Redwood Scientific Technologies Inc. (RSCI. OTC. PK) Issues Correction Regarding Agreement with Silk Road Ent., Inc.

NEW YORKAug. 15, 2023 /PRNewswire/ -- Redwood Scientific Technologies Inc. wishes to correct a previous press release issued on July 19th. Contrary to the previous statement, the arrangement between Redwood Scientific Technologies Inc. and Silk Road Ent., Inc. was not a partnership agreement. Rather, it was accurately termed a "Marketing Consulting Agreement."

Effective immediately, Redwood Scientific Technologies Inc. has formally notified Silk Road Ent., Inc. of the cancellation of the aforementioned "agreement." Furthermore, Silk Road Ent., Inc. has been informed that they are and have been prohibited from engaging in any marketing, promotion, or sale of Redwood Scientific Technologies Inc.'s products that are currently in the premarket development stage.

Jason Cardiff, CEO of Redwood Scientific Technologies Inc., commented on the cancellation, stating, "Redwood maintains its unwavering confidence in its ability to adhere to all regulatory requirements set forth by relevant agencies in the process of bringing our products to market. This includes ensuring the establishment of the most advantageous partnerships for the benefit of our valued shareholders."

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