TORONTO, Dec. 21, 2020 /CNW/ - HLS Therapeutics Inc.
("HLS" or the "Company") (TSX: HLS), a specialty pharmaceutical
company focusing on central nervous system and cardiovascular
markets, announces that John L. Welborn,
Jr., Managing Director, Co-Chief Investment Officer for
Stadium Capital Management, LLC ("Stadium"), will be nominated for
election to the board of directors of the Company (the "Board") as
an independent director. Stadium and its affiliates are the largest
shareholder of HLS and own approximately 18.8% of the Company's
issued and outstanding common shares.
Mr. Welborn will be nominated for election to the Board at the
Company's next annual meeting of shareholders ("AGM") to be held in
the spring of 2021. From the date hereof until the 2021 AGM, Mr.
Welborn, will act in a non-voting, observer capacity.
"John will bring significant business and investment expertise
to the Board, as well as the perspective of a large, long-term and
well-informed shareholder," said William
Wells, Executive Chairman of HLS. "This appointment reflects
our commitment to building a strong and diverse board of directors
to help the Company execute on its long-term growth strategy and
continue to build shareholder value."
Mr. Welborn added, "With the accelerating launch of HLS's
cardiovascular franchise in 2021, I am pleased to join the board of
directors of HLS at such an exciting and transformational time for
the business. The HLS team has built a robust product
portfolio with significant growth potential and a compelling
platform to pursue additional expansion opportunities. I look
forward to helping the company maximize its potential in this next
stage of its growth curve."
Mr. Welborn, 43, joined Stadium in 2000 and currently serves as
Managing Director, Co-Chief Investment Officer. Previously,
Mr. Welborn was a Financial Analyst at The Beacon Group, LLC, a
principal investment and advisory firm that is now part of J.P.
Morgan Chase & Co. Mr. Welborn earned a B.S. degree in
Commerce from the McIntire School of Commerce
at the University of Virginia. Mr. Welborn has served
on the boards of Intermountain Community Bancorp, Panhandle State
Bank, Inc., Ascena Retail Group, Inc. and West Coast Bancorp (board
observer).
ABOUT STADIUM CAPITAL MANAGEMENT, LLC
Founded in 1997,
Stadium is a private investment advisory firm located in
New Canaan, CT. Stadium
invests with a concentrated, long-term orientation in undervalued
smaller public companies in the U.S., Canada and Europe.
ABOUT HLS THERAPEUTICS INC.
Formed in 2015, HLS is a
specialty pharmaceutical company focused on the acquisition and
commercialization of late-stage development, commercial stage
promoted and established branded pharmaceutical products in the
North American markets. HLS's focus is on products targeting the
central nervous system and cardiovascular therapeutic areas. HLS's
management team is composed of seasoned pharmaceutical executives
with a strong track record of success in these therapeutic areas
and at managing products in each of these lifecycle stages. For
more information, please visit: www.hlstherapeutics.com
FORWARD LOOKING INFORMATION
This release includes
forward-looking statements regarding HLS and its business. Such
statements are based on the current expectations and views of
future events of HLS's management. In some cases the
forward-looking statements can be identified by words or phrases
such as "may", "will", "expect", "plan", "anticipate", "intend",
"potential", "estimate", "believe" or the negative of these terms,
or other similar expressions intended to identify forward-looking
statements, including, among others, statements with respect to
HLS's pursuit of additional product and pipeline opportunities in
certain therapeutic markets, statements regarding growth
opportunities and expectations regarding financial performance. The
forward-looking events and circumstances discussed in this release
may not occur and could differ materially as a result of known and
unknown risk factors and uncertainties affecting HLS, including
risks relating to the specialty pharmaceutical industry, risks
related to the regulatory approval process, economic factors and
many other factors beyond the control of HLS. Forward-looking
statements and information by their nature are based on assumptions
and involve known and unknown risks, uncertainties and other
factors which may cause HLS's actual results, performance or
achievements, or industry results, to be materially different from
any future results, performance or achievements expressed or
implied by such forward-looking statement or information.
Accordingly, readers should not place undue reliance on any
forward-looking statements or information. A discussion of the
material risks and assumptions associated with this release can be
found in the Company's Annual Information Form dated March 18, 2020 and Management's Discussion and
Analysis dated November 4, 2020, both
of which have been filed on SEDAR and can be accessed at
www.sedar.com. Accordingly, readers should not place undue reliance
on any forward-looking statements or information. Except as
required by applicable securities laws, forward-looking statements
speak only as of the date on which they are made and HLS undertakes
no obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
SOURCE HLS Therapeutics Inc.