Business
Covalon Enters Into Employment Agreement with CEO and Grants Stock Options
Covalon Enters Into Employment Agreement with CEO and Grants Stock Options
About this update from Covalon Technologies Ltd.
[{"type":"text","content":"\n\n\n\n Sep. 3, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\nMISSISSAUGA, ON, Sept. 3 /CNW/ - Covalon Technologies Ltd. (the "Company" or "Covalon") (TSX-V: COV), an advanced medical technologies company, today announced it has finalized an employment agreement with Brian Pedlar, Covalon's recently-appointed CEO.\nMr. Pedlar has been Chief Executive Officer of Covalon since April 5, 2010 working under the terms of an interim consultancy agreement. Covalon's Board of Directors felt that it was appropriate to execute a standard CEO employment agreement that makes Mr. Pedlar a full-time employee of Covalon. The Company also announced it had granted an aggregate of 1,600,000 stock options allocated among Mr. Pedlar and two other senior executive officers of the Company.\n"Covalon's Board of Directors is very satisfied with the progress Brian and the team have made in improving day-to-day operations", said Mr. Martin Bernholtz, Chairman of the Covalon Board. "We are pleased with the leadership Brian has provided in creating the building blocks required to transform Covalon from a pure R & D lab to a medical technology commercialization company geared to partnering with some of the most prominent companies in the medical industry."\n\nAbout Covalon\n\nCovalon Technologies Ltd. is a unique medical technologies company engaged in the research, development, and commercialization of advanced tissue repair applications, infection control, and specialized coatings for medical and consumer products. Together, our technology platforms, wound care products, and consulting services deliver a suite of cost-effective solutions to help our customers achieve product differentiation through improved patient outcomes. Our technologies address important healthcare issues such as infection control, medical device biocompatibility and healthy tissue repair. To learn more about Covalon, visit our website at www.coval...