BURLINGTON, ON, April 15, 2015 /CNW/ - EcoSynthetix Inc. (TSX:
ECO) ("EcoSynthetix" or the "Company"), a renewable
chemicals company that produces a family of commercially proven
bio-based products, announces that management intends to nominate
David Colcleugh, Jeff MacDonald, John E.
Barker, John Varghese,
Arthur Carty and Paul Lucas for election to the Company's board
of directors at its upcoming annual and special meeting of
shareholders to be held on May 8,
2015 (the "Meeting"). Mr. Lucas is a director
nominee proposed by Lions Investment Ltd. ("Lions"). Lions
has agreed to withdraw the director nominations it had previously
submitted to the Company and support the election of management's
director nominees.
"We are pleased to strengthen our Board with the addition of a
new, highly qualified, and independent director nominee, who will
add valuable experience and fresh perspective to the EcoSynthetix
Board," said David Colcleugh,
Chairman of the Company. "We remain committed to the implementation
of our previously announced strategic plan and look forward to
returning the business to its growth trajectory and working
collaboratively with Management to generate value for the Company's
shareholders."
The Company expects to mail a management information circular to
shareholders in relation to the Meeting on or prior to April 17, 2015.
About EcoSynthetix Inc. (www.ecosynthetix.com)
EcoSynthetix Inc. is a renewable chemicals company specializing
in bio-based products that can be used as inputs in industrial
manufacturing for a wide range of consumer products. The Company's
products offer a reduced carbon footprint and are marketed
primarily on the basis of lower cost, stable pricing and equal or
superior performance. EcoSynthetix's lead product, EcoSphere®
biolatex® binders, is used commercially by a number of the global
top 20 manufacturers in the coated paper and paperboard
industry.
Forward Looking Statements
This press release contains certain forward-looking statements
about the Company's future plans and intentions, including
statements relating to the Company's intention to implement changes
across it business to achieve growth. Wherever possible, words such
as "may", "will", "should", "could", "expect", "plan", "intend",
"anticipate", "believe", "estimate", "predict", "scheduled" or
"potential" or the negative or other variations of these words, or
similar words or phrases, have been used to identify these
forward-looking statements. These statements reflect Management's
current beliefs and are based on information currently available to
management as at the date hereof. Those statements include,
but are not limited to, statements relating to nomination of
directors for election at the Meeting and the information circular
relating thereto.
Forward-looking statements involve significant risk,
uncertainties and assumptions. Many factors could cause actual
results, performance or achievements to differ materially from the
results discussed or implied in the forward-looking statements.
These factors should be considered carefully and readers should not
place undue reliance on the forward-looking statements. Although
the forward-looking statements contained in this press release are
based upon what management believes to be reasonable assumptions,
the Company cannot assure readers that actual results will be
consistent with these forward-looking statements. These
forward-looking statements are made as of the date of this press
release, and the Company assumes no obligation to update or revise
them to reflect new events or circumstances, except as required by
law.
SOURCE EcoSynthetix Inc.