NEW YORK – As previously disclosed on July 26th, 2019, the Securities and Exchange Commission (“Commission”) announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), of trading in the securities (the “Trading Suspension”) of BioHemp International (“BioHemp”) (OTC: BKIT) of New York, NY at 9:30 a.m. EDT on July 26, 2019, and terminating at 11:59 p.m. on August 8th, 2019. BKIT is currently communicating and fully cooperating with the Commission to seek the removal of the Trading Suspension and to permit a resumption of trading on the OTC Pink market.
The Commission temporarily suspended trading in the securities of BioHemp because of questions about the accuracy and adequacy of information publicly disseminated concerning BioHemp, including, among other things, potentially manipulative or deceptive activity relating to the Company. The Commission stated that it also appeared that there was a lack of current and accurate information concerning the securities of BioHemp because of questions regarding the accuracy of assertions by BioHemp and by others in press releases and/or cold calls to investors concerning, among other things, the anticipated value of BioHemp stock.
Neither the Company nor any of its officers, directors, advisors, consultants, or related parties have engaged in any of the activities described by the Commission. Additionally, the Company is working diligently with the appropriate regulatory bodies to address these issues. The Company continues to implement its business plan of creating a distribution platform for CBD providers. The Company will update the shareholder community about resolving any outstanding issues relating to this matter at the appropriate time, as well as the Company’s progress in achieving its business plan.
For more information, view the Company’s website www.BioHempInternational.com.
About BioHemp International, Inc.
BioHemp International (OTC: BKIT) is a Company focused on rolling up a distribution platform for CBD providers to become the leading consolidation force in the CBD industry.