On August 5, 2016, Neurotrope, Inc announced that it has reached a settlement agreement with Iroquois Master Fund Ltd. and certain of its affiliates with regard to a proposed consent solicitation by Iroquois. As part of the settlement, Paul E. Freiman and Jay M. Haft resigned from the Board of Directors of the Company effective immediately. The Board appointed Mr. Joshua Silverman Chairman of the Board and Dr.Kenneth J. Gorelick to the Board effective immediately.