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8-K - FORM 8-K - INNOVUS PHARMACEUTICALS, INC. | innv8k_mar212017.htm |
Exhibit
99.1
Innovus Pharmaceuticals Announces the Cash Redemption of All
Outstanding Convertible Notes
Reduces Current Debt Obligations by Approximately $1.3
Million
San Diego, Calif., March 22, 2017 – Innovus
Pharmaceuticals, Inc. ("Innovus Pharma") (OTCQB Venture
Market: INNV), today announced the
cash redemption of all remaining outstanding convertible notes.
With the redemption of the convertible notes, the Company has
reduced its current debt obligation by approximately $1.3 million
and eliminated approximately $0.3 million in derivative
liabilities relating thereto.
About Innovus Pharmaceuticals, Inc.
Headquartered in San Diego, Innovus Pharma is an emerging
over-the-counter (“OTC”) consumer goods and specialty
pharmaceutical company engaged in the commercialization, licensing
and development of safe and effective non-prescription medicine and
consumer care products to improve men’s and women’s
health and vitality and respiratory diseases. Innovus Pharma delivers innovative and uniquely
presented and packaged health solutions through its (a) OTC
medicines and consumer and health products, which we market
directly, (b) commercial partners to primary care physicians,
urologists, gynecologists and therapists, and (c) directly to
consumers through our on-line channels, retailers and wholesalers.
The Company is dedicated to being a leader in developing and
marketing new OTC and branded Abbreviated New Drug Application
(“ANDA”) products. The Company is actively pursuing
opportunities where existing prescription drugs have recently, or
are expected to, change from prescription (or Rx) to
OTC.
Innovus Pharma's Forward-Looking Safe Harbor:
Statements
under the Private Securities Litigation Reform Act, as amended:
with the exception of the historical information contained in this
release, the matters described herein contain forward-looking
statements that involve risks and uncertainties that may
individually or mutually impact the matters herein described for a
variety of reasons that are outside the control of the Company,
including, but not limited to, the Company’s need for
additional equity or debt financing, to receive applicable
regulatory approval for its products, successfully commercialize
such product and other products and to achieve its other
development, commercialization, financial and staffing objectives.
Readers are cautioned not to place undue reliance on these
forward-looking statements as actual results could differ
materially from the forward-looking statements contained herein.
Readers are urged to read the risk factors set forth in the
Company's most recent annual report on Form 10-K, subsequent
quarterly reports filed on Form 10-Q and other filings made with
the SEC. Copies of these reports are available from the SEC's
website or without charge from the Company.
Chesapeake
Group
Kevin
Holmes
410-825-3930
info@chesapeakegp.com