Braxia Scientific Announces Change in Directors and CEO

Rhea-AI Summary

Braxia Scientific Corp. (CSE: BRAX) (OTC Pink: BRAXF) announced significant changes in its leadership structure. Jerry Habuda resigned as director on November 12, 2024, with Peter Rizakos appointed as his replacement on the same date. Additionally, Roger McIntyre stepped down from his positions as director and CEO on November 13, 2024. Following these changes, the company's board of directors now consists of Ahmed Shehata and Peter Rizakos.

Positive

• None.

Negative

• CEO Roger McIntyre's resignation could create leadership uncertainty
• Multiple simultaneous leadership changes may impact company stability
• No immediate CEO replacement announced

Toronto, Ontario--(Newsfile Corp. - November 18, 2024) - Braxia Scientific Corp. (CSE: BRAX) (OTC Pink: BRAXF) (FSE: 4960) ("Braxia", or the "Company") announced that Jerry Habuda has resigned as a director effective November 12, 2024. Peter Rizakos was appointed on the same date by the remaining directors. Roger McIntyre resigned as a director and CEO effective November 13, 2024. The current directors of the Company are Ahmed Shehata and Peter Rizakos.

About Braxia Scientific Corp.

Braxia Scientific is a medical research and telemedicine company with a clinic that provide innovative ketamine treatments for persons with depression and related disorders. Braxia Health (formerly the Canadian Rapid Treatment Center of Excellence Inc.), operates a multidisciplinary community-based clinic offering rapid-acting treatments for depression located in Mississauga.

ON BEHALF OF THE BOARD

Peter Rizakos
Director

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FOR FURTHER INFORMATION PLEASE CONTACT:

Braxia Scientific Corp.
Tel: 416-762-2138
Email: info@braxiascientific.com
Website: www.braxiascientific.com

The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-looking Information Cautionary Statement

This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance are "forward-looking statements."

Forward-looking statements include statements about the intended promise of ketamine-based treatments for depression, the potential for ketamine or other psychedelics to treat other mental health conditions, the ability of Braxia's business strategies, including in telemedicine, to address the unmet need for mental health disorders or expand or accelerate the growth of Braxia. Such forward- looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events, or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the failure of ketamine, psilocybin and other psychedelics to provide the expected health benefits and unanticipated side effects, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, municipal, local or other licenses and engaging in activities that could be later determined to be illegal under domestic or international laws. Ketamine and psilocybin are currently Schedule I and Schedule III controlled substances, respectively, under the Controlled Drugs and Substances Act, S.C. 1996, c. 19 (the "CDSA") and it is a criminal offence to possess such substances under the CDSA without a prescription or a legal exemption. Health Canada has not approved psilocybin as a drug for any indication, however ketamine is a legally permissible medication for the treatment of certain psychological conditions. It is illegal to possess such substances in Canada without a prescription.

These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements.

Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, including the Amended and Restated Listing Statement dated April 15, 2021 and its most recent MD&A, which are available at www.sedar.com. 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 forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230516

FAQ

When did Roger McIntyre resign as CEO of Braxia Scientific (BRAXF)?

Roger McIntyre resigned as CEO and director of Braxia Scientific on November 13, 2024.

Who are the current directors of Braxia Scientific (BRAXF) as of November 2024?

The current directors of Braxia Scientific are Ahmed Shehata and Peter Rizakos.

What leadership changes occurred at Braxia Scientific (BRAXF) in November 2024?

Jerry Habuda resigned as director on November 12, Peter Rizakos was appointed as director on the same date, and Roger McIntyre resigned as CEO and director on November 13, 2024.