Luminor Medical Technologies Changes Its Name to RISE Life Science Corp.
Announcement of New Board Members, introduction of CFO, and AGM Results
Toronto, Ontario--(Newsfile Corp. - March 9, 2018) - Luminor Medical Technologies (CSE: LMT), further to the acquisition of RISE Research Inc., announced today that it changed its corporate name to RISE Life Science Corp. which was approved at the Company's annual and special shareholder meeting (the "Shareholder Meeting") held on Tuesday February 27, 2018. The Company has reserved the stock symbol "RLSC" and will commence trading under this symbol upon approval by the Canadian Securities Commission.
"The name change reflects our emphasis on developing and evolving medical cannabis-based formulations to create general use health and well-being products for the emerging consumer category made possible by the legalization of cannabis." said Anton Mattadeen, CEO, RISE Life Science Corp.
In addition, the Shareholder Meeting saw three new additions to the Board of Directors including Mr. Chris Dollard, Ms. Constance Finley and Mr. Michael Campbell.
Mr. Dollard is COO of RISE Life Science Corp. Previously, he served as COO of RISE Research Inc. since its inception in the fall of 2015. He also brings to RISE Life Science Corp. a wealth of knowledge and experience from his work related to operational planning and facility design pertaining to early cannabis producer applications. Before entering the cannabis industry in late 2012, Mr. Dollard built a 25+ year career in the information technology industry with Fortune 500 companies such as Deloitte, Accenture, IBM and Best Buy, as well as many smaller firms and startups.
Ms. Finley is the founder and President of Constance Therapeutics, a San Francisco-based company that produces whole plant medicinal cannabis extracts for physicians and their patients. She is recognized as an industry leader and is a frequent speaker at leading industry conferences including CannaTech, SXSW, The California Academy of Sciences, the Cure Cancer Now Summit, CWCBExpo, and the Cannabis Quality Strategies and Solutions Summit. She sits on various advisory boards, including an assignment to the Scientific Advisory Board for CannaTech.
Mr. Campbell is General Counsel and Corporate Secretary of Intellipharmaceutics International Inc., a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled and targeted release oral solid dosage drugs. He previously served as General Counsel for Griffis Capital and Canada Cartage System L.P.
It was also announced that Mr. Harry Bloomfield, who has served as Chairperson of Luminor Medical Technologies Board of Directors, has retired from the Board. Anton Mattadeen has been elected as Chairperson of the Board of Directors.
"Mr. Bloomfield's insights during his tenure as Chairman, helped to significantly move the company forward." said Anton Mattadeen. "We wish to thank him for his leadership."
RISE Life Science Corp. is pleased to announce that Robert Lelovic CPA, CA has joined the company as Chief Financial Officer. Mr. Lelovic replaces Chris Carmichael who has filled this role during the transition period from Luminor to RISE Life Science Corp. Mr. Lelovic graduated from York University in 1998 and has been a chartered accountant since 2001. He has extensive experience in public company reporting, corporate governance and compliance. Mr. Lelovic is the president of Robert Lelovic Professional Corporation, a company registered with the Institute of CPA Ontario and the co-founder of Inlync.
"We would also like to offer our sincere thanks to Chris Carmichael for his invaluable input into the creation of the company structure," said Anton Mattadeen. "And look forward to working with him in the future."
Finally, additional resolutions approved at the Shareholder Meeting included the appointment of MNP LLP as auditor, re-approval of the Company's stock option plan, change of registered address to 145 King Street West, Suite 210, Toronto, ON M5H 1J8 and the reduction of paid up capital in connection with a reorganization of the Corporation involving the distribution of all of the Corporation's shares of its wholly owned subsidiary Scout Assessment Corp. (the "Scout Corp Distribution") to the Corporation's shareholders. The Scout Corp. Distribution is subject to a number of conditions including the filing of a prospectus with the Ontario Securities Commission, CSE approval and approval by the Directors of the Company. Further details of the resolutions can be found on the management information circular filed on www.sedar.com on February 7, 2018.
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Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Luminor's (now RISE) periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward- looking statements. Forward-looking statements may include, without limitation, statements including the Company's expectations with respect to pursuing new opportunities and its future growth and other statements of fact.
Although RISE has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US Federal Laws; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events. Accordingly, 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 release. RISE disclaims any intention or obligation to update or revise such information, except as required by applicable law, and RISE does not assume any liability for disclosure relating to any other company mentioned herein.