Trxade Group, Inc. Appoints Independent Director
August 24 2016 - 9:31AM
Trxade Group, Inc., (OTCQB:TRXD), a web-based market platform with
6,200 registered independent pharmacy customers that enables its
customers to quickly source and purchase pharmaceuticals,
accessories and services from a wide range of manufacturers and
drug distributors today announced the appointment of Michael
Peterson to the Company's Board of Directors. With this addition,
the Trxade Group Board of Directors now comprises four directors;
two of whom are independent directors.
"We welcome Mr. Peterson to the Board of Directors and as Audit
committee Chairman and look forward to working with him to build
shareholder value," said Suren Ajjarapu, Chairman of the
Board. "We are committed to fostering long-term growth and we
believe we have the resources and leadership in place to achieve
this goal. We also believe that Trxade Group will benefit from
having access to Mr. Peterson's expertise and experience and
are excited about this new relationship."
"Trxade Group is a leader in Pharmaceutical Trading platforms
with innovative, market-leading technologies, and the Company is
well-positioned to take advantage of multiple opportunities,"
said Donald Fell, Chairman of the Nomination Committee. "As a
member of the Board and Audit Committee Chairman, Mr. Peterson will
work with the other directors and the management team to enhance
the value of the Company for all shareholders. Mr. Peterson’s
involvement on past boards has often created meaningful value for
all shareholders. We hope this will continue with Trxade
Group." Mr. Fell added, "Given his experience and deep
knowledge in public companies as a CFO, I believe that Mr. Peterson
will be an extremely valuable resource to the Company going
forward."
About Michael Peterson
Mr. Peterson currently serves as the President and CEO of
Pedevco Corp (NYSE:PED), a public company engaged primarily in the
acquisition, exploration, development and production of oil and
natural gas shale plays in the US. Mr. Peterson assumed the
role of CEO in May 2016 after having served as CFO between July
2012 and May 2016, and as Executive Vice President from July 2012
to October 2014, and President since October 2014. Mr. Peterson
joined Pacific Energy Development as its Executive Vice President
in September 2011, and served as a director from May 2008 to
December 2011. Mr. Peterson previously served as a
director (from May 2006 to July 2012) of Aemetis, Inc. (formerly AE
Biofuels Inc.), a Cupertino, California-based global advanced
biofuels and renewable commodity chemicals company (AMTX), and as
Chairman and Chief Executive Officer of Nevo Energy, Inc. (NEVE)
(formerly Solargen Energy, Inc.), a Cupertino, California-based
developer of utility-scale solar farms which he helped form in
December 2008 (from December 2008 to July 2012). In addition, in
February 2006, Mr. Peterson founded and served as managing partner
of California-based Pascal Management, a manager of hedge and
private equity investments. From 2005 to 2006, Mr. Peterson
served as a managing partner of American Institutional Partners, a
venture investment fund based in Salt Lake City. From 2000 to 2004,
he served as a First Vice President at Merrill Lynch, where he
helped establish a new private client services division to work
exclusively with high net worth investors. From September 1989 to
January 2000, Mr. Peterson was employed by Goldman Sachs & Co.
in a variety of positions and roles, including as a Vice President
with the responsibility for a team of professionals that advised
and managed over $7 billion in assets.
Mr. Peterson received his MBA at the Marriott School of
Management and a BS in statistics/computer science from Brigham
Young University.
About Trxade Group, Inc.
Headquartered in Tampa, Florida, Trxade Group, Inc. (OTCQB:TRXD)
is a web based market platform that enables trade among healthcare
buyers and sellers of pharmaceuticals, accessories and
services. Founded in 2010, Trxade Group currently operates
the trading platform with 6200 registered members. Trxade Group
also distributes directly private label pharmaceuticals thru their
100% subsidiary Westminster Pharmaceuticals to these registered
members. For additional information please visit us at
http://www.trxadegroup.com.
Forward-Looking Statements
The information contained herein includes forward-looking
statements. These statements relate to future events or to our
future financial performance, and involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance
or achievements expressed or implied by these forward-looking
statements.
You should not place undue reliance on forward-looking
statements since they involve known and unknown risks,
uncertainties and other factors which are, in some cases, beyond
our control and which could, and likely will, materially affect
actual results, levels of activity, performance or achievements.Any
forward-looking statement reflects our current views with respect
to future events and is subject to these and other risks,
uncertainties and assumptions relating to our operations, results
of operations, growth strategy and liquidity. Except as may be
required by applicable law, we assume no obligation to publicly
update or revise these forward-looking statements for any reason,
or to update the reasons actual results could differ materially
from those anticipated in these forward-looking statements, even if
new information becomes available in the future. The company
undertakes no duty to update forward-looking statements.
Investor Relations Contact:
Phillip Sugarman, Vice President, Investor Relations
Phone: 818-280-6800
psugarman@irpartnersinc.com