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Algae Biosciences Corporation Retains Gordon Aldcorn to Provide Investor Relations Services
February 16, 2012 5:26 PM EST | Source: Algae Biosciences Corporation
Vancouver, British Columbia--(Newsfile Corp. - February 16, 2012) - Algae Biosciences Corporation (the "Company") (TSXV: ABV) is pleased to announce that it has retained the services of Gordon Aldcorn to provide investor relations services, subject to regulatory approval. Mr. Aldcorn will initiate and maintain contact with the financial community, shareholders, investors, and other stakeholders for the purpose of increasing awareness of the Company and its activities.
Gordon Aldcorn commented, "I am very excited to be a part of Algae Biosciences efforts going forward. The range and depth of opportunities in the algae space is significant, and with developments already underway at Algae Biosciences I look forward to communicating management’s strategy and execution plan to the investment community.
Robert Thompson, Chairman of Algae Biosciences, commented, "Developments in algae continue to grow at a tremendous rate, and our objective is to be on the forefront of many of these areas with the assets and people we have in place. Accordingly, we are looking forward to working with Gordon to actively communicate our merits through engaging the investment community."
This agreement is effective immediately, and may be terminated by either party following the initial six-month term with 30 days’ notice. Mr. Aldcorn will be paid a monthly fee of $3,500, and will be granted 400,000 stock options with an exercise price of $0.20. The stock options will vest equally and quarterly in equal portions over the first 12 months of the services agreement. The stock options expire at the earlier of 30 days after termination of the agreement, or five years from the date of issuance.
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ABOUT ALGAE BIOSCIENCES CORPORATION: Algae Biosciences Corporation ("AlgaeBio") is a Canadian scientifically centred company that is focused on discovering and unlocking the powers of algae to resolve critical human issues – nutrition, health, energy and the environment. With access to near-perfect algae growing conditions, exclusive aquaculture access to a pristine brine water supply, and advanced proprietary technology, AlgaeBio produces superior human and animal consumable products, as well as offering advanced algae-based products and technologies for distribution into the agribusiness, biofuel, and aquaculture markets. AlgaeBio owns and operates large-scale production facilities near Holbrook, Ariz., and is listed on the TSX Venture Exchange (TSX.V:ABV).
Algae Biosciences Corporation ("AlgaeBio") is a Canadian scientifically centred company that is focused on discovering and unlocking the powers of algae to resolve critical human issues – nutrition, health, energy and the environment. With access to near-perfect algae growing conditions, exclusive aquaculture access to a pristine brine water supply, and advanced proprietary technology, AlgaeBio produces superior human and animal consumable products, as well as offering advanced algae-based products and technologies for distribution into the agribusiness, biofuel, and aquaculture markets. AlgaeBio owns and operates large-scale production facilities near Holbrook, Ariz., and is listed on the TSX Venture Exchange (TSX.V:ABV).For further information:
Robert Thompson
Chairman of the Board
Algae Biosciences Corporation
Phone: 602.909.9728
E-mail: r.thompson@algaebio.com
Cautionary Statements
This news release contains "forward-looking statements" within the meaning of applicable securities laws, including statements relating to the expenditure of funds acquired by the Corporation in connection with the Offering. Although the Corporation believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to the Corporation. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements, including whether or not the Agent's Option is ultimately exercised. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, the Corporation does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Corporation or its financial or operating results or (as applicable), their securities.
The Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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 the content of this release.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.