CALGARY, AB, Nov. 16, 2021 /CNW/ - Health Logic
Interactive Inc. ("Health Logic" or the
"Company") (TSXV: CHIP.H) (OTCPK: CHYPF) is pleased to
announce the hiring of Mr. Harrison
Ross as interim Chief Executive Officer for Health Logic and
the resignation of Mr. David
Barthel. In his role Mr. Ross will look to finalize the sale
of the Company's wholly owned subsidiary, My Health Logic Inc.
("My Health Logic"), to Marizyme Inc. ("Marizyme")
and begin the new strategic direction of the Company.
Mr. Ross, a charted financial accountant (CFA), was previously
the Company's CFO and is well versed in the Company history and
will be in charge of leading the future direction of the Company.
As the previous CFO of Health Logic, he was essential to the
initial building of the business, helping restructure the previous
shell, financing the Company, and streamlining of the business'
operations to help develop MATLOC 1 and the accompanying
lab-on-chip technology. The sale of My Health Logic to Marizyme is
expected to be complete this December
2021.
While the expected sale of My Health Logic closes, the Company
will be actively looking for other acquisition and financing
opportunities to prepare for a successful reactivation to the Tier
ll of the TSX Venture Exchange (the "TSXV") based on
continued listing requirements.
In addition to Mr. Ross' move from CFO to CEO, all directors of
Health Logic will remain directors of the Company, George Kovalyov will move from COO to CFO of the
Company, and David Barthel will
resign as CEO of the Company and transition to Marizyme as their
new CEO. Health Logic thanks Mr. Barthel for his excellent efforts
in leading the Company and believe it is in the best interests of
the Company's shareholders that David become CEO of Marizyme to
advance both MATLOC and Marizyme's other exciting technologies
including their flagship DuraGraft product.
Mr. Ross' accomplishments include being CFO at DC Acquisition
Corp., a Capital Pool Company listed on the TSXV that raised
$2.5 million on its initial public
offering before successfully completing its qualifying transaction
of Kiaro Holdings Corp. (TSXV: KO). Mr. Ross has helped manage over
$500 million in assets at Duncan Ross
and Associates and was an analyst at the Family Office Belkorp
Industries. Now, Mr. Ross is bringing his expertise to Health Logic
as the interim CEO.
Mr. Ross is also a director of Codebase Ventures Inc. (CSE:
CODE), an investment issuer focused on early stage investments in
sectors with significant upside.
About the Company
Health Logic Interactive, through its wholly owned operating
subsidiary My Health Logic, has pursued the development and
commercialization of consumer focused handheld point-of-care
diagnostic devices that connect to patient's smartphones and
digital continued care platforms. For more information visit us at:
www.healthlogicinteractive.com.
Further information regarding Health Logic Interactive Inc. and
its disclosure documents are available on SEDAR at
www.sedar.com.
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Notes
Certain statements contained in this press release constitute
"forward-looking statements". All statements other than statements
of historical fact contained in this press release, including,
without limitation, those regarding: the sale of the Company's
wholly-owned subsidiary My Health Logic; the Company's ability to
identify and acquire new business opportunities; the Company's
expectations that it will be able to complete a financing necessary
to acquire a new business opportunity; the Company's expectation
that it will successfully reactivate onto Tier II of the TSXV;
Marizyme's ability to progress its technologies; and the
Company's strategy, plans, objectives, goals and targets, and any
statements preceded by, followed by or that include the words
"believe", "expect", "aim", "intend", "plan", "continue", "will",
"may", "would", "anticipate", "estimate", "forecast", "predict",
"project", "seek", "should" or similar expressions or the negative
thereof, are forward-looking statements.
These statements are not historical facts but instead represent
only the Company's expectations, estimates and projections
regarding future events. These statements are not guarantees of
future performance and involve assumptions, risks and uncertainties
that are difficult to predict. Therefore, actual results may differ
materially from what is expressed, implied or forecasted in such
forward-looking statements. Additional factors that could cause
actual results, performance or achievements to differ materially
include, but are not limited to the risk factors discussed in
the Company's Management's Discussion and Analysis for the
year ended December 31, 2020.
Management provides forward-looking statements because it believes
they provide useful information to investors when considering their
investment objectives and cautions investors not to place undue
reliance on forward-looking information. Consequently, all of the
forward-looking statements made in this press release are qualified
by these cautionary statements and other cautionary statements or
factors contained herein, and there can be no assurance that the
actual results or developments will be realized or, even if
substantially realized, that they will have the expected
consequences to, or effects on, the Company. These forward-looking
statements are made as of the date of this press release and the
Company assumes no obligation to update or revise them to reflect
subsequent information, events or circumstances or otherwise,
except as required by law.
SOURCE Health Logic Interactive Inc.