(TheNewswire)
Edmonton, Alberta - TheNewswire - 17 July 2023 - Innovotech Inc. (TSX-V:IOT) , a leading Canadian biotechnologycompany, is pleased to announce the appointment of Dr. Craig Milne asChief Executive Officer (CEO) effective 1 August 2023. Dr. Milne first joined IOT as a Board member in July 2019 andhas served on the Executive Committee, Audit Committee and as ChiefBusiness Development Officer. "Dr. Milne brings to IOTenthusiasm, energy, vision and more than a decade of leadershipexperience in rapidly growing technology companies" said Dr.James Timourian, present CEO and Board Chair. Craig has a PhD inImmunology from the University of Toronto and an MBA in Finance fromthe University of Alberta.
“I’m excited about the opportunity we have in frontof us. Innovotech is recognized by leading medical device companiesas their trusted partner in microbiology products and services. Thatis a strong base from where we can continue to add value to ourbusiness and the industry.” said Dr. Milne.
In his previous role as CEO of CopperstoneTechnologies, an Edmonton-based robotics company, he led theacquisition of several global mining companies as key clients. Hehas worked with companies across a number of industry verticals,developing and executing effective strategies for sales, partnershipdevelopment and finance. Dr. Milne will be granted 500,000 incentivestock options vesting over a 4-year period at today’s closing priceof $0.10 and expiring in 5 years.
Dr. Timourian will resign from the CEO position at theend of July and continue supporting the company in his capacity asDirector and Board Chair.
About Innovotech Inc:
Innovotech is a Canadian biotechnology company owningproprietary intellectual property, conducting contract research, andowning and providing proprietary devices for testing in multipleapplications in microbiology and can be found online at www.innovotech.ca .
Alan Savage
Director & CFO Innovotech Inc. 604 220-4935acs@loncap.ca
This document may containforward-looking statements that are predictive in nature and subjectto risks and uncertainties that cannot be predicted or quantified;consequently, actual results may differ materially from past resultsand those expressed or implied by any forward-looking statements.Factors that could cause or contribute to such risks or uncertaintiesinclude, but are not limited to: the regulatory environment includingthe difficulty of predicting regulatory outcomes; changes in the valueof the Canadian dollar; the Company’s reliance on a small number ofcustomers including government organizations; fluctuations inoperating results; government policies or actions; progress and costof clinical trials; reliance on key strategic relationships;uncertainty related to intellectual property protection and potentialcosts associated with its defense; the Company’s exposure tolawsuits and other matters beyond the control of management. Shouldknown or unknown risks or uncertainties materialize, or shouldmanagement’s assumptions prove inaccurate, actual results could varymaterially from those anticipated. The Company undertakes noobligation to publicly make or update any forward- looking statements,except as required by applicable law.
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
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