Spencer Pharmaceutical Discloses Al-Dora Holdings as the Buyout Offering Entity
2010年11月16日 - 11:05PM
Marketwired
Spencer Pharmaceutical Inc. (PINKSHEETS: SPPH) disclosed today that
the Al-Dora Holdings is the buyout offering entity.
According to information provided to the company, the Al-Dora
Holdings is a Kuwaiti private investment company owned and managed
by some of the Gulf's richest families. The Al-Dora Holdings is
represented by its chairman, His Excellency Dr. Bandar Al-Dhafiri
and its CEO His Excellency Hussein Al-Awaid.
The companies' representatives are schedule to hold a meeting in
Canada to negotiate a definitive agreement on or before December
22, 2010, this is respecting the Muslim holidays which are
currently in effect.
"We are happy to now be advanced enough to disclose the name of
the acquiring party," said Dr. Max Arella, President of Spencer
Pharmaceutical Inc. "Even though, we are advancing with our
research and licensing we are putting forth all necessary efforts
to see this transaction to a successful conclusion," further added
Dr. Arella.
About Spencer Pharmaceutical Inc.
Spencer Pharmaceutical Inc. is a US-based Pharmaceutical
Research and Development Corporation, which is developing
innovative drug release and absorption systems for the treatment of
metabolic diseases such as diabetes and metabolic syndrome.
About Al-Dora Holdings
Al-Dora Holdings is a private investment company located in
Kuwait. Al-Dora Holdings is a subsidiary of the Al-Dora Group. (In
the translation from Arabic to English, Al-Dora is sometimes
spelled Dorra and/or Dura). The Al-Dora Group has investments in
the financial sector, oil and gas, pharmaceutical, and real
estate.
Important Information About Forward-Looking Statements in this
press release may be "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Words such as "anticipate," "believe," "estimate," "expect,"
"intend" and similar expressions, as they relate to the company or
its management, identify forward-looking statements. These
statements are based on current expectations, estimates and
projections about the company's business based, in part, on
assumptions made by management. These statements are not guarantees
of future performance and involve risks, uncertainties and
assumptions that are difficult to predict. Therefore, actual
outcomes and results may, and probably will, differ materially from
what is expressed or forecasted in such forward-looking statements
due to numerous factors, including those described above. In
addition, such statements could be affected by risks and
uncertainties related to the exploration for and development of
mineralized material, product demand, market and customer
acceptance, competition, pricing and development difficulties, as
well as general industry and market conditions and growth rates and
general economic conditions. Any forward-looking statements speak
only as of the date on which they are made, and the company does
not undertake any obligation to update any forward-looking
statement to reflect events or circumstances after the date of this
release. Information on the Company's website does not constitute a
part of this release.
Contact: Dr. Max Arella President Spencer Pharmaceutical
Inc. Tel. 1+(617) 973-5017 H.E. Hussein Al-Awaid Chief Executive
Officer Al-Dora Holdings Tel. 97150 2160222
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