Rafina Innovations Inc Comments on Recent Stock Volume and Price Increase
Glasgow, Scotland, February 27, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Rafina Innovations Inc. has been advised of a significant increase in the share price and trading volume of the Company's shares beginning Monday February 25, 2019.
The Company has been advised by OTC Markets Group that the Company is the subject of a promotional campaign by newsletter writers. The material being distributed contains promotional language pertaining to the Company's business, activities and future share price. The promotional campaign coincides with, and appears to have affected, a significant increase in the share price and trading volume of the Company's shares beginning Monday February 25, 2019.
The Company and its officers and directors did not authorize or participate in the promotional campaign in any way and do not endorse it. The Company and its officers and directors only became aware of the promotional campaign when advised by OTC Markets Group.
The Company and its officers and directors:
· Has never had contacted with nor knows who the promotional writers are;
· Does not know if any of the promotional writers own shares of the Company;
· Did not participate in, or benefit from, trading in the shares of the Company during the promotional campaign;
· The information pertaining to the Company’s relationship with Smart Home projects is not accurate;
· The promotional material contains information available to the Public from the SEC site or the OTC Markets site;
· Some of the statements of the promotional material being the opinion of the writers are overly promotional;
· The Company does not have any IR services, public relation services, paid promotion, marketing or other related services at this time; and,
· The company does not have any convertible instruments at a discount to the market at this time.
The Company and its officers and directors are unaware of any business reason for this market activity and price increase. All material developments concerning the Company of which its officers and directors are aware have been disclosed in the Company's filings with OTC Markets. The Company encourages anyone interested in the Company to review its filings with OTC Markets (US).
About Rafina Innovations Inc.
Rafina Innovations Inc. operates two fully owned subsidiaries: 1. HCi Viocare Technologies: developing hardware solutions aiming to empower the user by providing on demand information and enhancing living quality. The R&D center located in Glasgow, Scotland, is working on a large portfolio of cutting edge, revolutionary and disruptive technologies in the fields of Digital Health, Prosthetics, Orthotics, Diabetes, Assistive Devices, Sports & Wellbeing, and DVT. The Company has developed a unique sensing technology with the brand name Flexisense™, which uses a multitude of micro sensors to detect pressure as well as shear that is unique over other sensing technologies. The sensors are wirelessly connected to smart devices providing real time and on demand information. HCi Viocare Technologies works on a licensing business model. 2. HCi Viocare Clinics: creating the first cross-border independent chain of Prosthetics & Orthotics (P&O) and Diabetic Foot clinics in Europe.
Forward Looking Statements
This press release contains forward-looking statements. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects", "intends", "estimates", "projects", "anticipates", "believes", "could", and other similar words. All statements addressing product performance, events, or developments that the Company expects or anticipates will occur in the future are forward-looking statements, including but not limited to future developments in the areas of athletic shoes and the information and performance of the Company's technology in such applications. Because the statements are forward-looking, they should be evaluated in light of important risk factors and uncertainties, some of which are described in the Company's Quarterly, Annual and Current Reports filed with the United States Securities and Exchange Commission (the "SEC"). Should one or more of these risks or uncertainties materialize or should any of the Company's underlying assumptions prove correct, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Company's forward-looking statements. In particular, the Company has acquired its first operational Prosthetics & Orthotics (P&O) clinic and is continuing development efforts for its other biomedical technologies, including a "smart insole" and its Flexisense TM sensing technology with several potential applications. There is no assurance that the Company will be successful in its ongoing expansion and development efforts, or that it will find suitable commercialization partners for its technologies. Except as required by law, Rafina Innovations Inc. disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release. 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. No stock exchange, securities commission or other regulatory body has reviewed nor accepts responsibility for the adequacy or accuracy of this release. Investors are advised to carefully review the reports and documents that Rafina Innovations files from time to time with the SEC, including its Annual, Quarterly and Current Reports.
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