Roadman Investments Provides Corporate Update
VANCOUVER, British Columbia - TheNewswire - June 25, 2020 - Roadman Investments Corp. (TSXV:LITT) (FWB:1QD) (OTC: RMANF) ("Roadman" or the "Company") is pleased to announce that it has the following updates:
Further to the Company's news release dated May 19, 2020, the Company advises that it has not received any further communications from the Securities and Exchange Commission.
BCSC Continuous Disclosure Review Update
Further to the Company's news release dated May 19, 2020, the Company advises that the British Columbia Securities Commission's continuous disclosure review is still ongoing. The Company has responded to two comment letters and is actively cooperating with the BCSC. The BCSC has required the Company to issue an update on the status of the cedar leaf oil vapor research program, which is provided in this press release under the heading "University of British Columbia Research Program". At this time, the Company is not aware of any additional required updates to its continuous disclosure record. However, the BCSC review is still in progress. The Company has implemented a trading blackout for all insiders while the BCSC continuous disclosure review is underway. The Company is currently seeking the resumption of trading of the Company's securities on the TSX Venture Exchange.
University of British Columbia Research Program
CLOV Biopharma (CBP), a wholly owned subsidiary of the Company, recently commenced and completed its initial research program at UBC on cedar leaf oil vapour (CLOV). The research program took longer than anticipated because of COVID-19 pandemic closures at the lab. However, Dr. Hudson and Dr. Selvarani obtained the required exemptions to allow them to conduct the research. CBP is not permitted to acquire the authentic SARS CoV-2 coronavirus (associated with COVID-19). CBP obtained surrogate coronaviruses 229E and OC43 for testing in substitution of the SARS CoV-2 coronavirus (the "Test Viruses") which are commonly used for testing purposes for SARS virus research. In a controlled lab setting, glass slides containing dried specimens of the OC43 Test Virus were dried in a biosafety cabinet for 10 minutes and exposed to vapor from 2mL of undiluted cedar leaf oil for various time periods (5, 10, 15 and 30 minutes) at 22 degrees Celsius. The OC43 Test Virus was partially inactivated after 15 minutes of exposure and fully inactivated after 30 minutes of exposure to CLOV. The Company cautions that this is still under early stage research and development and is not making any express or implied claims that CLOV can eliminate the SARS CoV-2 coronavirus. https://www.thenewswire.com/press-releases/1k3wF505V-roadman-investments-provides-corporate-update.html