StageZero Life Sciences Corporate Update
StageZero Life Sciences has appointed Richard Huston to its Board of Directors as part of the Health Clinics acquisition, which closed on September 2, 2021. The company aims to enhance its board's skill set following the acquisition. A special shareholders meeting is scheduled for December 9, 2021, to approve contingent compensation for Health Clinics in shares or royalties. The acquisition involves issuing 15 million shares upon closing and an additional 8 million shares tied to achieving $4 million in revenue from the AVRT program between September 2021 and December 2022.
- Appointment of Richard Huston to the Board of Directors enhances company expertise.
- Integrated operations following the acquisition of Health Clinics, boosting potential growth.
- The introduction of new diagnostic programs is generating increased interest among stakeholders.
- Contingent compensation linked to Health Clinics' revenue milestones may affect stock performance.
- Dependence on achieving $4 million in revenue from AVRT to unlock additional shares.
TORONTO, ON / ACCESSWIRE / November 9, 2021 / StageZero Life Sciences (TSX:SZLS) (OTCQB:SZLSF) ("StageZero" or the "Company"), a vertically integrated healthcare company devoted to improving the early detection and management of cancer and other chronic diseases through leading edge molecular diagnostics and clinical interventions, today announced a corporate update.
As previously announced, Richard Huston has now been appointed to the StageZero Life Sciences Board of Directors. His appointment is part of the terms of the Health Clinics acquisition that closed on September 2, 2021.
"We welcome Richard to the Board and it is the first step to us expanding our number of Directors as well as diversifying skill sets and expertise" commented James Howard-Tripp, Chairman and CEO. "With a much larger, integrated company we have significantly added to the depth of the management group and now have the opportunity to do the same at Board level".
Richard has over 30 years experience in the Financial Industry and in that time has held Executive roles in Asia, Europe and the UK. He has been involved in start ups and small businesses in both the UK and the US and is currently the Managing Director of Seek Group, a pharmaceutical company and holds several related Directorships in Biotech.
The date for a Special Shareholders meeting has been set for Thursday December 9, 2021. As previously disclosed, the purpose of the meeting is for shareholders to approve whether the contingent compensation to be paid to Health Clinics is paid in shares or via a royalty.
The acquisition of Health Clinics was an all share deal, with 15M shares paid upon closing, and 8M shares to be paid should the acquired Health Clinics businesses achieve certain revenue performance milestones.
The milestones are the generation of US
"The combination of CareOncology and StageZero Life Sciences has come together very quickly and we are operating as an integrated company" said James Howard-Tripp. "We are showing growth in TREAT, our program for critically ill cancer patients, and the introduction of Aristotle and AVRT are generating the interest we anticipated amongst patients, physicians and healthcare groups. It is an exciting time for us".
About StageZero Life Sciences Ltd.
StageZero Life Sciences, Ltd. is a vertically integrated healthcare company dedicated to improving the early detection and management of cancer and other chronic diseases through next-generation diagnostics and a unique telehealth program that provides clinical interventions to help patients reduce the risk of developing late-stage disease (AVRT™).
The Company's next generation test, Aristotle™, is the first ever multi-cancer panel for simultaneously screening for multiple cancers from a single sample of blood with high sensitivity and specificity for each cancer. Aristotle™ uses mRNA technology to identify the molecular signatures of multiple cancer types and is built on the Company's patented technology platform, the Sentinel Principle. This underlying technology has been validated in more than 9,000 patients and used by more than 100,000 patients in North America.
Aristotle™, as well as additional cancer diagnostics (ColonSentry®, BreastSentry™, and the Prostate Health Index) are processed at the Company's clinical laboratory, StageZero Life Sciences, Inc., a CAP accredited and CLIA certified high-complexity reference laboratory in Richmond, Virginia. In addition, the Company is also leveraging its specialty in polymerase chain reaction (PCR) testing to provide COVID-19 PCR testing (swab and saliva) and Antibody Testing (blood analysis).
StageZero Life Sciences trades on the Toronto Stock exchange under the symbol SZLS and on the OTCQB under the symbol SZLSF.
STAGEZERO LIFE SCIENCES LTD.
For further information please contact:
Rebecca Greco
Investor Relations
Tel: 1-855-420-7140 ext. 1838
rgreco@stagezerols.com
SOURCE: StageZero Life Sciences Ltd
View source version on accesswire.com:
https://www.accesswire.com/672013/StageZero-Life-Sciences-Corporate-Update
FAQ
What is the significance of Richard Huston's appointment to StageZero Life Sciences?
When is the special shareholders meeting for StageZero Life Sciences scheduled?
What are the contingent compensation terms for Health Clinics related to StageZero Life Sciences?
What is the revenue milestone StageZero Life Sciences needs to achieve?
