Therapix Biosciences Clarifies It Has Terminated The Employment Of All Of Its Employees Except For The Company's Interim Chief Executive Office

In response to numerous questions and requests for additional information from the shareholders of Therapix Biosciences Ltd. (the “Company”), following the Company’s previous Report on Form 6-K dated

Benzinga · 01/08/2020 21:20

In response to numerous questions and requests for additional information from the shareholders of Therapix Biosciences Ltd. (the “Company”), following the Company’s previous Report on Form 6-K dated January 2, 2020, the Company would like to clarify that while it has terminated the employment of all of its employees except for the Company’s Interim Chief Executive Officer, Dr. Ascher Shmulewitz, the Company has not initiated any bankruptcy or liquidation proceedings and has no current intentions. The termination of the Company’s employees was carried out in order to preserve capital while the Company pursues strategic and additional fund raising opportunities, including the potential previously announced business combination transaction with Heavenly Rx, Ltd.

 

All employees of the Company will continue to be employed by the Company through their respective termination notice periods, which is at least through the end of January 2020. The Company’s Chief Financial Officer and Chief Technologies Officer each have a notice period of three months, and accordingly will remain in office until the end of March 2020. Subject to securing additional funding, the Company intends to re-employ necessary employees to continue the Company’s operations.