AIM RULE 26
The following information is disclosed in accordance with Rule 26 of the AIM regulations.
- DESCRIPTION OF THE BUSINESS
- DIRECTORS AND COMMITTEES
- AUDIT COMMITTEE
- COMPENSATION COMMITTEE
- DIRECTORS & CORP. GOVERNANCE
- EXECUTIVE COMMITTEE
- FINANCE COMMITTEE
- INVESTOR RELATIONS
- INCORPORATION & OPERATION
- CURRENT CONSTITUTIONAL DOCS.
The principal activities of AXIM Biotechnologies are the research, development, manufacturing and commercialization of a hemp-derived pharmaceutical, nutraceutical, and oral health and cosmetic products; phytoplants and botanicals; and alternative energy sources.
The Audit Committee represents and assists the Board in fulfilling its oversight responsibilities. These include to the integrity of the Company’s financial statements and the financial reporting process, the systems of internal accounting and financial controls, the internal audit function, and the annual independent audit of the Company’s financial statements. The Audit Committee also oversees:
• the Company’s compliance with legal and regulatory requirements;
• the Independent Auditors’ qualifications and independence;
• the performance of the Company’s internal audit function and the Independent Auditors; and
• the Company’s ethical compliance programs, including the Company’s Codes of Business Conduct; and the Company’s quality, safety, environmental assurance, and information technology security programs.
The Committee periodically receives reports on and discusses governance of the Company’s risk management process and reviews significant risks and exposures identified to the Committee (whether financial, operating or otherwise), and management’s steps to address them. In exercising its duties, the Audit Committee acts independently while maintaining free and open communication between the Committee, the Independent Auditors, the internal auditors and management of the Company.
The Compensation Committee has overall responsibility for evaluating and approving compensation plans, policies and programs applicable primarily to the Company’s senior executive group, which includes all individuals subject to Section 16 of the Securities Exchange Act of 1934, as amended. The Compensation Committee also makes decisions that affect a larger group of employees. For example, the Compensation Committee approves all stock option awards and all awards of performance share units, restricted stock and restricted stock units to employees. The Compensation Committee has the sole authority to retain and terminate a compensation consultant, as well as to approve the consultant’s fees and other terms of engagement. It also has the authority to obtain advice and assistance from internal or external legal, accounting or other advisors. The Compensation Committee may form and delegate authority to subcommittees, including management subcommittees, when appropriate.
The Committee on Directors and Corporate Governance is responsible for considering and making recommendations concerning Director nominees and the function and needs of the Board and its committees. The Committee on Directors and Corporate Governance also leads the annual review of the Board’s performance and the regular review and development of the Company’s Corporate Governance Guidelines. The Chairman of the Committee on Directors and Corporate Governance is designated as the Presiding Director.
The Executive Committee has the authority to exercise the power and authority of the Board between meetings, except the powers reserved for the Board or the shareowners by Delaware General Corporation Law. If matters are delegated to the Committee by the Board, the Committee typically acts by written comment in lieu of a meeting.
The Finance Committee helps the Board fulfill its responsibilities relating to oversight of the Company’s financial affairs, including reviewing and recommending to the Board dividend policy, capital expenditures, debt and other financings; major strategic investments; and other transactions. The Finance Committee also oversees the Company’s policies and procedures on hedging, swaps, risk management and other derivative transactions.
The IR-Committee oversees all interactions between the Company and the Investors, including all content published or otherwise transmitted during official business operations. The Committee is responsible to assure transparency of information and protection of Material Information content thus avoiding any favoritism in the Company toward Investors or Public interactions.
AXIM Biotechnologies, Inc. is incorporated in the USA which is also its main country of operation.
Code of Ethics:
• We shall have No other interest’ in mind but these of our customers, employees and our shareholders.
• While espousing the advantages of innovative thinking and extensive R&D we will strive to bring our discoveries to the general public and generate industry standards in our fields of interest.
• We will not circulate any unconfirmed information which could deceive our shareholders or the public at large. Strict confidentiality on material information will be maintained by Management and Employees of the company.
• We will utilize only organically procured raw ingredients, assuring verification of highest quality and consistency of products on DNA and nano-level. We will assure that the environment where our products are grown is cared of in accordance with the highest possible local and international environmental-safety standards. We will assure that our producers are treated with respect and that they treat with respect the environment where they are procuring our raw ingredients.
• We will not work with producers who have questionable reputation or who utilize methods for harvest including chemicals or who cause environmental pollution as a consequence to their activities.
• We will not perform any unnecessary testing on animals and are against animal cruelty under any circumstances.
• We will not engage in any activities which violate the US FDA or EU EMEA standards or GMP recommendations.
• We are strictly a biotechnology company and will NOT get involved in any political activities related to legalization or decriminalization of marijuana in the US or Internationally.
Corporate Governance Guidelines:
Rights and equitable treatment of shareholders:
AXIM Biotechnologies, Inc. respects the rights of shareholders and help shareholders to exercise those rights. The company helps and encourages the shareholders to exercise their rights by openly and effectively communicating relevant information and would like to motivating shareholders to participate in general meetings and discussions.
Interests of other stakeholders:
We recognize that we have legal, contractual, social, and market-driven obligations to non-shareholder stakeholders, including employees, investors, creditors, suppliers, local, national and international communities, environment, customers, and policy makers.
Role and responsibilities of the board:
We will assure that our Board of Directors posses’ sufficient relevant skills and understanding to be able to review and challenge management’ performance. We will strive to provide adequate size and appropriate levels of independence and commitment of the Board.
Integrity and ethical behavior:
We recognize that Integrity is a fundamental requirement in choosing Corporate Officers and Board Members. We will strictly adhere to the Code of Business Conduct developed for our Directors and Executives that demands ethical and responsible decision making.
Disclosure and transparency:
The Company will clarify and make publicly known the roles and responsibilities of the Board and Management, thus providing stakeholders with accountability. The Company will implement all required procedures to independently verify and safeguard the integrity of the Company’s financial reporting via internal and external controls and independent auditing mechanisms. Disclosure of material information (Fair Disclosure) concerning the organization will be timely and balanced to ensure that all investors have access to clear and factual information.
Code of Business Conduct:
• In the core of our business model lays integrity. It is present in our daily activities on all levels.