Radient Pharmaceuticals Confirms Annual Meeting of Shareholders on December 3, 2010
November 11 2010 - 8:45AM
Marketwired
Radient Pharmaceuticals Corporation (RPC) (NYSE Amex: RPC)
announced today its Annual Meeting of Shareholders will be held at
10:00 a.m. PST on Friday, December 3, 2010 at the Company's
corporate offices located at 2492 Walnut Ave., Suite 100 in Tustin,
California.
Shareholders of record (record date: October 13, 2010) will
receive a Proxy Statement and ballot via United States postal mail
shortly after the anticipated mailing date of November 11, 2010.
The Company's definitive proxy statement was filed with the
Securities and Exchange Commission on November 11, FY2010 and is
available at www.sec.gov.
RPC executive management team and board of directors will be
present to review RPC's progress to date, current business
activities and go-forward growth plans. This includes details on
RPC's recent business and operational changes which focus on the
development, manufacture and marketing of advanced medical
diagnostic products including its Onko-Sure® IVD cancer test. Under
this revised path, RPC's executive management remains confident it
can build a highly improved balance sheet and position RPC as a
fast-growing and profitable enterprise. In support of its strategy,
RPC's Board of Directors will seek stockholder approval at its
Annual Stockholders Meeting for the execution of a financial
stabilization plan through (but not limited to) the following
initiatives:
- Approval of the issuance of RPC's common stock issuable upon
the full exchange and cancellation of a majority of the Company's
outstanding notes and loans;
- Approval of the issuance of shares, underlying notes and
warrants issued in financings the Company completed in the first
and second quarter of FY2010;
- Approval of the issuance of shares and underlying warrants
issued in the Registered Direct Offering the Company completed in
November FY2009;
- Increasing the Company's authorized capital; and,
- Lastly, creating a new 2010 stock option plan to incentivize
management and employees to drive RPC's In vitro Diagnostics
("IVD") business to new heights in sales and profitability in
FY2010 and beyond.
RPC Executive Chairman and CEO Douglas MacLellan commented,
"It's very important all RPC shareholders return their proxies in
time to be voted at this meeting. Over the past 12 months we've
made marked progress in our business, and more specifically, with
the international commercialization of RPC's Onko-Sure® In Vitro
Diagnostic Cancer test. The approval of actions set forth in our
Proxy Statement will greatly enhance our ability to reach key goals
and allow us to maintain, and then improve, our cash position. This
may also prevent many of our note holders from declaring a default
and causing RPC to pay significant amounts in cash."
Mr. Ariel Imas, Co-President Capital Markets & Investment
Banking of the Avalon Group Ltd. will manage RPC's proxy
solicitation efforts. Mr. Imas can be reached via phone at
212-624-9292 or email at aimas@avalongroupltd.com. Shareholders
wishing to download, print and fax a copy of RPC's Proxy Statement
and proxy ballot rather than send via postal mail may do so by
contacting RPC Investor Relations for a downloadable copy of the
proxy. RPC's corporate fax number is +1 (714) 505-4464.
RPC Contact Information: For additional
information on Radient Pharmaceuticals, ADI and its portfolio of
products visit the Company's corporate website at
www.Radient-Pharma.com. For Investor Relations information contact
Kristine Szarkowitz at IR@Radient-Pharma.com or 1.206.310.5323.
About Radient Pharmaceuticals:
Headquartered in Tustin, California, Radient Pharmaceuticals is
dedicated to saving lives and money for patients and global
healthcare systems through the deployment of its FDA-cleared In
Vitro Diagnostic Onko-Sure® Test Kits for colon-rectal cancer
recurrence monitoring. The company's focus is on the discovery,
development and commercialization of unique high-value diagnostic
tests that help physicians answer important clinical questions
related to early disease-state detection, treatment strategy and
the monitoring of disease progression or recurrence. To learn more
about our company, people and potentially life-saving cancer test,
visit www.radient-pharma.com.
Forward-Looking Statements: Safe Harbor
Statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this document include certain
predictions and projections that may be considered forward-looking
statements under securities law. These statements involve a number
of important risks and uncertainties that could cause actual
results to differ materially including, but not limited to, the
performance of joint venture partners, as well as other economic,
competitive and technological factors involving the Company's
operations, markets, services, products, and prices. With respect
to Radient Pharmaceuticals Corporation, except for the historical
information contained herein, the matters discussed in this
document are forward-looking statements involving risks and
uncertainties that could cause actual results to differ materially
from those in such forward-looking statements.
Add to Digg Bookmark with del.icio.us Add to Newsvine
RPC Contact: Kristine Szarkowitz Director-Investor
Relations Email Contact (Tel) 206.310.5323