Former CEO of Aethlon Medical,
(NASDAQ: $AEMD) Leads new #Medtech Company Sigyn Therapeutics; Company Merges into Reign
Resources Corporation (OTCMARKETS: $RGNP)
LOS ANGELES, CA, September 11, 2020 (Investorideas.com newswire) Breaking Medical Tech/ Covid- 19 stock news - Reign Resources Corporation (“Reign”) (OTCMARKETS: RGNP) announced today that the Company has approved a share exchange agreement with Sigyn Therapeutics, Inc., a privately held medical technology company focused on the treatment of life-threatening inflammatory conditions. As reported in a Schedule 14C Information statement filed today with the U.S. Securities and Exchange Commission (SEC) and a Form 8-K filed on August 31, 2020, Reign resources will acquire all of the outstanding capital stock of Sigyn Therapeutics in exchange for shares of Reign common stock representing approximately 75 percent of Reign’s outstanding common stock. The Schedule 14C Information statement and Form 8-K can be accessed at www.SEC.gov.
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Upon completion of the merger, Reign will be renamed
Sigyn Therapeutics, Inc. and will be led by Sigyn co-founder Jim Joyce, who will
serve as Chairman and CEO of the combined company. Sigyn Therapeutics will be
focused on addressing a significant unmet need in global health; the treatment
of life-threatening inflammatory conditions that are precipitated by Cytokine
Storm Syndrome (“The Cytokine Storm” or “CSS”) and not addressed with an
approved therapy. The annual market opportunity for a therapeutic strategy to
prevent or mitigate CSS has been reported to exceed $20 billion.
Additional announcements regarding the combined company’s management structure,
Board of Directors and Science Advisory Board will be forthcoming.
Sigyn Therapy™ is a development-stage blood
purification technology designed to overcome the limitations of previous drugs
and devices to treat life-threatening inflammatory conditions, including
sepsis, which is the #1 cause of hospital deaths. The mechanism of Sigyn
Therapy allows for a broad-spectrum of inflammatory targets to be depleted from
the bloodstream. Among the targets are inflammatory cytokines, cytokine
aggregates, endotoxin and CytoVesicles that transport cytokines and other
inflammatory cargos.
Beyond sepsis, Cytokine Storm related therapeutic
opportunities include, but are not limited to virus induced Cytokine Storm (a
leading cause of COVID-19 deaths), bacteria induced Cytokine Storm, acute
respiratory distress syndrome (ARDS) and acute forms of liver failure,
including hepatic encephalopathy. Sigyn Therapy may also be a candidate
to stabilize or extend the life of patients waiting for the identification of a
matched liver for transplantation. In such a scenario, Sigyn Therapy™
would serve as a bridge-to-liver transplant. Cytokine Storm Syndrome can also
result from trauma, severe burns, acute pancreatitis, adverse drug reactions,
cancer immunotherapies, cancer cachexia, acute kidney injury (AKI) and severe
pneumonia.
Other Corporate Highlights
·
Sigyn’s co-founders
have 50+ years of experience in the medical technology field and played
instrumental roles in the development of three technologies that have been
cleared by the FDA to treat COVID-19 infected individuals.
·
Jim Joyce, the
Chairman and CEO of Sigyn Therapeutics, has two decades of public company CEO
and Board leadership experience. Specific to therapeutic blood
purification, Mr. Joyce was the founder, Chairman and CEO of Aethlon Medical,
( NASDAQ: AEMD) a company that he navigated from a single shareholder start-up to
Nasdaq-traded Company with 8,000+ shareholders.
·
Sigyn Therapy
aligns with U.S. government initiatives to support broad-spectrum treatment
countermeasures that mitigate life-threatening conditions resulting from
pandemic outbreaks such as COVID-19.
·
A deep pipeline of
pre-clinical, clinical and regulatory milestones are planned over the next
12-18 months.
About Sigyn Therapeutics
Sigyn Therapeutics is a development-stage therapeutic
technology company headquartered in San Diego, California USA. Our focus is
directed toward a significant unmet need in global health; the treatment of
life-threatening inflammatory conditions that are precipitated by Cytokine
Storm Syndrome and not addressed with an approved therapy. Our mission is to
save lives.
Sigyn Therapy™ is a patent pending blood purification
technology designed to mitigate cytokine storm syndrome through the
broad-spectrum depletion of inflammatory targets from the bloodstream. Cytokine
storm syndrome is the hallmark of sepsis, which is the most common cause of
in-hospital deaths and claims more lives each year than all forms of cancer
combined. Virus induced cytokine storm (VICS) is associated with high
mortality and is a leading cause of SARS-CoV-2 (COVID-19) deaths. Other
therapeutic opportunities include, but are not limited to bacteria induced
cytokine storm (BICS), acute respiratory distress syndrome (ARDS) and acute
forms of liver failure, such as hepatic encephalopathy.
To learn more, visit www.SigynTherapeutics.com or www.SigynTherapy.com
About Reign Resources
Corporation
Reign Resources Corp. is a Los Angeles-based, gold
exploration company with a specific focus on the Bendigo & Ballarat regions
in Victoria, Australia.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements
of Reign Resources Corporation. (“Reign”) that involve substantial risks and
uncertainties. All statements contained in this press release are
forward-looking statements within the meaning of The Private Securities
Litigation Reform Act of 1995. The words “could,” “will,” “plan,” “intend,”
“anticipate,” “approximate,” “expect,” “potential,” or the negative of these
terms or other similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain these
identifying words. These forward-looking statements include, among others,
statements about Reign’s future financial performance, the impact of management
changes, any proposed organizational restructuring, results of operations,
capital resources to fund operations; statements about Reign’s expectations
regarding the capitalization, resources and ownership structure of the combined
company; statements about the potential benefits of the transaction; the
expected completion and timing of the transaction and other information
relating to the transaction; and any other statements other than statements of
historical fact. Actual results or events could differ materially from the
plans, intentions and expectations disclosed in the forward-looking statements
that Reign makes due to a number of important factors, including (i) the risk
that the transaction may not be completed in a timely manner or at all, which
may adversely affect Reign’s business and the price of the common stock of
Reign, (ii) the failure to satisfy of the conditions to the consummation of the
transaction, (iii) the occurrence of any event, change or other circumstance
that could give rise to the termination of the merger agreement, (iv) risks
related to the ability to realize the anticipated benefits of the transaction,
including the risk that the businesses will not be integrated successfully, (v)
the effect of the announcement or pendency of the transaction on Reign’s
business relationships, operating results and business generally, (vi) risks
that the proposed transaction disrupts current plans and operations, (vii)
risks related to the combined entity’s ability to uplist to a national
securities exchange, (viii) risks related to the combined entity’s access to
existing capital and fundraising prospects to fund its ongoing operations, (ix)
risks related to diverting management’s attention from Reign’s ongoing business
operations, (x) other business effects, including the effects of industry,
market, economic, political or regulatory conditions, future exchange and
interest rates, and changes in tax and other laws, regulations, rates and
policies, and (xi) the outcome of any legal proceedings that may be instituted
against Reign related to the merger agreement or the transaction. Further risks
that could cause actual results to differ materially from those matters
expressed in or implied by such forward-looking statements are discussed in
“Risk Factors” and elsewhere in Reign’s Quarterly Report on Form 10-Q for the
quarter ended June 30, 2020 and other reports filed with the SEC. The
forward-looking statements in this press release represent Reign’s views as of
the date of this press release. Reign anticipates that subsequent events and
developments will cause its views to change. However, while it may elect to
update these forward-looking statements at some point in the future, it
specifically disclaims any obligation to do so. You should, therefore, not rely
on these forward-looking statements as representing Reign’s views as of any
date subsequent to the date of this press release.
Contact Reign Resources
Corporation
Joseph Segelman
CEO
(213) 457 3772
Contact Sigyn Therapeutics,
Inc.
Jim Joyce
Chairman, CEO
(619) 368-2000
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