EASTAMPTON, NJ, June 16, 2016 /CNW/ - Epicore BioNetworks Inc. announces the retirement of Mr. Philip A.D. Secretan and Mr. Fred N. Boulos as directors of the corporation. Both have served the Board faithfully and diligently for a combined 19 years. Their support and guidance helped Epicore evolve from a struggling startup to a successful enterprise. During their tenure, the Company has seen sales increase three fold, has been profitable in every quarter of operation and has grown to become a significant supplier to the world aquaculture industry. They leave the Company on solid financial footings, ready to grow its business to the next level and to reward the support of its shareholders. Mr. Secretan has agreed to make his aquaculture industry expertise available to the Company as Epicore continues to broaden its aquaculture business. The Board wishes them the best in their retirement years.
Additionally, Epicore BioNetworks Inc. is pleased to announce that a new director has joined the board, effective June 16, 2016. The Board welcomes Mr. Stefan Zaphiriou Zarifi of Malaga, Spain. Mr. Zarifi holds a bachelor's degree from the London School of Economics. He has held senior positions in several London based financial firms. The Board expects that his knowledge and experience will be of great benefit to Epicore's plan to develop commercial alliances.
The Board of Directors has approved issuance to Mr. Zarifi of 50,000 options to buy Epicore common shares. The grants follow Company board compensation policy. The options being issued have an exercise price of C$0.65 per share and expire in five years. The 50,000 options granted is equivalent to 0.2% of Epicore's issued common stock. The Epicore Stock Option Plan was approved by shareholders at the Company's Annual General and Special Meetings of Shareholders.
Epicore BioNetworks Inc. is a leading producer of environmental biotechnology and animal nutrition products. It manufactures in the USA and markets worldwide to a variety of industries to reduce environmental pollution and increase operational productivity.
Epicore BioNetworks Inc. is a public corporation with a registered office in Calgary, Alberta, Canada and with shares listed on the TSX Venture Exchange (symbol EBN). [The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.]
SOURCE Epicore BioNetworks Inc.
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For further information: Mr. William P. Long (Chief Executive Officer), Tel: 609-267-9118