MONTREAL, April 8, 2020 /CNW/ - Mondias Natural Products
Inc. (TSXV: NHP) (the "Company" or "Mondias ") is pleased
to announce the nomination of Normand
Drolet as Executive Chairman of the Board. Normand Drolet will also assume, on an interim
basis, the role of Chief Executive Officer.
" On behalf of the Board of Directors, I am delighted that
Normand has accepted the role of Executive Chairman of Mondias.
Normand is a seasoned entrepreneur with an impressive track
record". Normand's contribution upon joining the Board of
Directors was immediate and his skills and experience are key
attributes attaining Mondias' growth plan. In this
challenging period for many companies, Mondias is strengthening its
management team and positioning itself to better capitalize on its
assets to execute on its strategy" said André Rancourt, co-founder
and Director of Mondias. As a Director, Mr. Rancourt will
continue to play an active role with Mondias.
"I am thrilled to take on this new challenge and I want to thank
Mondias' Board for its confidence. Mondias has an exceptional
potential and to have the opportunity to lead Mondias in the
execution of its strategic plan, is a key motivation for me" said
Normand Drolet.
Management changes
Mondias also is announcing that Mr. Patrick Frankham is leaving Mondias. We wish to
thank Mr. Farnkham for his contributions since his nomination and
we wish him luck in his future business pursuits" added André
Rancourt.
About Mr. Normand
Drolet
Mr. Drolet is a Managing Partner at Alto Gestion Conseil Inc., a
consulting firm in finance and business strategy, working with
growing Quebec SMEs. Mr. Drolet earned a Master's Degree in
Strategic Management (M.Sc.) and a B.A. in
Accounting/Finance. He is also a graduate from the
Laval University "Collège des
administrateurs de sociétés". Over the years, Mr. Drolet has held
senior positions and management positions in several manufacturing,
services and information technology (IT) companies. Among others,
he was president and co-founder of Netgraphe Inc., the first
Internet-based public company listed in Canada in 1999 and founding President of an IT
focused investment company.
Stock option grant.
In connection with his nomination as Executive Chairman, Mondias
has granted an aggregate amount of 175,000 stock options of the
Company to Mr. Drolet. The stock options have an exercise price of
$0.06 per share and will expire on
April 6, 2030. The foregoing option
grant is in accordance with the terms of the Company's stock option
plan.
About Mondias Natural Products Inc.
Mondias specializes in the commercialization and development of
evidence-based botanical products for the healthcare,
bio-agriculture and organic markets. The company sells both oral
and topical botanical agents to help manage unmet medical needs
through its Holizen Laboratories division. Mondias is also
developing botanical-based specialty fertilizers for use on
household plants, lawns and golf courses and in urban gardens,
nurseries and greenhouses, in collaboration with McGill's Faculty
of Agricultural and Environmental Sciences. For more information,
visit: www.mondias.ca
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.
Forward-looking statements
Some statements in this release may contain forward-looking
information. All statements, other than statements of historical
fact, that address activities, events or developments that the
Company believes, expects or anticipates will or may occur in the
future (including, without limitation, statements regarding
potential acquisitions and financings) are forward-looking
statements. Forward-looking statements are generally identifiable
by the use of the words "may", "will", "should", "continue",
"expect", "anticipate", "estimate", "believe", "intend", "plan" or
"project" or the negative of these words or other variations on
these words or comparable terminology. Forward-looking statements
are subject to a number of risks and uncertainties, many of which
are beyond the Company's ability to control or predict, that may
cause the actual results of the Company to differ materially from
those discussed in the forward-looking statements. Factors that
could cause actual results or events to differ materially from
current expectations include the Company's inability to obtain
sufficient financing to execute its business plan; competition;
regulation; anticipated and unanticipated costs and delays; the
success of the Company's research and development strategies; the
ability to obtain orphan drug status; the applicability of the
discoveries made; the successful and timely completion and
uncertainties related to the regulatory approval process; the
timing of clinical trials; the timing and outcomes of regulatory or
intellectual property decisions; and other risks disclosed in the
Company's public disclosure record on file with the relevant
securities regulatory authorities. Although the Company has
attempted to identify important factors that could cause actual
results or events to differ materially from those described in
forward-looking statements, there may be other factors that cause
results or events not to be as anticipated, estimated or intended.
Readers should not place undue reliance on forward-looking
statements. The forward-looking statements in this news release are
made as of the date of this news release, and the Company does not
undertake any obligation to publicly update them to reflect new
information or subsequent events or otherwise except as required by
applicable securities legislation.
SOURCE Mondias Natural Products Inc.