UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
20549
___________________
FORM 8-K
___________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (date of earliest event reported): June 12, 2017
OWC
P
harmaceutical
R
esearch
C
orp.
(Exact Name of
Registrant as Specified in its Charter)
Commission File No.: 0-54856
Delaware | 98-0573566 |
(State of Incorporation) | (I.R.S. Employer Identification No.) |
30 Shacham Street. P.O.B. 8324 Petach Tikva, Israel | 4918103 |
(Address of Principal Executive Offices) | (ZIP Code) |
Registrant's Telephone Number, including area code: 972 (0) 3-758-2657
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 (see General Instruction A.2. below):
¨
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On June 12, 2017, OWC Pharmaceutical Research Corp. (the
"Registrant") accepted the resignation of Shmuel De-Saban as Chief Financial
Officer of the Registrant and its wholly-owned Israeli subsidiary, One World
Cannabis Ltd, positions he has held since his appointment in June 2014. In Mr.
De-Saban's letter of resignation, a copy of which is attached as Exhibit 17.5
hereto, Mr. De-Saban stated that "the reason for my resignation is to permit me
to pursue other business interests. I have had no disagreements with the
operations, policies or practices of the Registrant or its subsidiary."
The Registrant anticipates appointing a new CFO on or about
July 1, 2017, until which date Mr. Mordechai Bignitz, who is the Registrant's
CEO and Chairman and is also a CPA and accountant by education and training,
will serve as Interim CFO.
Item 9.01 Financial Statements and Exhibits.
(a) The following documents are filed as exhibits to
this report on Form 8-K or incorporated by reference herein. Any document incorporated by
reference is identified by a parenthetical reference to the SEC filing that included such
document.
Exhibit
No.
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.
Description
17.5
Letter of Resignation of Mr.
Shmuel De-Saban dated June 12, 2017, filed herewith.
OWC Pharmaceutical Research Corp. | ||
By: /s/ Mordechai Bignitz | ||
Name: Mordechai Bignitz | ||
Title: Chief Executive Officer |
Date: June 14, 2017
Exhibit 17.5
Shmuel De-Saban
June 12, 2017
Board of Directors
OWC Pharmaceutical Research Corp.
30 Shacham Street, P.O.B. 8324
Petach Tikva, 4918103 Israel
Re: Letter of Resignation
Gentlemen:
I hereby resign as Chief Financial Officer of OWC Pharmaceutical Research Corp.
(the "Registrant") and of its wholly-owned Israeli subsidiary, One World
Cannabis Ltd, effective Monday, June 5, 2017. The reason for my resignation is
to permit me to pursue other business interests.
I have had no disagreements with the operations, policies or practices of the
Registrant or its subsidiary.
Yours truly,
/s/:
Shmuel De-Saban
Shmuel De-Saban