SOURCE: CannaPharmaRx, Inc.

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July 01, 2015 10:29 ET

CannaPharmaRx Closes Merger of Colorado Subsidiary

CARNEYS POINT, NJ--(Marketwired - July 01, 2015) - CannaPharmaRx, Inc. (OTCQB: CPMD), an early stage pharmaceutical company whose purpose is to advance cannabinoid research and discovery (the "Company"), announced today the successful closing of the previously announced merger with CannaPharmaRx, Inc., a Colorado corporation (the "Colorado Company"), the Company's largest stockholder. The merger was recently unanimously approved by the shareholders of the Colorado Company. The Colorado Company remains as a surviving corporation and a wholly-owned, non-operating subsidiary of the Delaware Company. The merger was formally completed on June 29, 2015.

Mr. Gerry Crocker, CannaPharmaRx's CEO, commented, "We have been actively working over the past quarter to complete the merger, which is the final step in our Company's formation originally contemplated in 2014, and necessary to simplify our legal structure. We are excited to have completed the transaction allowing CannaPharmaRx to move forward more efficiently."

About CannaPharmaRx, Inc.
CannaPharmaRx, Inc. is an early-stage pharmaceutical company whose purpose is to advance cannabinoid research and discovery using proprietary formulation and drug delivery technology currently in development. Cannabinoids are a class of chemicals that, once ingested, are active in humans and animals through the "endocannabinoid system" -- one of the most widely expressed system of receptors in the human body. CannaPharmaRx is currently focused on targeting disease states where its delivery systems can have optimal impact with therapeutic differentiation among alternative cannabinoid therapies, including: neurological disorders, oncology, infectious disease, pain management, inflammatory disease, gastrointestinal disorders and ophthalmology. For more information, please visit www.CannaPharmaRx.com.

Forward-Looking Statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimated," and "intend" among others. These forward-looking statements are based on CannaPharmaRx's current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to: our ability to satisfy the closing conditions to the proposed merger, substantial competition; our ability to continue as a going concern; our need for additional financing; uncertainties of patent protection and litigation; clinical trials involve a lengthy and expensive process with an uncertain outcome, and results of earlier studies and trials may not be predictive of future trial results; uncertainties of government or third party payer reimbursement; limited sales and marketing efforts and dependence upon third parties; and risks related to failure to obtain FDA clearances or approvals and noncompliance with FDA regulations. As with any pharmaceutical products under development, there are significant risks in the development, regulatory approval and commercialization of new products. There are no guarantees that the merger or other matters discussed in this press release will be completed or successful. CannaPharmaRx does not undertake any obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in CannaPharmaRx's Annual Report on Form 10-K for the year ended December 31, 2014 and other periodic reports filed with the Securities and Exchange Commission.

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