KBL Merger Corp. (NASDAQ, KBLMKBL, KBLMR, KBLMW) (“KBL”), a special purpose acquisition company (“SPAC”) that previously announced the agreement to acquire 180 Life Sciences Corp., today announced postponement of the special meeting of its stockholders (the “Special Meeting”) to November 5, 2020. KBL determined to postpone the Special Meeting (originally scheduled for Monday, October 26, 2020) so that it better aligns with anticipated timing of the proposed business combination with 180 Life Sciences. As a result of this change, the Special Meeting will now be held at 10:00 a.m., local time, on November 5, 2020, at the offices of KBL located at 30 Park Place, Suite 64B, New York, NY 10007. Also as a result of this change, the date and time by which stockholders seeking to exercise redemption rights must tender their public shares physically or electronically and submit a request in writing that KBL redeem their public shares for cash to KBL’s transfer agent, Continental Stock Transfer & Trust Company, is being extended to 5:00 p.m. Eastern Time on November 3, 2020.
In addition, 180 Life Sciences today announced the availability of a broadcast titled “Banking on the Next Blockbuster Drug.” The broadcast covers the company’s placement in an editorial published by NetworkNewsWire (“NNW”), one of 50+ brands in the InvestorBrandNetwork (“IBN”), a multifaceted financial news and publishing company for private and public entities. The piece discusses enormous amounts of time and money that pharmaceutical companies invest into the research and development of new drugs, and rare occasions when these are approved and generate more than $1 billion per year in sales, a benchmark in the industry commonly called a “blockbuster.” The piece discusses 180 Life Sciences team’s significant expertise in developing new therapeutics that were sold to big pharma for billions. Renowned for development of some of the largest-selling drugs to ever come to market, the team aims to “do it again with a pipeline of drug candidates in sequential stages of development that address large untapped markets. The founding scientists at 180 Life Sciences discovered the anti-TNF drug class that led to Remicade, the fourth all-time best-selling drug in the world.”
About KBL Merger Corp. IV
KBL Merger Corp. is a blank check company that raised $115 million with the goal of identifying and acquiring a company with a strong value proposition mainly in the U.S. health care industry. KBL Merger Corp. focused on this industry due to its management’s deep experience in this large, growing segment of the U.S. economy. Marlene Krauss, MD is the CEO of KBL Merger Corp. This is Dr. Krauss’ fourth SPAC in the healthcare space. She has invested more than $1 billion through three institutional venture capital funds, numerous IPOs and three prior SPACS. For more information, visit www.KBLMerger.com.
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