Osta Announces Results of AGM, Grants Options
July 05 2010 - 7:25AM
Marketwired
Osta Biotechnologies Inc. (TSX VENTURE: OBI) announces that at the
annual meeting held on June 22, 2010, Osta's shareholders
re-elected a Board of Directors comprised of Dr. Ajay Gupta, Dr.
Andrew Karaplis, Dr. Aldo Baumgartner, Mr. Paul L'Archeveque and
Mr. Leontis Teryazos. Dr. Gupta is the Chairman of the Board and
Chief Executive Officer of Osta and Dr. Karaplis is the President.
The shareholders also re-appointed WSBG LLP, Chartered
Accountants, as auditors of the corporation.
Osta is also pleased to announce the appointment of Mr. William
Waks as Vice-President, Finance and Chief Financial Officer,
effective June 22, 2010. Mr. Waks was previously the consulting
Chief Financial Officer of the corporation. Dr. Gupta stated "We
are thrilled to have Mr. Waks as part of our senior management team
and are confident that he will have a positive impact on the
corporation as we continue to look for financing and partnership
opportunities and ways in which to advance our technologies."
Osta also announces that its Board of Directors has granted an
aggregate of 1,375,000 options pursuant to the corporation's stock
option plan to its directors, officers and a consultant. The
options vest immediately and may be exercised at a price per share
of $0.10 for a period of 10 years.
There are currently 43,786,528 common shares of Osta issued and
outstanding.
About Osta Biotechnologies Inc.
Osta is a biopharmaceutical company listed on the TSX Venture
Exchange currently focusing on developing therapeutics for Cancer
and Alzheimer's disease.
Neither the 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.
Contacts: Osta Biotechnologies Inc. Dr. Ajay Gupta Chairman
& CEO 514-626-9519
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