2/16/11 NVLX CEO buys 5 million shares @10% premium:
Nuvilex, Inc. President and Chief Executive Officer Sets Quarterly Agenda and Announces Purchase of 5M Restricted Shares
21 hours 38 minutes ago - BIZ via Comtex
BusinessWire
Nuvilex, Inc. (Pink Sheets: NVLX), announced today that Dr. Robert F. Ryan, newly appointed President and Chief Executive Officer, is pleased to present to the shareholders and investment community his corporate agenda for the upcoming quarter.
Commenting on his short-term goals for Nuvilex, Dr. Ryan stated, "One of my immediate objectives is to continue evaluating all existing products and to commercialize them in an orderly fashion through joint venture and distribution agreements, similar to the recently announced agreement with GGS Holdings, Inc., and through direct marketing campaigns. We are actively pursuing several unique market opportunities for our existing products and expect to announce distribution agreements and sales shortly. We have market-ready products which will be able to begin generating revenues as we add research and development of biotech products we have in our pipeline."
"As previously stated, the majority of my time and energy will be spent focusing our company's efforts in the biotech arena. Possessing core technologies, Nuvilex has many underutilized and unrecognized opportunities I aim to bring to bear as we push to market present valuable products and expand our unrealized pipeline potential. I will be working closely with our research teams and using my extensive background to secure joint venture agreements and other mechanisms to dramatically develop new products. In addition, we are studying new applications for existing technologies in various multi-billion dollar markets."
"Further, it is my intention to bring in a capable, business-oriented executive, also with a strong biotechnology background to assist in conducting day-to-day operations of Nuvilex. We will work together to advance the development, production, distribution, and marketing of the company's products. In addition, it's my intention that we will continue to pursue potential acquisition candidates where such transactions will be beneficial to increasing our marketable products, achieving our overall business objectives, and maximizing shareholder value. I anticipate that this individual's compensation will also be stock-based at the outset with a majority of the compensation being tied to successful accomplishments."
Dr. Ryan also announced, "As a result of my study of the present capabilities, potential of the pipeline and aims of the personnel associated with Nuvilex, that within the next ten days I will be infusing my own personal capital into Nuvilex as a restricted stock purchase. It is my aim to complete the five million share purchase of restricted stock from the company's treasury in an effort to provide Nuvilex some immediate cash flow relief, protecting staff and advancing products as we begin to redefine standards and quality for Nuvilex. The support from within and without this organization over the past week has only strengthened my resolve that this is an important and the right thing to do. I agreed to this stock purchase at a ten percent premium to the closing stock price on the day of my appointment as President and CEO and am happy to report it was ratified by the Board. Using my broad worldwide contacts and experience, I plan to enhance shareholder value by monetizing existing products, such as Oraphyte(TM) and Citroxin(TM), mobilizing previously acquired inventions and preparing them for marketing. Finally, I will be working on specific acquisitions that will widen our footprint and expand our potential. I have faith that my purchase of restricted shares speaks for itself as to my belief in what exists already inside Nuvilex and my commitment to achieve these objectives. I look forward to reporting our accomplishments in the coming weeks and months, looking ahead for a fulfilling year."
About Nuvilex, Inc.
Nuvilex, Inc. is a Green products company. The Company's current products include Cinnergen(TM), which promotes a healthy glucose metabolism; Cinnechol(TM), designed to help balance triglycerides and support cardiovascular function; Oraphyte(TM), an all-natural nematocide product line, highly effective in combating nematodes harmful to grass and plant growth; Citroxin(TM), a safe, non-toxic, all-natural product line capable of killing bacteria, virus, and fungus, even including Avian Flu and MRSA (Methicillin-resistant Staphylococcus aureus); Reme-Flu(TM), a unique, two-part homeopathic medicine for preventing and treating symptoms of flu manufactured by Legacy Biotechnologies, Inc.; Talsyn(TM), a unique, all natural Lipid-Peptide combination of ingredients used for the management of keloids, hypertrophic scars, erythema and surgical incisions; and Infinitink(R), a permanent, yet more easily removable, tattoo ink.
Shareholders and all persons interested in monitoring the progress of our company as we move forward are encouraged to subscribe to the electronic mailing list by submitting their email address to investors@nuvilex.com. We are happy to have noted an interest in our electronic mailing list opportunity and look forward to keeping our investors informed.
SOURCE: Nuvilex, Inc.
Investor Relations: Marmel Communications, LLC Marlin Molinaro, 702-434-8692 mmolinarofc@aol.com
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