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.
SOURCE Advitech Inc.
For further information:
President and CEO, Advitech Inc