Vancouver, British Columbia--(Newsfile Corp. - April 8, 2019) - PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF)
(FSE: 18H) (the "Company" or "PreveCeutical"), announces that it has obtained a default judgement against JCN Capital Corp.
("JCN") in connection with a Supreme Court of British Columbia action (the "Action"). The Action was brought by PreveCeutical in
December 2018, against a group of defendants (the "Defendants") for fraudulent misrepresentation, breach of contract, conspiracy,
unjust enrichment and breach of duty of honest performance in connection with services that the Defendants failed to provide to
PreveCeutical, and various consulting agreements and subscription agreements entered into between PreveCeutical and certain of the
Defendants (see news release dated January 7, 2019).
"We are pleased to have received this third default judgement as it demonstrates that PreveCeutical is actively pursuing this
Action," said PreveCeutical's Chairman and CEO, Stephen Van Deventer.
A notice of civil claim was filed on December 17, 2018 by the Company, as plaintiff, in the Action against the Defendants,
consisting of Aly Babu Mawji, Justin Liu, BridgeMark Financial Corp., Rockshore Advisors Ltd. (formerly known as, Cam Paddock
Enterprises Inc.), Detona Capital Corp., Escher Invest SA, Essos Corporate Services Inc., Jarman Capital Inc., JCN Capital Corp.,
Kendl Capital Limited, Lukor Capital, Northwest Marketing and Management Inc., Sway Capital Corp. and Tryton Financial Corp.
The amount of damages and costs to be awarded to the Company and against JCN remain to be assessed by the court. The Company is
continuing to pursue its claims against the other Defendants in the Action.
About PreveCeutical
PreveCeutical is a health sciences company that develops innovative options for preventive and curative therapies utilizing
organic and nature identical products.
PreveCeutical aims to be a leader in preventive health sciences and currently has five research and development programs,
including: dual gene therapy for curative and prevention therapies for type 2 diabetes and obesity; the soluble gel drug delivery
program; Nature Identical™ peptides for treatment of various ailments; non-addictive analgesic peptides as a replacement
to the highly addictive analgesics such as morphine, fentanyl and oxycodone; and a therapeutic product for treating athletes who
suffer from concussions (mild traumatic brain injury).
For more information about PreveCeutical, please visit www.PreveCeutical.com, follow us on Twitter: http://twitter.com/PreveCeuticals and Facebook: www.facebook.com/PreveCeutical.
On Behalf of the Board of Directors
"Stephen Van Deventer"
Chairman and CEO
For further information, please contact:
PREVECEUTICAL MEDICAL INC.
Deanna Kress
Director of Corporate Communications & Investor Relations
+1-778-999-6063
deanna@PreveCeutical.com
Forward-Looking Statements:
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private
Securities Litigation Reform Act of 1995. All statements in this news release that are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans, expectations and orientations regarding the future including,
without limitation, the Company's anticipated business plans, the ongoing litigation against the other Defendants and the court's
assessment of the amount of damages and costs to be awarded to the Company and against JCN. Often, but not always, forward-looking
statements can be identified by words such as "will", "pro forma", "plans", "expects", "may", "should", "budget", "schedules",
"estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative
variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be
taken or achieved. Forward looking statements are based on certain assumptions regarding PreveCeutical, including that the Action
will result in a judgement in favour of the Company against the other Defendants and that the Company will be able to obtain the
relief sought by it in the Action. Actual results could differ from those projected in any forward-looking statements due to
numerous factors including risks and uncertainties relating to the inability of the Company, to, among other things, obtain any
required governmental, regulatory or stock exchange approvals, permits, consents or authorizations required, including Canadian
Securities Exchange acceptance of any planned future activities, complete its research programs as planned, obtain the financing
required to carry out its planned future activities and risks and uncertainties relating to the Action. Other factors such as
general economic, market or business conditions or changes in laws, regulations and policies affecting the healthcare, cannabis,
biotechnology or pharmaceutical industries, may also adversely affect the future results or performance of the Company. These
forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes
no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those
projected in these forward-looking statements. Although the Company believes that the statements, beliefs, plans, expectations, and
intentions contained in this news release are reasonable, there can be no assurance that those statements, beliefs, plans,
expectations, or intentions will prove to be accurate. Readers should consider all of the information set forth herein and should
also refer to other periodic reports provided by the Company from time-to-time. These reports and the Company's filings are
available at www.sedar.com.
Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are
cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43927
