- John Welborn, Jr. is
appointed Chair of the Board, succeeding Greg Gubitz, who is retiring
- John Hanna is appointed to
the HLS Board as an independent director
TORONTO, June 22,
2023 /CNW/ - HLS Therapeutics Inc. ("HLS" or the
"Company") (TSX: HLS) announces today that Mr. John Hanna has been appointed to the Board of
Directors (the "Board"), while Greg
Gubitz, Chair of the Board, is retiring from the Board.
John Welborn, a current Board
member, has been appointed Chair. These changes are effective
immediately.
"On behalf of the Board and HLS employees, I want to thank Greg
for his service and many contributions to HLS as a co-founder,
former CEO, and most recently as Chair over the past year. Under
his recent leadership as Chair, the Board hired a new CEO and
reshaped and streamlined the Board of Directors, adding both more
shareholder representation and industry expertise," said
John Welborn, Chair of the Board at HLS.
"We also welcome John Hanna to
the Board. John has significant finance, operational and governance
experience in both growth-oriented and transformational
environments, and we are pleased to have him join the HLS board at
this important time for the Company," added Mr. Welborn.
Mr. Hanna was proposed as a Board candidate by Polar Asset
Management Partners Inc. ("Polar"), a shareholder of HLS, under
terms of an agreement that Polar entered into with the Company,
which was detailed in an HLS press release dated June 8, 2023. Mr. Hanna is an accomplished leader
with more than 25 years of diverse experience, including in the
healthcare industry, as a C-level executive helping companies to
drive revenue growth, scale their operations and expand operating
profitability. Given this experience and background, Mr. Hanna has
also been appointed as a member of the HLS Audit Committee.
Mr. Hanna is currently Chief Financial Officer of Inca Networks,
where he is responsible for the financial direction and strategy of
the company. With more than 25 years of experience in operational
and corporate finance roles, Mr. Hanna has a proven record of
implementing change to generate top-line growth while controlling
costs. Previously, Mr. Hanna served as Chief Financial Officer at
Vecima Networks and eBuyNow and held a variety of senior financial
roles with The Westaim Corporation. Mr. Hanna has also served as a
board member for a number of technology companies, including Vector
12 Corporation. He holds an MBA from the University of British Columbia and is a designated
accountant (CPA, CGA).
"Mental health and cardiovascular disease are significant issues
for many Canadians, and HLS is committed to serving our patients
with life-improving and life-saving therapies. As a Board, we are
excited for our new CEO, Craig Millian, to optimize our
product portfolio and lead HLS. The Board is committed to ensuring
profitable growth and improving shareholder value," said Mr.
Welborn.
The HLS Board now has eight members: John Welborn, Chair; Craig Millian, CEO of HLS; Norma Beauchamp; Laura
Brege; Kyle Dempsey;
John Hanna; Rodney Hill, and Christian Roy.
ABOUT HLS THERAPEUTICS
INC.
Formed in 2015, HLS is a pharmaceutical company focused on the
acquisition and commercialization of late-stage development,
commercial stage promoted and established branded pharmaceutical
products in the North American markets. HLS's focus is on products
targeting the central nervous system and cardiovascular therapeutic
areas. HLS's management team is composed of seasoned pharmaceutical
executives with a strong track record of success in these
therapeutic areas and at managing products in each of these
lifecycle stages. For more information visit:
www.hlstherapeutics.com
FORWARD LOOKING
INFORMATION
This release includes forward-looking statements regarding
HLS and its business. Such statements are based on the current
expectations and views of future events of HLS's management. In
some cases, the forward-looking statements can be identified by
words or phrases such as "may", "will", "expect", "plan",
"anticipate", "intend", "potential", "estimate", "believe" or the
negative of these terms, or other similar expressions intended to
identify forward-looking statements, including, among others,
statements with respect to the composition of HLS's board of
directors. The forward-looking events and circumstances discussed
in this release may not occur and could differ materially as a
result of known and unknown risk factors and uncertainties
affecting HLS, including risks relating to the specialty
pharmaceutical industry, risks related to the regulatory approval
process, economic factors and many other factors beyond the control
of HLS. Forward-looking statements and information by their nature
are based on assumptions and involve known and unknown risks,
uncertainties and other factors which may cause HLS's actual
results, performance or achievements, or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking statement
or information. Accordingly, readers should not place undue
reliance on any forward-looking statements or information. A
discussion of the material risks and assumptions associated with
this release can be found in the Company's Annual Information Form
dated March 15, 2023, and
Management's Discussion and Analysis dated May 10, 2023, both of which have been filed on
SEDAR and can be accessed at www.sedar.com. Accordingly, readers
should not place undue reliance on any forward-looking statements
or information. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they
are made and HLS undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events, or otherwise.
SOURCE HLS Therapeutics Inc.