Biostax Corp (BTAX)

[august1991]

NEWS
TNI BioTech, Inc. Files Schedule 14A and Announces Annual Meeting

8:00 AM ET 6/18/14 | PR Newswire

TNI BioTech, Inc. (OTC: TNIB) ("TNI" or the "Company") announced today that it will hold its 2014 Annual Meeting ("Annual Meeting") of Stockholders on August 25, 2014. The Company has fixed the close of business on July 11, 2014 as the record date for determining shareholders entitled to notice of, and to vote at, the Annual Meeting. At the Annual Meeting, stockholders will be asked to elect eight directors to serve until the 2015 annual meeting of stockholders and until their successors have been elected and qualified.

The Company also announced that a special committee of its Board of Directors has approved the Company's slate of nominees for election as directors at the 2014 Annual Meeting. The Company's slate includes incumbent directors Noreen Griffin, CEO, Christopher Pearce, COO, Eugene Youkilis, President, and the following new nominees for election to the board: Roger Bozarth, Joel Yanowitz, Jay Goldstein and Edward Teraskiewicz.

Roger Bozarth is the President of The Insurance Advantage, Inc. and Planning for Wealth Preservation, LLC, located in Orlando, Florida, which he founded in 1995. His firm specializes in estate, business, and charitable planning for affluent clients throughout the United States. In addition to his business experience, Mr. Bozarth is involved in a number of charitable organizations, including the U.S. Dream Academy in Baltimore, MD, and Desire Street Ministries in Atlanta, GA. Mr. Bozarth also serves on the boards of Edgewood Children's Ranch and Love Orlando in Orlando, FL. Mr. Bozarth attended the University of South Florida where he pursued an Electrical Engineering degree.

Joel Yanowitz is the Founder of the The Cascade Group, Inc., where he has served as President since 2001. With over 35 years of experience as an entrepreneur, business advisor, and consultant, his current focus is on helping clients leverage the human side of their organizations to accelerate growth and innovation. His clients have included numerous Fortune 500 and well known entrepreneurial and growth companies such as Procter & Gamble Company, Clorox Company, The Coca-Cola Company, Electronic Arts Inc., Nissan Motor Co. Ltd, EMC Corp., and Travelocity.com. He has founded and built three successful consulting and training companies and has also helped create and grow several non-profit organizations. From 1995-2000, Mr. Yanowitz was a Vice President of Arthur D. Little, a global management consulting and technology development company, where he led the organization practice area. Prior to that, he co-founded Innovation Associates, Inc., a consulting and executive development firm that pioneered the field of organizational learning and served as its Managing Director. Earlier in his career, Mr. Yanowitz founded R.E.C., Inc., an international training company. Mr. Yanowitz has served on a number of corporate and non-profit boards. He currently serves on the boards of directors of the African Food and Peace Foundation, CorStone, and Upstart Bay Area.

Jay Goldstein is a Managing Director at Gartland and Mellina Group. Prior to that, Mr. Goldstein was a founding partner at Avalon Lake Partners, a spin-out from WTP Advisors, from 2008 to 2013. Mr. Goldstein has over 30 years of financial services experience. He was a member of Sala Associates from its inception, and previously owned and operated a consulting firm focused on financing and turning around distressed companies. Mr. Goldstein has acted as the Chief Administrative Officer/Chief Operating Officer for a trade execution platform and as the Chief Financial Officer for the technology group of a renowned global macro hedge fund. Additionally, he has held various senior level positions at Salomon Brothers, including as Deputy Head of Asia Pacific Equities and as Deputy Head of Global Equity Derivatives. Mr. Goldstein earned his B.S. from the School of Professional Accounting at CW Post College, part of Long Island University.

Edward Teraskiewicz has over 35 years of financial services experience. From 1992 to 2004, Mr. Teraskiewicz was 50% owner Co-Founder, Chief Executive Officer and Director of Prebon Yamane International Limited, one of the world's pre-eminent money brokerage firms, with over 1700 employees in 17 cities around the world with revenue over $500,000,000 annually. Mr. Teraskiewicz, having retired from daily operations at the end of 1994, continued his involvement with Prebon Yamane as a member of the Board of Directors of Fulton Prebon Group U.K., the holding company which held the money brokerage business, until October 2004, at which time he resigned from the Board and became Senior General Partner upon a merger with Collins, Steward, Tullett. Since 2004, Mr. Teraskiewicz has been overseeing and managing various residential real estate development projects and has been an investor in numerous other companies in the music and financial industry. Mr. Teraskiewicz is a graduate of the American Institute of Banking.

Regarding the nomination of these new board nominees, Noreen Griffin, Chief Executive Officer of the Company, stated: "We are very excited by the addition of these highly qualified candidates to our board slate. We expect they will bring to the Board a wealth of experience that will be tremendously valuable as we continue our efforts towards profitability and create value for our stockholders."

The Company also confirmed that a stockholder group has provided timely notice that it intends to nominate candidates to stand for election as directors at the 2014 Annual Meeting. Commenting on this notification, Ms. Griffin stated, "We firmly believe that election of the slate of nominees chosen by the board's special committee is in our stockholders' best interests. Many of the concerns expressed by this stockholder group have been shared with us by other stockholders and we have made important efforts to address and resolve them, including by broadening the talent pool on our Board of Directors with the slate announced today and by the Board approval to begin a search for a new President with industry experience. We believe the Company is on the right track."

Following the business portion of the Annual Meeting, Company Management will discuss recent progress including the proposed spin-off of Cytocom, Inc. and TNI business development.

Important Information

TNIB will file a proxy statement in connection with its 2014 Annual Meeting of Stockholders and advises stockholders to read that proxy statement when it becomes available because it will contain important information. Stockholders will be able to obtain a free copy of that proxy statement and other documents (when available) that TNIB files with the Securities and Exchange Commission at the Commission's website at http://www.sec.gov and at TNIB's website at http://tnibiotech.com. In addition, copies of the proxy materials may be requested by contacting our proxy solicitor, Guardian Registrar & Transfer Inc., at 1-954-915-0105 or by email at [e-mail].

TNIB, its directors, director nominees and executive officers may be deemed to be participants in TNIB's solicitation of its security holders in connection with its 2014 Annual Meeting of Stockholders. The names and direct or indirect interests of the current TNIB directors and executive officers may be found in its Annual Report on Form 10-K/A filed with the SEC on June 17, 2014. To the extent holdings of TNIB's securities have changed since the amounts disclosed in such Form 10-K/A, such changes have been or will be reflected on Forms 3, 4 and 5 filed with the SEC and will be reflected in the 2014 Proxy Statement. Additional information regarding TNIB's directors, director nominees and certain of its officers will be included in the 2014 Proxy Statement.