OWC Pharmaceutical Research Corp. (OTCMKTS:OWCP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On June 12, 2017, OWC Pharmaceutical Research Corp. (the
Registrant) accepted the resignation of Shmuel De-Saban as Chief
Financial Officer of the Registrant and its wholly-owned Israeli
subsidiary, One World Cannabis Ltd, positions he has held since
his appointment in June 2014. In Mr. De-Saban’s letter of
resignation, a copy of which is attached as Exhibit 17.5 hereto,
Mr. De-Saban stated that the reason for my resignation is to
permit me to pursue other business interests.I have had no
disagreements with the operations, policies or practices of the
Registrant or its subsidiary.
The Registrant anticipates appointing a new CFO on or about July
1, 2017, until which date Mr. Mordechai Bignitz, who is the
Registrant’s CEO and Chairman and is also a CPA and accountant
by education and training, will serve as Interim CFO.
Item 9.01 Financial Statements and Exhibits.
(a) The following documents are filed as exhibits to this report
on Form 8-K or incorporated by reference herein. Any document
incorporated by reference is identified by a parenthetical
reference to the SEC filing that included such document.
|
Exhibit No. |
Description |
| 17.5 |
Letter of Resignation of Mr. Shmuel De-Saban dated June 12, 2017, filed herewith. |
About OWC Pharmaceutical Research Corp. (OTCMKTS:OWCP)
OWC Pharmaceutical Research Corp. is a medical cannabis research and development company. The Company is engaged in the research and development of cannabis-based medical products (the Product Prospects) for the treatment of multiple myeloma, psoriasis and fibromyalgia, as well as development of a cannabis soluble tablet delivery system that has applications for other indications. The Company also provides consulting services to governmental and private entities to assist them with developing and implementing various medical cannabis programs. As of September 30, 2016, the Company was engaged in two business activities: work with GUMI to commercialize and market the Company’s Electromagnetic Percussion Device (the Device), and research and development of Cannabis-based medical products for the treatment of a range of medical conditions and/or diseases, such as multiple myeloma, psoriasis, post-traumatic stress disorder (PTSD) migraines and a delivery system.
