(TheNewswire)
VANCOUVER, BC / TheNewswire / April 8 , 202 2 / AREV Life Sciences GlobalCorp. (CSE:AREV) (OTC:AREVF) (“AREV” orthe “Company” ) AREV Life SciencesGlobal Corporation announced today the appointment of Kevin Phelps,CPA as Chief Operating Officer.
In its current phase of growth and development, AREV Life SciencesGlobal Corporation appoints Kevin Phelps, CPA and AREV Board Member tothe role of Chief Operating Officer.
Kevin Phelps brings 40 years of experience in biotech and generalbusiness sectors to AREV. He
has served in roles as CEO, CFO and VP Business Developmentthroughout several executive teams. His areas of expertise includebusiness assessment and development, operations, mergers/acquisitions,business assessment, capital formation, commercialization, andfranchising and licensing.
??Mike Withrow CEO stated "Working with Kevin on theBoard of Directors has been rewarding and it is with great pleasure wewelcome Kevin to being more hands on by taking on the role of COO. Ibelieve Kevin will bring operational systems and efficiencies to thecompany as we continue to expand and grow."
Mr. Phelps’ career as a CPA began at Price WaterhouseCoopers. In 1987 he was recruited to the Eastman Kodak Company wherehe successfully transitioned the internal Bio Products Division intoGenencor International, Inc. (“GCOR”), a free-standing industrialbio-chemicals company. Mr. Phelps then served Genencor as ChiefFinancial Officer and VP of Business Development where he led theformation strategy for establishing the new company and subsequentlythe acquisition of two European chemical company competitors.
?“I am excited to join the AREV management team as weenter the expansion phase in the Company’s evolution. AREV’stechnology and innovative management style create the foundation fordynamic growth”, noted Mr. Phelps.
Following Genencor, Mr. Phelps accepted a partner roleat Trillium Group private equity firm. At Trillium Group he underwroteand developed a portfolio of small-growth companies including severalin drug development and medical device sectors. Currently, Mr.Phelps is Chief Executive Officer, President and Board Member ofImmune Therapeutics, Inc., an OTC listed (“IMUN”)bio-pharmaceutical company. He was recruited to Immune in November2018 as a Director and voted in as President and CEO in April2020.
?Mr. Phelps graduated from the University of Notre Damewith a BBA in accounting. He is a former CPA and has been active inUpstate New York venture capital community. In addition to theImmune and AREV Boards, Mr. Phelps serves as Chairman of OyaGen, Inc.(an anti-viral company) and Treasurer of Rochester Friendly SeniorServices.
In conjunction with this appointment, AREV is pleasedto announce a retention warrant offering to its senior management ofMike Withrow, CEO, and Kevin Phelps, COO. Each of the retentionwarrants are being sold to the purchase price of $0.05 per retentionshare purchase warrant and exercisable at $0.23 per common shareduring a term of 4 years from the date of closing of the retentionwarrant offering. The exercise of such warrant shall be subject to theoccurrence of the following events:
ITEM | PERCENTAGE/# of Warrants | Exerciseability Provision in regardof the Warrant Holder |
i. | 20% | Signing of Executive Consulting Agreement |
ii. | 15% | Conclusion of one year of Employment |
iii. | 15% | Conclusion of two years of Employment |
iv. | 15% | Conclusion of three years of Employment |
vi. | 35% | Completion of any two of pre-established strategicinitiatives. “Completion” is to be defined as a closed deal in which allparties have executed final agreements and the Company has takenownership of any assets or funds. All agreements must be approved bythe CSE and agree with all governing regulations. Any agreement deemedto be outside of the regulations will be deemed to have not completed. |
Insiders of the Company participation in the foregoing offeringconstitutes a "related party transaction" as defined underMultilateral Instrument 61-101 Protection of Minority Security Holdersin Special Transactions (“MI 61-101”). Such participation isexempt from the formal valuation and minority shareholder approvalrequirements of MI 61-101 as neither the fair market value of thesecurities acquired by the insiders, nor the consideration for thesecurities paid by such insiders, exceed 25% of the Company's marketcapitalization.
For further information, contact Mike Withrow,arevlifesciences@gmail.com 778-929-6536. For more information visitwww.arevlifesciences.com.
On behalf of the Board,
Mike Withrow
CEO & Director
ABOUT AREV LifeSciences Global Corp.
AREV Life Sciences Global Corp. is afully integrated, publicly traded, early-stage life scienceenterprise, with a US subsidiary dedicated to delivering therapeuticinterventions to public health through extraction of unique compounds,discovery, innovation and successful collaborations. Thecompany ’ s leadershipdrives discovery programs for clinical complexities presented bymalnutrition, viral infectious diseases, and elevated inflammatoryresponses. AREV is invested in commercial innovations in phytomedicinal discoveries ofsmall molecule antivirals and for related neglected chronicco-morbidities and innovations human nutrition. AREV is dedicated todesigning and delivering innovation in rational drug design, driven bypresenting global epidemiological characteristics of multiplechallenges to international human and animal health. AREV is a memberof both BIOTECanada and The Biotechnology Innovation Organization(BIO).
This press releasecontains forward-looking statements within the meaning of applicablesecurities laws. All statements that are not historical facts,including without limitation, statements regarding future estimates,plans, programs, forecasts, projections, objectives, assumptions,expectations or beliefs of future performance, are “forward-lookingstatements.” Forward-looking statements can be identified by the useof words such as “plans”, “expects” or “does not expect”,“is expected”, “estimates”, “intends”, “anticipates”or “does not anticipate”, or “believes”, or variations of suchwords and phrases or statements that certain actions, events orresults “may”, “could”, “would”, “might” or “will”be taken, occur or be achieved. Such forward-looking statementsinvolve known and unknown risks, uncertainties and other factors thatmay cause actual results, events or developments to be materiallydifferent from any future results, events or developments expressed orimplied by such forward looking statements.
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