Theralase Announces Leadership Transition
Theralase Technologies Inc. (TLTFF) announces the departure of CEO Shawn Shirazi, effective August 20, 2021. John Trikola will step in as Interim CEO and COO on August 23, 2021. Trikola brings over 25 years of technology experience, previously serving as president of Gardner Ross Corp, focusing on turnaround projects. He aims to enhance the company’s strategy, particularly in the Cool Laser Therapy division, while maximizing long-term shareholder value. The company specializes in developing light-activated compounds for cancer treatment.
- John Trikola's extensive experience in technology and management is expected to bring fresh perspectives.
- Focus on enhancing the Cool Laser Therapy division may lead to increased revenue.
- The sudden departure of the CEO might raise concerns about continuity in leadership.
TORONTO, Aug. 19, 2021 (GLOBE NEWSWIRE) -- Theralase® Technologies Inc. (“Theralase®” or the “Company”) (TSXV: TLT) (OTCQB: TLTFF), a clinical stage pharmaceutical company dedicated to the research and development of light activated Photo Dynamic Compounds (“PDC”) and associated drug formulations, announced today the departure of its Chief Executive Officer (“CEO”), Shawn Shirazi effective August 20, 2021.
Effective August 23, 2021, John Trikola will assume the role of Chief Operating Officer (“COO”) and Interim CEO for the Company. John brings over 25 years of technology experience working with companies ranging from startups to global Fortune 500 companies. Most recently, John was the president of Gardner Ross Corp., where he provided turnaround and restructuring engagements to various companies in the technology, manufacturing, and retail sectors.
In addition to his senior management roles, John currently serves as a Board Director for Waypoint Centre for Mental Health Care and has served on the Board of Directors and as Chair of the Fundraising Committee for The Sandbox Project, the Board of Directors and Governance Committee for the Lougheed House Conservation Society and as a Mentor and Advisory for the Startup Community at Innovate Calgary's Alberta Deal Generator.
John stated, “I am honored to join Theralase® as the COO and Interim CEO. I have developed a deep appreciation for what makes Theralase® so special and I believe the Company has tremendous opportunities in front of it to capitalize on the innovation and technological advancements that the Company has demonstrated to date. I look forward to working with all stakeholders to enhance the buyer experience and provide additional capabilities that will help health care practitioners sustain and grow their businesses. I will focus on continuing to evolve the Company's strategy while delivering on Theralase®'s commitment to maximizing long-term shareholder value.”
Matthew Perraton, Chairman of the Board of Directors of Theralase® stated, “On behalf of the board of directors, we thank Shawn for his service as the CEO of the Company and welcome John to the team. We look forward to working with him as he brings his extensive experience and knowledge to the Company, to grow the revenues of the Cool Laser Therapy (“CLT”) division.
About Theralase® Technologies Inc.
Theralase® is a clinical stage pharmaceutical company dedicated to the research and development of innovative Anti-Cancer Therapy (“ACT”) technologies intended to safely and effectively destroy various cancers, bacteria and viruses, while preserving patient Quality Of Life (“QOL”).
Additional information is available at www.theralase.com and www.sedar.com
Forward Looking Statement:
This news release contains "forward-looking statements" which reflect the current expectations of the Company's management for future growth, results of operations, performance, business prospects and opportunities. Such statements include, but are not limited to, statements regarding the Company's proposed development plans with respect to Anti-Cancer Therapy technologies. Wherever possible, words such as "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "potential for" and similar expressions have been used to identify these forward-looking statements. These statements reflect management's beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant risks, uncertainties and assumptions; including, with respect to the ability of the Company to: adequately fund, secure the requisite regulatory approvals to commence and successfully complete a Phase II NMIBC clinical study in a timely fashion and implement its commercialization plans. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements; including, without limitation, those listed in the filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedar.com). Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in the press release are based upon what management currently believes to be reasonable assumptions, the Company cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise except as required by law. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.
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.
For More Information:
1.866.THE.LASE (843.5273)
416.699.LASE (5273)
www.theralase.com
Kristina Hachey, CPA
Chief Financial Officer
khachey@theralase.com
416.699.LASE (5273) x 224
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