NEW YORK, NY--(Marketwired - Mar 6, 2017) - Rising India Inc. (OTC: RSII) is pleased to announce that they are preparing to execute final documents for the incoming merger of Rising BioSciences, Inc., a research and development company focusing on oral and topical pharmaceuticals with strict standards set forward by the pharmaceutical compounding industry.
CEO Jim DiPrima feels this will be an incredible opportunity for the company and its shareholders moving forward. DiPrima has agreed to step down as CEO as part of the merger agreement. Incoming management and strategic alliances include a team of chemists, physicians, pharmacists and Medical Marijuana Industry veterans for the development of products in a clinical lab environment.
"I feel that Rising BioSciences will deliver shareholder value in a big way," states DiPrima. "There are ample prospects within the MMJ R&D markets, particularly those budding in the pharmaceutical compounding sector. Rising BioSciences seeks to fulfill a yet-to-be-met market demand with a first to market approach so that patients across the U.S. get the treatment they so desperately need without falling subject to the dangers of opiates, whose long-term effects can include liver damage, dependence/addiction and brain damage due to hypoxia, resulting from respiratory depression, among other complications."
He concludes, "In addition to the long-term growth prospects here, we have already experienced some incredible prospective shareholder value that I expect to continue in line with execution of the model. As well, there will be no reverse split or increase of authorized or outstanding shares in order to fully execute the merger. We anticipate signature on final Agreement(s) by end of Q1"
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Forward-Looking Statements: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.