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NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
VANCOUVER, BC / ACCESSWIRE / October 7, 2021 /CanaFarma Hemp Products Corp. (CSE:CNFA) (the "Company" or "CanaFarma") announces that the United States Securities and Exchange Commission has charged each of CanaFarma, Vitaly Fargesen (Senior Vice President) and Igor Palatnik (Senior Vice President) with violations of the United States Securities Act of 1933 in connection with various previous capital raising activities, representations to investors and the public in general and the alleged misuse and misappropriation of funds. In a parallel action, the U.S. Attorney's Office for the Southern District of New York announced criminal charges against Messrs. Fargesen and Palatnik.
The charges levied today have not been proven in a court of law and the defendants vehemently deny these charges and have indicated their intentions to vigorously defend both CanaFarma and themselves individually.
For media inquiries, please contact:
Vitaly Fargesen, Senior Vice President
Forward Looking Statement
This news release contains statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as "may", "would", "could", "will", "likely", "except", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate", "outlook", or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to the charges alleged by the SEC and the defendants intention to vigorously defend against them. Forward-looking information is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: financing risks; regulatory and licensing risks; changes in consumer demand and preferences; changes in general economic, business and political conditions, including changes in the financial markets; risks relating to regulatory change; compliance with extensive government regulation; public opinion; the impact of COVID-19; and the risk factors set out in the Company's public documents filed with Canadian securities regulators and available on the Company's profile on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information.
The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
SOURCE: CanaFarma Hemp Products Corp.
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