FORT WORTH, Texas, Feb. 3, 2025 /PRNewswire/ -- PharmChem, Inc.("PharmChem" or the "Company") (OTC: PCHM) the leading provider of sweat patches to detect drugs of abuse, today announced that the Company's Board of Directors has decided to explore strategic alternatives.
The Company has not retained a financial advisor at this time based on its belief that the Board's experience and expertise can guide the company through the process. The Company will consider various options, including acquisitions, potential sale of the Company, merger, or a debt financed special dividend. The Company has set up a data room for interested parties.
The Board believes the Company and its products are well positioned in the industry and that the Company would be more valuable as part of a larger company than as a stand-alone entity, and also be better able to serve its customers. There can be no assurance that the review being undertaken will result in a merger, tender offer, sale or other business combination involving the Company, or a special dividend. There is no deadline or definitive timetable set for completion of the strategic alternatives review process and there can be no assurance that this process will result in the Company pursuing a transaction or any other strategic outcome. The Company does not intend to make further announcements regarding the review unless and until the Board has approved a specific transaction or other course of action requiring disclosure, or the Company determines that a disclosure is required by law or otherwise deemed appropriate.
If interested parties have further, specific questions, please email our CFO Shana Veale at [email protected] and we will set up a call.
Tim Eriksen
Chairman of the Board
About PharmChem, Inc.
PharmChem, Inc. ("PharmChem") (OTC: PCHM), headquartered in Fort Worth, TX, is the manufacturer and sole source provider of the PharmChek® Drugs of Abuse Sweat Patch.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This letter contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933 ("Forward-looking Statements"), which are subject to the "safe harbor" created by these Sections. Forward-looking statements are statements about future financial results, future products or services and other events that have not yet occurred. These forward-looking statements contain words such as, but not limited to, "expect," "anticipate," "estimate," "believe," "will," "may" or "might." Forward-looking statements are not historical facts, but instead represent only the Company's beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. It is possible that the Company's actual results, financial condition and developments may differ, possibly materially, from the anticipated results, developments and financial condition indicated in these forward-looking statements. Management believes that these forward-looking statements are reasonable as of the time made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. Our Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our Company's historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, whether the objectives of the strategic alternative review process will be achieved; the terms, structure, benefits and costs of any strategic transaction; the timing of any transaction and whether any transaction will be consummated at all; the risk that the strategic alternatives review and its announcement could have an adverse effect on the ability of the Company to retain customers and retain and hire key personnel and maintain relationships with customers, suppliers, employees, shareholders and other business relationships; the risk the strategic alternatives review could divert the attention and time of the Company's management' and the risk of any unexpected costs or expenses resulting from the review.
SOURCE PharmChem, Inc.
