CALGARY, Nov. 20, 2012 /PRNewswire/ - The Board of Directors of Epicore BioNetworks Inc. is pleased to announce that Mr. Russell Rosenzweig has accepted the position of Epicore Chief Financial Officer and Company Secretary. Mr. Rosenzweig has been Epicore Networks (U.S.A.), Inc. Controller since May 2012. Mr. Rosenzweig joins the Company in a period of strong sales growth and at the beginning of a new phase in corporate manufacturing capability. Mr. Rosenzweig's varied financial experience is expected to contribute significantly as the Company looks to expand its core aquaculture business and to explore new business growth initiatives.
Mr. Rosenzweig replaces Mr. Keith Blackman as CFO. Mr. Blackman, who also is the President of Karver Consulting Services, has relocated his business to Florida. He has been Epicore's CFO since September 2007. The Board wishes him well.
Epicore BioNetworks Inc. announces that it has granted stock options to officers and employees of the company. The number of options granted to officers is 400,000 and to employees also is 400,000. The total 800,000 granted is equivalent to 3.3% of Epicore's issued common stock. Under the terms of the Epicore Stock Option Plan, options may be issued from time to time in any amount up to a maximum of 4,704,246 Epicore common shares. These options have an exercise price of Cdn $0.215 and expire in five years.
Epicore BioNetworks Inc. is a leading producer of environmental biotechnology and animal nutrition products. It manufactures in the USA and markets worldwide to a variety of industries to reduce environmental pollution and increase operational productivity. Epicore is a major supplier to the shrimp aquaculture industry.
Epicore BioNetworks Inc. is a public corporation with a registered office in Calgary, Alberta, Canada and with shares listed on the TSX Venture Exchange (symbol EBN). [Neither 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.]
This press release contains forward-looking statements that involve significant risks and uncertainties. The actual results, performance or achievements of the company might differ materially from the results, performance or achievements of the company expressed or implied by such forward-looking statements. Such forward-looking statements include, without limitation, those regarding the future growth of the Company, the development plans of the company, and the expected timing and results of such development. We can provide no assurance that such development will proceed as currently anticipated, that the expected timing or results of such development will be realized or that the company will be able to generate sufficient cash to meet its obligations. We are subject to various risks, including the uncertainties of product development, markets for our products and regulatory review, our need for additional capital to fund our operations, our reliance on collaborative partners, our history of losses, and other risks inherent in the biotechnology industry.
SOURCE Epicore BioNetworks Inc.