Howard R. Yeaton, Chief Executive Officer, commented:
“The Board of Directors and management of the Company are considering a number of exciting opportunities for
business combinations including within the cannabis industry in which we believe opportunities exist for significant value
creation. At the same time, we remain focused on our current business operations and customers and look forward to reporting
further developments when appropriate.”
About Akers Biosciences, Inc.
Akers Bio develops, manufactures, and supplies rapid screening and testing products designed to deliver quicker
and more cost-effective healthcare information to healthcare providers and consumers. The Company has advanced the science of
diagnostics while responding to major shifts in healthcare through the development of several proprietary platform technologies.
The Company's state-of-the-art rapid diagnostic assays can be performed virtually anywhere in minutes when time is of the essence.
The Company has aligned with major healthcare companies and high volume medical product distributors to maximize product offerings,
and to be a major worldwide competitor in diagnostics.
Additional information on the Company and its products can be found at www.akersbio.com.
Cautionary Note Regarding Forward-Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and
constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities
that involve substantial risks and uncertainties. Such statements may include, without limitation, statements with respect to the
Company’s plans, compliance with the requirements of various regulatory agencies and certain NASDAQ Stock Market listing rules,
objectives, projections, expectations and intentions and other statements identified by words such as “projects,” “may,” “will,”
“could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar
expressions, as they relate to the Company, its subsidiaries, or its management. These statements are based upon the current
beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties, including those
detailed in the Company’s filings with the Securities and Exchange Commission. Actual results, performance, prospects, and
opportunities to may differ materially from those set forth in, or implied by, the forward-looking statements. These
forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of
which are beyond the Company’s control). The Company undertakes no obligation to publicly update any forward-looking statements,
whether as a result of new information, future events or otherwise, except as required by applicable law.
Inquiries:
Akers Biosciences, Inc.
Howard R. Yeaton, Chief Executive Officer and Interim Chief Financial Officer
Tel. +1 856 848 8698
Vigo Communications (Global Public Relations)
Ben Simons / Fiona Henson
Tel. +44 (0)20 7390 0234
Email: akers@vigocomms.com