EX-99.1
2
pbsv_ex991.htm
PRESS RELEASE
Blueprint
Exhibit 99.1
Pharma-Bio Serv Announces Closing of Laboratory Assets Sale for $5
Million
September 21, 2018
DORADO, PUERTO RICO / ACCESSWIRE / September 21, 2018 /
Pharma-Bio Serv, Inc. (Pharma-Bio Serv
or the Company) (OTCQB: PBSV), today announced it has completed the
sale of substantially all of the assets of its laboratory business
to Romark Global Pharma, LLC for $5 million ($2.0 million in cash,
and $3.0 million in the form of a promissory note payable over two
years). The transition period was smoothly completed, operations
were closed and employees were transitioned out as
planned.
"With the completion of the sale, we move forward with our
strategy to concentrate our focus and efforts on our core
consulting business, and streamline our operating segments,"
said Victor Sanchez, CEO of Pharma-Bio Serv.
About Pharma-Bio Serv, Inc.
Pharma-Bio Serv is a compliance, project management, and technology
transfer support consulting
firm, headquartered in Puerto Rico, with operations in the U.S.,
Ireland, and Spain. Pharma-Bio Serv's core business is FDA and
other international regulatory compliance agency related services.
The Company's global team includes leading engineering and life
science professionals, quality assurance managers and
directors.
Forward-Looking Statements
This news release contains "forward-looking statements" within the
meaning of the U.S. federal securities laws, which statements may
include information regarding the plans, intentions, expectations,
future financial performance, or future operating performance of
Pharma-Bio Serv. Forward-looking statements are based on the
expectations, estimates, or projections of management as of the
date of this news release. Although Pharma-Bio Serv's management
believes these expectations, estimates, or projections to be
reasonable as of the date of this news release, forward-looking
statements are inherently subject to significant business risks,
economic and competitive uncertainties, or other contingencies,
which could cause its actual results or performance to differ
materially from what may be expressed or implied in the
forward-looking statements. Important factors that could cause
Pharma-Bio Serv's actual results or performance to differ
materially from the forward-looking statements include those set
forth in the "Risk Factors" section of Pharma-Bio Serv's Annual
Report on Form 10-K for the year ended October 31, 2017, and in its
other filings with the Securities and Exchange Commission, which
filings are available on
www.sec.gov.
Pharma-Bio Serv disclaims any intention or obligation to update or
revise any forward-looking statements to reflect subsequent events
and circumstances, except to the extent required by applicable
law.
Company Contact:
Pedro J. Lasanta
Chief Financial Officer
787 278 2709
SOURCE:
Pharma-Bio Serv,
Inc.

EX - 99 . 1 2 pbsv _ ex991 . htm PRESS RELEASE Blueprint Exhibit 99 . 1 Pharma - Bio Serv Announces Closing of Laboratory Assets Sale for $ 5 Million September 21 , 2018 DORADO , PUERTO RICO / ACCESSWIRE / September 21 , 2018 / Pharma - Bio Serv , Inc . ( Pharma - Bio Serv or the Company ) ( OTCQB : PBSV ) , today announced it has completed the sale of substantially all of the assets of its laboratory business to Romark Global Pharma , LLC for $ 5 million ( $ 2.0 million in cash , and $ 3.0 million in the form of a promissory note payable over two years ) . The transition period was smoothly completed , operations were closed and employees were transitioned out as planned . " With the completion of the sale , we move forward with our strategy to concentrate our focus and efforts on our core consulting business , and streamline our operating segments , " said Victor Sanchez , CEO of Pharma - Bio Serv . About Pharma - Bio Serv , Inc . Pharma - Bio Serv is a compliance , project management , and technology transfer support consulting firm , headquartered in Puerto Rico , with operations in the U . S . , Ireland , and Spain . Pharma - Bio Serv 's core business is FDA and other international regulatory compliance agency related services . The Company 's global team includes leading engineering and life science professionals , quality assurance managers and directors . Forward - Looking Statements This news release contains " forward - looking statements " within the meaning of the U . S . federal securities laws , which statements may include information regarding the plans , intentions , expectations , future financial performance , or future operating performance of Pharma - Bio Serv . Forward - looking statements are based on the expectations , estimates , or projections of management as of the date of this news release . Although Pharma - Bio Serv 's management believes these expectations , estimates , or projections to be reasonable as of the date of this news release , forward - looking statements are inherently subject to significant business risks , economic and competitive uncertainties , or other contingencies , which could cause its actual results or performance to differ materially from what may be expressed or implied in the forward - looking statements . Important factors that could cause Pharma - Bio Serv 's actual results or performance to differ materially from the forward - looking statements include those set forth in the " Risk Factors " section of Pharma - Bio Serv 's Annual Report on Form 10 - K for the year ended October 31 , 2017 , and in its other filings with the Securities and Exchange Commission , which filings are available on www.sec.gov . Pharma - Bio Serv disclaims any intention or obligation to update or revise any forward - looking statements to reflect subsequent events and circumstances , except to the extent required by applicable law . Company Contact : Pedro J . Lasanta Chief Financial Officer 787 278 2709 SOURCE : Pharma - Bio Serv , Inc .