Business
Bioasis Implements Transition Plan for Its Board of Directors
Bioasis Implements Transition Plan for Its Board of Directors.
About this update from Bioasis Technologies Inc.
[{"type":"text","content":"\n \n BIOASIS \n TECHNOLOGIES INC. (OTCQB:BIOAF; TSX.V:BTI), a biopharmaceutical \n company focused on the delivery of therapeutics across the blood-brain \n barrier (BBB) and into the central nervous system for the treatment of \n neurological diseases and disorders, today announced that Rob Hutchison \n and Michael Hutchison have submitted their planned resignations from the \n board. Ron Erickson has also resigned from the board.\n \n \n Today's announcement is another step in the company’s leadership \n transition plan. All three resignations are effective immediately. The \n company intends to fill the vacancies created by these resignations with \n new, highly qualified, independent directors. In identifying potential \n new directors, the company will prioritize candidates who have \n significant and long-term technical and business-specific experience \n within the biotech and pharmaceutical industries. Until suitable \n replacement directors are found, the vacancies created by the \n resignations will remain open. Further information regarding the \n transition plan will be provided as events warrant.\n \n \n “Rob, Michael and Ron have been supportive of bringing in a new CEO and \n the transition of the new management team. To further enable this, they \n have offered their resignations to help facilitate the selection and \n implementation of new directors on the board,” said Mark Day, Ph.D., \n president and chief executive officer, Bioasis. “On behalf of the board \n and the company, I would like to thank them for their leadership and \n positive support of the company during their long and valued tenure and \n wish them the very best in their future endeavors.”\n \n \n The company also announces that it has granted 1,910,000 options to \n purchase common shares of the company at an exercise price of $0.71 per \n share to the three new directors and two of the key employees who \n recently joined the company. Collectively they bring needed experience \n in alliance management, corporate affairs and capital raising specific \n to the biotechnology and pharmaceutical industries. The stock options \n have been granted under the company's stock option plan, have a \n five-year term and are subject to certain vesting provisions.\n \n \n About Bioasis\n \n \n Bioasis Technologi...