Immunovaccine Appoints James Hall as New Board Member
HALIFAX, NOVA SCOTIA -- (MARKET WIRE) -- 02/23/10 -- Immunovaccine Inc. (TSX VENTURE: IMV) announced today that James W. Hall, C.A. has been appointed to its Board of Directors. With over 25 years of financial and investment experience in Canada and the U.S., Mr. Hall will serve as chair of Immunovaccine's audit committee.
"Mr. Hall is a seasoned executive with international finance experience. His expertise and independent leadership will be a valued addition to our Board as we advance our DepoVax vaccine delivery technology into the clinic and continue to build shareholder value," said Dr. Randal Chase, president and CEO of Immunovaccine.
"I look forward to working with the Board to support Immunovaccine's continued growth in developing its own proprietary DepoVax-based vaccines in-house and through global collaborations," said James Hall.
Mr. Hall is currently president and CEO of James Hall Advisors. Most recently, Mr. Hall was with Journal Register Company as Chair and CEO, where he led the Philadelphia-based company through a complete reorganization and consensual capital restructuring. Before that he was Senior Vice President and Chief Investment Officer of Working Ventures Canadian Fund Inc., a national labour-sponsored investment fund. Mr. Hall is also a director on many boards including: Indigo books & Music Inc., Global Credit Pref Corp., Adventus Intellectual Property Inc., and is a trustee of Omers Trust. A Chartered Accountant, Mr. Hall is a graduate of the Richard Ivey School of Business and is a Council member of Ivey's Institute for Entrepreneurship.
In conjunction with this appointment, Mr. Hall has been granted 50,000 stock options under Immunovaccine's Stock Option Plan, exercisable at a price of $1.26 per common share. The options have a term of five years and vest over a period of 18 months.
Immunovaccine Inc. (TSX VENTURE: IMV) is a clinical stage vaccine development company focused on the commercialization of its patented DepoVax vaccine delivery technology and product candidates. The company continues to strengthen its vaccine pipeline through licensing and strategic partnerships to develop therapeutic cancer and infectious disease vaccines. www.imvaccine.com
This press release contains forward-looking information under applicable securities law. All information that addresses activities or developments that we expect to occur in the future is forward-looking information. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. However, they should not be regarded as a representation that any of the plans will be achieved. Actual results may differ materially from those set forth in this press release due to risks affecting the Company, including access to capital, the successful completion of clinical trials and receipt of all regulatory approvals. Immunovaccine Inc. assumes no responsibility to update forward-looking statements in this press release.
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.
Contacts: Immunovaccine Inc. Mr. Gary Dodge CFO (902) 492-1819 email@example.com Immunovaccine Inc. Jennifer Ayotte Director Communications (902) 492-1819 firstname.lastname@example.org www.imvaccine.com
Released February 23, 2010