Launch of Vitality Biopharma for Cannabinoid Prodrug Pharmaceutical Development
Company to Focus on Treatment of Serious Neurological and Inflammatory Conditions
LOS ANGELES, CA--(Marketwired - May 9, 2016) - Stevia First Corp. (OTCQB: STVF) (the "Company") is pleased to announce that it is changing its name to Vitality Biopharma, Inc. and that the Company will be dedicated to development of cannabinoid prodrug pharmaceuticals, and unlocking the power of cannabinoids for treatment of serious neurological and inflammatory disorders.
In a recent shareholder letter available on the new corporate website at: www.vitality.bio, the Company's CEO, Robert Brooke, stated, "We have an opportunity that is impossible for us to ignore and that we believe will provide an incredibly strong foundation and help the company grow for many years to come."
Recent research into improving the taste of stevia compounds led to the finding that the process could act equally well on a wide variety of molecules, especially natural products, including cannabinoids, and that it could act on them in ways that could dramatically improve their drug properties, including modifications to their solubility, stability, and bioavailability. This work has enabled production of proprietary prodrug versions of each of the major cannabinoids that are being tested by the medical community today for treatment of a wide variety of disorders, including epilepsy, inflammatory bowel disease, and multiple sclerosis. The Company's work has focused primarily on cannabidiol, which is not psychoactive.
Mr. Brooke continues, "We have now generated and filed patents for more than 15 novel cannabinoid glycosides, or cannabosides, which act as part of a class of pharmaceuticals known as 'prodrugs,' and can be approved through lower-cost, abbreviated regulatory paths both internationally and in the U.S., such as the 505(b)(2) regulatory path."
The Company has submitted plans for a new trading symbol to the Financial Industry Regulatory Authority (FINRA) and has completed related corporate actions as described in a Form 8-K. Further details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database at www.sec.gov.
About Vitality Biopharma
Vitality Biopharma is dedicated to unlocking the power of cannabinoids for treatment of serious neurological and inflammatory disorders. For more information, visit: www.vitality.bio.
Stevia First Corp. (OTCQB: STVF) has received shareholder approval for a name change to Vitality Biopharma, Inc., which it expects will become effective in June 2016 after the necessary regulatory filings have been completed.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, projections of worldwide sales of stevia products, growth of stevia production and global markets. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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