'Following a thorough review of our pipeline and business operations with the goal of creating a strategy optimized for success, the Devonian team has established a clear vision and elucidated our strategic imperatives. Based on the value of our assets, our abilities and resources, and our objective to maximize shareholder value, we have established a set of priorities and plans to achieve our vision and have organized our leadership team accordingly,' said
The changes to the Company's Management and Board, effective immediately, include:
Additionally,
'Luc and David have provided tremendous insight to the Company since their Board appointments earlier this year. Moving forward, they will be extremely valuable as we prepare to propel the Company toward our next phase of growth and opportunity. We believe that Luc's demonstrated financial and strategic leadership scaling healthcare and data-oriented technology companies, coupled with his extensive experience and deep network in the capital markets will be instrumental in guiding, executing and accelerating the plethora of opportunities that exist for Devonian and its stakeholders' commented Dr.
'I am thrilled to expand my role and lead Devonian as CEO. We are preparing to enter a transformational phase for Devonian. The strength of our team and the alignment of its expertise is exactly what is needed to have a catalytic impact on our business. It is more important than ever that the Company is able to maximize the opportunities that exist with the pipeline and core areas of focus while maintaining a strong strategic and governance focus. With that in mind, the leadership structure we now have in place will enable us to take a significant step toward accelerating our clinical development and drive revenue growth and commercial success,' said
Grant of Stock Options
In addition to the leadership changes, Devonian announced that the Board has approved the granting of 2,934,610 options to
The grant of the options is subject to the approval of the
About Devonian
Cautionary Note Regarding Forward-Looking Statements
All statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to the performance of the Company following the changes to its Management and Board constitute, 'forward-looking information' or 'forward-looking statements' within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that these assumptions will prove to be correct and there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about Management's expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the applicable securities regulators of
Contact:
Mr.
Tel: 347-322-8490
Email: ldgregoire@groupedevonian.com
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