Portage provides clarification re: audit

TORONTO, Nov. 1, 2019 /CNW/ - Portage Biotech Inc. (CSE: PBT.U, OTC Markets: PTGEF) ("Portage" or the "Company") wishes to clarify certain disclosures made in its news release issued on October 31, 2019 regarding completion of its 2019 audit.

As disclosed in yesterday's release, the outstanding 2019 audit requires certain accounting issues to be resolved before the Company's financial statements can be finalized. These issues are the sole responsibility of the Company and its management. The Company's auditors, Marcum LLP, are independent of management and do not provide advice or direction regarding resolution of these matters. Their audit report will only be released when they have concluded that the financial statements are presented fairly, in all material respects, in conformity with the financial reporting framework applicable to the Company.

The Company is continuing to work towards finalizing its 2019 financial statements and will provide further updates in due course.

Forward-Looking Statements

This news release contains statements about the Company's information that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties.  Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. We seek Safe Harbor.

SOURCE Portage Biotech Inc.