Business
Quest PharmaTech Completes $200,000 Equity Investment and announces Director Slate for the 2006 AGM.
Quest PharmaTech Completes $200,000 Equity Investment and announces Director Slate for the 2006 AGM..
About this update from Quest Pharmatech Inc.
[{"type":"text","content":"\n\n\n\n\nTrading Symbol: QPT: TSX Venture Exchange\n\nEDMONTON, Oct. 30 /CNW/ - Quest PharmaTech Inc. (\"Quest\" or the\n\"Company\") is pleased to announce that it has completed the $200,000 equity\ninvestment with KMH Co., Ltd. (\"KMH\") to issue 1,000,000 common shares of\nQuest, at a premium share price of $0.20. The common shares have a 4 month\nhold period expiring February 26, 2007. This is part of a business arrangement\nentered into between KMH and the Company to market SL017 for cosmetic hair\nremoval applications in Asia.\nQuest also announces management's nominations for election to its Board\nof Directors at its upcoming Annual General Meeting of Shareholders. The slate\nincludes Dr. Bin Huang, Ph.D., MBA.\nDr. Huang has been Director of IP and Business Development of Chemokine\nTherapeutics since October, 2006. She was Chief Executive Officer of\nGeneHarbor Technologies Limited Between 2004 and 2006 and President and CEO of\nCytovax Biotechnologies Inc. between 1999 and 2004. Prior to Cytovax, Dr.\nHuang worked as Vice President of Business Development for Monsanto Canada and\nVice President of Research and Development of Lorus Therapeutics Inc., a\npublicly traded Canadian biotech company. Dr. Huang has also worked as a\nbiotechnology analyst and was a partner with GMP Securities, a Toronto\ninvestment dealer, and has acted as a director of several Canadian\nbiotechnology companies.\nIn keeping with good Corporate Governance practices and the Company's\ncommitment to create a more independent board, Dr. Madi R. Madiyalakan, the\nCompany's Chief Executive Officer, will remain as the sole management\nrepresentative on the Board of Directors.\nThe Company wishes to thank outgoing Board members Dr. David Cox, Mr.\nRichard Smith and Dr. Selvaraj Naicker for their efforts and commitment to the\nCompany. Their knowledge and experience will be missed. Dr. Naicker continues\nto be an officer of the Company responsible for its drug development\nactivities.\nThe complete list of Director nominations is as follows (alphabetical\norder):\nDr. Bin Huang, PhD, MBA\nDr. Ragupathy (Madi) Madiyalakan, PhD\nMr. Ian McConnan, FCA\nDr. Donald J Rix, MD\n\nThe Company's Annual General Meeting of Shareholders will be held at 2:00\npm on the 7th of December, 2006 at the Greenwood Inn at 4485 Gateway Blvd,\nEdmonton, Alberta. Information...