PharmaCyte Biotech Rebukes Iroquois' Commencement of Consent Solicitation

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Jul 28, 2022

PharmaCyte Biotech, Inc. (NASDAQ: PMCB), a biotechnology company focused on developing cellular therapies for cancer, diabetes, and malignant ascites using its signature live-cell encapsulation technology, Cell-in-a-Box®, today issued the following statement in response to Iroquois Capital’s filing of a preliminary consent statement to commence a consent solicitation in lieu of a stockholder meeting. Iroquois Capital is seeking the consent of the Company’s shareholders to change various Company Bylaws, expand the size of the Company’s Board of Directors (Board) from 7 to 15, and elect Iroquois’ entire slate of 8 directors to the Board. The Company has serious concerns with this recent action taken by Iroquois and portends trouble ahead for the Company and its shareholders.