U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form
Current Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of small business issuer as specified in its charter)
|
(State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer ID No.) |
(Address of principal executive offices)
(Issuer’s Telephone Number)
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered |
| N/A | N/A | N/A |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
| Item 3.02 | Unregistered Sale of Equity Securities |
Effective December 20, 2021, we issued 2,904,833 shares of our Common Stock in favor of RB Capital Partners, Inc. (“RB Capital”) in connection with the conversion of $1,361,000 in convertible debt at an average conversion price of $0.47 per share.
We relied upon the exemption from registration provided by Section 4/2 as promulgated under the Securities Act of 1933, as amended, to issue these shares.
| Item 7.01 | Regulation FD Disclosure |
Attached is a copy of a press release being issued by us relating to the issuance of the shares and corresponding reduction of debt more fully described in Item 3.02 above herein, which is attached as Exhibit 99.1 and is hereby incorporated.
| Item 9.01 | Financial Statements and Exhibits |
(b) Exhibits. The following exhibits are included in this report:
| No. | Description | |
| 99.1 | Press Release announcing the issuance of the shares and corresponding reduction of debt. | |
| 104 | Cover Page Interactive Data File (formatted in iXBRL) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: December 22, 2021 | SUNSHINE BIOPHARMA, INC. |
| (Registrant) | |
| By: s/ Dr. Steve N. Slilaty | |
| Dr. Steve N. Slilaty, Chief Executive Officer |
| 3 |
Exhibit 99.1

For Immediate Release
December 22, 2021
Sunshine Biopharma Announces $1,361,000 in Debt Reduction
Montreal, Quebec, Canada – (GLOBE NEWSWIRE) – Sunshine Biopharma Inc. (OTC PINK: “SBFM”), a pharmaceutical company focused on the research, development and commercialization of oncology and antiviral drugs, today announced that on December 20, 2021, the Company issued 2,904,833 shares of Common Stock in favor of RB Capital Partners, Inc. (“RB Capital”) in connection with the conversion of $1,361,000 in convertible debt at an average conversion price of $0.47 per share. The total debt remaining on the books of the Company is $1,900,000 convertible at an average price of $0.30 per share with maturity dates in April, July and August 2023.
“This debt conversion strengthens the financial condition of the Company and conserves the cash on hand for our ongoing research and development activities of our antiviral and anticancer drugs,” said, Camille Sebaaly, CFO of Sunshine Biopharma. “We thank RB Capital for believing in us and for their continued support,” he added.
About Sunshine Biopharma
Severe Acute Respiratory Syndrome-Coronavirus-2 (SARS-CoV-2) is the causative agent of the ongoing COVID-19 pandemic that has claimed the lives of over 5.3 million people worldwide since it first appeared in December 2019. There are currently no drugs that can effectively arrest replication of the virus in people who have contracted the illness. Sunshine Biopharma has completed the synthesis of four potential inhibitors of PLpro and subsequently identified a lead compound, SBFM-PL4. The Company is currently advancing the development of SBFM-PL4 in collaboration with the University of Georgia, College of Pharmacy.
In addition, to working on the development of a treatment for COVID-19, Sunshine Biopharma is engaged in the development Adva-27a, a unique anticancer compound. Tests conducted to date have demonstrated the effectiveness of Adva-27a at destroying Multidrug Resistant Cancer Cells, including Pancreatic Cancer cells, Small-Cell Lung Cancer cells, Breast Cancer cells, and Uterine Sarcoma cells. Clinical trials for Pancreatic Cancer indication are planned to be conducted at McGill University’s Jewish General Hospital in Montreal, Canada. Sunshine Biopharma is owner of all patents and intellectual property pertaining to Adva-27a.
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Safe Harbor Forward-Looking Statements
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to general stock market conditions. Reference is hereby made to cautionary statements set forth in the Company's most recent SEC filings. We have incurred and will continue to incur significant expenses in our expansion of our existing as well as new service lines noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations we will be providing services in, the impact of which cannot be predicted at this time.
For Additional Information Contact:
Camille Sebaaly, CFO
Sunshine Biopharma Inc.
Direct Line: 514-814-0464
camille.sebaaly@sunshinebiopharma.com
www.sunshinebiopharma.com
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Cover |
Dec. 20, 2021 |
|---|---|
| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Dec. 20, 2021 |
| Entity File Number | 000-52898 |
| Entity Registrant Name | SUNSHINE BIOPHARMA, INC. |
| Entity Central Index Key | 0001402328 |
| Entity Tax Identification Number | 20-5566275 |
| Entity Incorporation, State or Country Code | CO |
| Entity Address, Address Line One | 6500 Trans-Canada Highway |
| Entity Address, Address Line Two | 4th Floor |
| Entity Address, City or Town | Pointe-Claire |
| Entity Address, State or Province | QC |
| Entity Address, Country | CA |
| Entity Address, Postal Zip Code | H9R0A5 |
| City Area Code | (514) |
| Local Phone Number | 426-6161 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Entity Emerging Growth Company | true |
| Elected Not To Use the Extended Transition Period | false |
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