Normand Drolet is named new Executive Chairman and change in the management
MONTREAL, April 8, 2020 /CNW/ - Mondias Natural Products Inc. (TSXV: NHP) (the "Company" or "Mondias ") is pleased to announce the nomination of Normand Drolet as Executive Chairman of the Board. Normand Drolet will also assume, on an interim basis, the role of Chief Executive Officer.
" On behalf of the Board of Directors, I am delighted that Normand has accepted the role of Executive Chairman of Mondias. Normand is a seasoned entrepreneur with an impressive track record". Normand's contribution upon joining the Board of Directors was immediate and his skills and experience are key attributes attaining Mondias' growth plan. In this challenging period for many companies, Mondias is strengthening its management team and positioning itself to better capitalize on its assets to execute on its strategy" said André Rancourt, co-founder and Director of Mondias. As a Director, Mr. Rancourt will continue to play an active role with Mondias.
"I am thrilled to take on this new challenge and I want to thank Mondias' Board for its confidence. Mondias has an exceptional potential and to have the opportunity to lead Mondias in the execution of its strategic plan, is a key motivation for me" said Normand Drolet.
Management changes
Mondias also is announcing that Mr. Patrick Frankham is leaving Mondias. We wish to thank Mr. Farnkham for his contributions since his nomination and we wish him luck in his future business pursuits" added André Rancourt.
About Mr. Normand Drolet
Mr. Drolet is a Managing Partner at Alto Gestion Conseil Inc., a consulting firm in finance and business strategy, working with growing Quebec SMEs. Mr. Drolet earned a Master's Degree in Strategic Management (M.Sc.) and a B.A. in Accounting/Finance. He is also a graduate from the Laval University "Collège des administrateurs de sociétés". Over the years, Mr. Drolet has held senior positions and management positions in several manufacturing, services and information technology (IT) companies. Among others, he was president and co-founder of Netgraphe Inc., the first Internet-based public company listed in Canada in 1999 and founding President of an IT focused investment company.
Stock option grant.
In connection with his nomination as Executive Chairman, Mondias has granted an aggregate amount of 175,000 stock options of the Company to Mr. Drolet. The stock options have an exercise price of $0.06 per share and will expire on April 6, 2030. The foregoing option grant is in accordance with the terms of the Company's stock option plan.
About Mondias Natural Products Inc.
Mondias specializes in the commercialization and development of evidence-based botanical products for the healthcare, bio-agriculture and organic markets. The company sells both oral and topical botanical agents to help manage unmet medical needs through its Holizen Laboratories division. Mondias is also developing botanical-based specialty fertilizers for use on household plants, lawns and golf courses and in urban gardens, nurseries and greenhouses, in collaboration with McGill's Faculty of Agricultural and Environmental Sciences. For more information, visit: www.mondias.ca
Neither the 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.
Forward-looking statements
Some statements in this release may contain forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include the Company's inability to obtain sufficient financing to execute its business plan; competition; regulation; anticipated and unanticipated costs and delays; the success of the Company's research and development strategies; the ability to obtain orphan drug status; the applicability of the discoveries made; the successful and timely completion and uncertainties related to the regulatory approval process; the timing of clinical trials; the timing and outcomes of regulatory or intellectual property decisions; and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and the Company does not undertake any obligation to publicly update them to reflect new information or subsequent events or otherwise except as required by applicable securities legislation.
SOURCE Mondias Natural Products Inc.
Mondias Natural Products Inc., Mario Paradis, Chief Financial Officer, 514-641-0181, [email protected]
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