- David Tsur's 40 years of Biotech experience further strengthens the Board at a critical phase of the Company's growth
- His appointment reinforces the Company's primary focus on becoming a Biotech leader, leveraging the power of its platform technology to disrupt multiple business verticals
BioHarvest Sciences Inc. (CSE: BHSC) (FSE: 8MV) ("BioHarvest" or the "Company") today announced that David Tsur has agreed to serve as a non-executive director of BioHarvest. The appointment is effective immediately.
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"We are excited to welcome David to Bioharvest's board," said Dr. Zaki Rakib, Chairman of the Board. "BioHarvest is committed to world-class governance, and our ability to attract someone of David's caliber demonstrates the strength of our business."
David Tsur said: "I am very excited to join the Board of BioHarvest. I truly believe that BioHarvest's proprietary BioFarming technology will revolutionise a number of industries, and I look forward to working with the Board and management to fully operationalise this vision."
Ilan Sobel, CEO of BioHarvest, commented: "David is an important addition to the Board as we look to deliver against the Company's strategic objectives. Most importantly, David joining the Board is a testament to our ability to attract highly qualified individuals to join our team. I have spent significant time already with David and am confident he will play a key role in helping myself and the leadership team deliver on our Biotech Vision for the Company."
The Board has granted Mr. Tsur 400,000 options. The stock options granted are exercisable to purchase a common share of the Company at a price of CAD$ 0.345 and will vest quarterly over a 3-year period and are valid for 10 years.
Mr. Tsur is the co-founder of Kamada Ltd, a public company listed on both the NASDAQ and Tel-Aviv Stock Exchange. He served as its Chief Executive Officer and on its Board of directors since the Company's inception in 1990. He currently serves as Deputy Chairman of the Board.
He also serves as the Chairman of Kanabo Group Plc, a company listed on the London Stock Exchange, which focuses on distributing Cannabis-derived products for medical patients and non-THC products for CBD consumers.
Before co-founding Kamada, Mr. Tsur was the Chief Executive Officer of Arad Systems and RAD Chemicals Inc. He has also held various positions in the Israeli Ministry of Economy (formerly named the Ministry of Industry and Trade), including Chief Economist and Commercial Attaché in Argentina and Iran.
During his career, Mr. Tsur has been responsible for generating sales of more than $1 billion (USD) for companies operating in more than 20 countries. He has also built multiple strategic relationships with U.S. and European companies while leading these companies through the innovation processes.
Mr. Tsur holds a BA degree in Economics and International Relations and an MBA in Business Management from the Hebrew University of Jerusalem.
About BioHarvest Sciences Inc.
BioHarvest Sciences Inc. (CSE: BHSC) is a fast-growing Biotech firm listed on the Canadian Securities Exchange. BioHarvest has developed a patented bio-cell growth platform technology capable of growing the active and beneficial ingredients in fruit and plants, at industrial scale, without the need to grow the plant itself. This technology is economical, ensures consistency, and avoids the negative environmental impacts associated with traditional agriculture. BioHarvest is currently focused on nutraceuticals and the medicinal cannabis markets. Visit: www.bioharvest.com.
BioHarvest Sciences Inc.
Ilan Sobel, Chief Executive Officer
For further information, please contact:
Dave Ryan, VP Investor Relations & Director
Phone: 1 (604) 622-1186
Information set forth in this news release might include forward-looking statements that are based on management's current estimates, beliefs, intentions, and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. There is no assurance that we will achieve our objective of making our products available in multiple markets and exposing our technology to different verticals. There is no assurance that the Company will be successful in expanding its technology to broader medical applications or conduct clinical trials to validate the efficacy of the Company's products for new forms of medical treatments. Clinical trials are subject to risks of significant cost overruns and lengthy delays with no assurance they will confirm desired results. Even where desired results are obtained government approvals for treatments take considerable time and cannot be guaranteed. There is no assurance that we will achieve our objective of being a leading supplier of Cannabis. Delays and cost overruns may result in delays achieving our objectives obtaining market acceptance and regulatory approvals for geographic expansion is subject to risk and cannot be guaranteed. Projected sales of Cannabis will require the company to obtain production and / or export licensing which cannot be assured.
All forward-looking statements are inherently uncertain and actual results may be affected by a number of material factors beyond our control. Readers should not place undue reliance on forward-looking statements. BHSC does not intend to update forward-looking statement disclosures other than through our regular management discussion and analysis disclosures.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.
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