Advitech Retains Investor Relations Firm
QUEBEC CITY, Sept. 1, 2011 /CNW/ - Advitech Inc. (TSX-V: AVI), a health sciences and technology company, today announced that it has retained SectorSpeak Inc. to provide strategic investor relations and communications services. SectorSpeak, owned and operated by Mr. Hogan Mullally, is a Winnipeg based capital markets consulting firm focused on the technology, clean tech, and health sciences sectors.
Under the terms of the agreement, Advitech will pay SectorSpeak a monthly fee of $6,000. Advitech has also granted SectorSpeak 200,000 stock options today (the "Initial Options") and will grant 200,000 options (the "Additional Options") at a date following the closing of the Company's proposed financing and share consolidation as announced on June 30, 2011.
Each Initial Option allows the holder thereof to acquire one common share of Advitech until September 1, 2016 for a price of $0.10 per share. The Additional Options will be priced at or around the market price at that time in compliance with the policies of the TSX Venture Exchange. The Initial and Additional Options are governed by the stock option plan of the Company and will vest over a one year period and will vest at a rate of 25% per quarter.
The initial contract term is 12 months and commences immediately.
Advitech and its subsidiary Botaneco Specialty Ingredients is a health sciences and technology company developing, manufacturing and marketing proprietary natural ingredients and formulations for oral and topical applications that have been clinically proven to be safe and effective for improving skin health and well being. The Corporation's products are based on three technological platforms which are: i) a superior multi-functional emulsification delivery system derived from plant seed oleosomes for formulation application in the topical cosmetic, OTC, Rx and natural personal care specialty ingredient markets, ii) XP-828L for immune mediated inflammatory disorders, and iii) IM for anti-aging and wound healing. Advitech produces Hydresia®, a natural plant derived specialty ingredient which offers immediate moisturization advantages, formulating cost savings and excellent product aesthetics in a variety of product applications, Dermylex® for the treatment of mild-to-moderate psoriasis, and NudremylTM which acts on skin reconstruction, cellular regeneration and skin structure. More information is available and can be accessed at www.advitech.com and www.botaneco.ca.
This press release contains forward looking statements, which reflect the Corporation's current expectations regarding future events. The forward looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein.
Neither 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.For further information:
President and CEO, Advitech Inc