Fuse Science Moves to Majority Independent Board and Fully Staffs Audit, Compensation and Scientific Advisory Committees Comprised of Independent Directors
14 Mar, 2012, 12:33 ET
MIAMI LAKES, Fla., March 14, 2012 /PRNewswire/ -- Fuse Science Inc. (OTCQB: DROP), (www.fusescience.com), announced today that it has appointed additional members to its Board of Directors, such that a majority of the members of our Board are now independent. Yesterday, Fuse Science announced that Dr. R. Douglas Armstrong had been appointed as a director. Today, Fuse Science is announcing that Dr. James Frederick, Neil Chin and Rick Harris who are currently members of our Advisory Board, are stepping down from such positions to join our Board of Directors. In addition, Rubin Hanan, our President and COO, is also being appointed to the Board of Directors. As a result of these additional appointments, six of our ten Board members are independent directors.
"This move represents another key milestone in our strategy to build this company to its full potential," said Brian Tuffin, Fuse Science's Chief Executive Officer. "It is our firm belief that the promise of our technology merits the best team and authority in order to build significant long-term shareholder value."
As part of our implementation of "best practices" in corporate governance, Fuse Science is also announcing that the Board has established Audit, Compensation and Scientific Advisory Committees comprised solely of independent directors.
- The Audit Committee members are: Dr. Douglas Armstrong, Mr. Neil Chin and Dr. Richard Hutchings
- The Compensation Committee members are: Dr. James Frederick, Mr. Rick Harris, and Dr. David Berkoff
- The Scientific Advisory Committee members are: Dr. Richard Hutchings, Dr. David Berkoff and Dr. Douglas Armstrong
"Our recent licensing and distribution agreement with Mission Athletecare™ is just the beginning of our company's growth and expansion," added Tuffin. "We fully anticipate announcing additional future licensing agreements as we expand the applications of our proprietary technology and what it means to be Powered by Fuse!™"
About Fuse Science Inc.
Fuse Science Inc. (OTCQB: DROP), is an innovative consumer products holding company based in Miami Lakes, Florida. Fuse Science is the developer of new, patent-pending technologies poised to redefine how consumers receive energy, medicines, vitamins and minerals. The company has successfully developed and maintains the rights to sublingual and transdermal delivery systems for bioactive agents that can now, for the first time, effectively encapsulate and charge many varying molecules in order to produce complete product formulations which can bypass the gastrointestinal tract and enter the blood stream directly - all in a concentrated "DROP" form that is simply applied under the tongue. The Fuse Science technology is designed to accelerate conveyance of medicines or nutrients relative to traditional pills and liquids and can enhance how consumers receive these products. Information about Fuse Science is available online at www.fusescience.com and www.poweredbyfuse.com or by calling 305-503-FUSE (3873).
Safe Harbor Statement: Certain statements and information included in this release may constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
SOURCE Fuse Science Inc.
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