Paul Brennan was brought in at a $220,000 salary to save the day and instead he crashed the share price from .21 to .085 over nine months. Now having completely failed, he's bailing. With friends like these...
I have also tried to contact inmed four times through email and once through calling IR, but no answer, no response, nothing.
NEWS RELEASE
InMed Pharmaceuticals Provides Strategic Update on its Business Plans, Announces
Planned Executive and Board Departures
Vancouver, BC – May 4, 2016 - InMed Pharmaceuticals Inc. (“InMed” or “the Company”) (CSE:
IN; OTCQB: IMLFF), a biopharmaceutical company specializing in the research and development of
novel, cannabinoid-based therapies combined with innovative drug delivery systems, announced
today that it is currently engaged in a process to explore a range of strategic alternatives to enhance shareholder value.
InMed is a biotechnology company focused on the discovery and development of
phytocannabinoids as prescription based medicines. The company’s lead programs are targeting
epidermolysis bullosa (EB) and rare pediatric skin disease, and glaucoma.
The Company has retained Midtown Partners & Co, LLC as its advisor to assist the Company in
exploring multiple strategic alternatives. The Company stated that there can be no assurance that
the exploration of strategic alternatives will result in any transaction being entered into or
consummated. The Company has not set a timetable for completion of this process unless or until
the Board has approved a definitive course of action.
Additionally, the company would like to announce two personnel changes to the company: effective
May, 5th 2016 Paul Brennan will be leaving the company in his role as President and CEO, and
Tarek Mansour will leave his position from the Board of Directors. Mr. Brennan will continue to be
involved with the company as a strategic advisor and on the Board, and remains a shareholder of
InMed. Upon Mr Brennan’s resignation, Chris Bogart, SVP, will take on the responsibilities as interim
CEO.
