Vesting Linked To Improvement of Shareholder Value
QUEBEC CITY, Sept. 17, 2013 /PRNewswire/ - DiagnoCure Inc. (TSX: CUR)(TCQX: DGCRF) (the "Corporation") reports the granting, as of today, of 500,000 options to Richard Bordeleau who was appointed Senior Advisor to the Board on September 1st, 2013. The vesting of these options is tied to the delivery of measurable milestones of which twenty percent can be vested during Mr. Bordeleau's mandate as Senior Advisor. The options granted will vest in several installments which are all linked to strong value-creating milestones. The other options reported on SEDI are tied to several stringent vesting conditions, which include the possibility that Mr. Bordeleau be entrusted with other significant responsibilities. If any of the milestones do not materialize, then the options related to this condition will not vest.
"We are granting these options to Mr. Bordeleau because we strongly believe that his contribution to DiagnoCure will create value for our shareholders. The vesting will occur as Mr. Bordeleau fulfills his critical mandates, notably by implementing short-term initiatives and developing mid- to long-term opportunities" stated Dr. Yves Fradet, Chairman of the Board and President and Chief Medical Officer.
DiagnoCure (TSX: CUR; OTCQX: DGCRF) is a life sciences corporation that develops and commercializes high-value cancer diagnostic tests that increase clinician and patient confidence in making critical treatment decisions. In 2008, the Corporation launched a colorectal cancer staging test through its U.S. CLIA laboratory. PrevistageTM GCC is currently available for licensing. The Corporation has granted a worldwide exclusive license on the diagnostic applications of its proprietary molecular biomarker PCA3 to Gen-Probe, now a wholly-owned subsidiary of Hologic Inc. Hologic Gen-Probe's PROGENSA® PCA3 prostate cancer test is commercialized in Europe under CE mark and is approved for commercialization in Canada and the United States. For more information, please visit www.diagnocure.com.
This release may contain forward‐looking statements that involve known and unknown risks, uncertainties and assumptions that may cause actual results to differ materially from those expected. Forward-looking statements can be identified by the use of the conditional or forward-looking terminology such as "anticipates", "assumes", "believes", "estimates", "expects", "intend", "may", "plans", "projects", "should", "will", or the negative thereof or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. All such forward-looking statements are made pursuant to the "safe-harbour" provisions of applicable Canadian securities laws. By their very nature, forward‐looking statements are based on expectations and hypotheses and also involve risks and uncertainties, known and unknown, many of which are beyond DiagnoCure's control. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Corporation's current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Corporation's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes and that they should not place undue reliance on these forward‐looking statements. For instance, any forward-looking statements regarding the outcome of research and development projects, clinical studies and future revenues, including those related to PROGENSA® PCA3, are based on management expectations and such outcome may vary materially depending on global political and economic conditions, dependence on collaboration partners, uncertainty of healthcare reimbursement, and marketing and distribution challenges. In addition, the reader is referred to the applicable general risks and uncertainties described in DiagnoCure's most recent Annual Information Form under the heading "Risk Factors". DiagnoCure undertakes no obligation to publicly update or revise any forward‐looking statements contained herein unless required by the applicable securities laws and regulations.
SOURCE DiagnoCure inc.