The Conversation (0)
SciVac Ltd. has advised Levon Resources (TSX:LVN) of its plans to nominate David Rector as an additional independent director of the Company upon closing of the plan of arrangement between SciVac, Levon Resources previously announced an arrangement agreement to acquire issued and outstanding shares of SciVac Ltd., a privately owned company in the commercial-stage biotech industry.
As quoted in the press release:
If the Arrangement is completed, Mr. Rector will join the five other nominees expected to be appointed as directors of the Company, as more fully described in the information circular of Levon dated May 1, 2015, bringing the total number of directors to six.
SciVac has also advised the Company that it intends to appoint Mr. Rector to the Company’s audit committee, upon the completion of the Arrangement. If the Arrangement is completed, Mr. Rector will join Dr. Dimitry Genkin and Kate Inman on the audit committee of the Company.
Mr. Rector has extensive experience in directorship and audit committee roles. Currently, he serves as a director and member of the compensation and audit committee of the Dallas Gold and Silver Exchange Companies Inc. Mr. Rector has been a director of Sevion Therapeutics Inc. (“Sevion”) since February 2002, and the interim Chief Executive Officer of Sevion since January 5, 2015. Prior to becoming the interim Chief Executive Officer of Sevion, as an independent director, Mr. Rector served on the audit committee and was the chair of the compensation committee. From January 2014 to January 2015, Mr. Rector was the Chief Operating Officer and a director of MV Portfolios, Inc. Since 1985, Mr. Rector has been the Principal of The David Stephen Group, which provides enterprise consulting services to emerging and developing companies in a variety of industries. Mr. Rector has previously served as an executive officer and a member of the board of directors of numerous other public and private companies. As a result of these professional and other experiences, Mr. Rector has a deep business understanding of developing companies and brings a wealth of corporate governance experience. Mr. Rector received a Bachelor of Science degree in Business/Finance from Murray State University in 1969.
Click here to read the Levon Resources (TSX:LVN) press release
Click here to see the Levon Resources (TSX:LVN) profile.