Co PR Now- PG Selected for money connections
Nuvilex, Inc. Appoints Patricia Gruden as Interim Chairman, Chief Executive Officer, and President
3 minutes ago - Businesswire
Related Companies
Symbol Last %Chg
NVLX 0.0080 2.56%
As of 10:32 AM ET 9/22/10
Nuvilex, Inc. (Pink Sheets: NVLX), announced today that Patricia Gruden will be returning to her former position as Chairman, CEO, and President of the Company.
The Company's former Chairman, CEO, and President, Martin Schmieg tendered his resignation on Friday, September 17, 2010 for personal reasons. The Board of Directors accepted Mr. Schmieg's resignation and unanimously re-appointed Patricia Gruden as his interim replacement.
The nomination of Patricia Gruden was initiated by Timothy Matula, Director. Mr. Matula stated, "The appointment of Patricia Gruden was a carefully thought-out decision by the Board of Directors -- particularly because she has a tremendous amount of credibility with the initial funding groups and high net worth investors, as well as with many of the Company's products' vendors. Further, when Pat retired approximately 18 months ago, Nuvilex was debt free and had over $1.5 Million cash in the bank and under her leadership we feel confident that the Company can return to financial respectability. We welcome Pat's return and are ready to work with her to reorganize and guide the company into its next phase of development."
"I am pleased to resume as interim Chairman, CEO, and President and look forward to informing the shareholders in the near future of the steps that I will be taking to move the Company forward and enhance shareholder value," added Patricia Gruden, Chairman, CEO, and President of Nuvilex, Inc.
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 maintain normal triglyceride levels and support normal cardiovascular function; Oraphyte(TM), an organic nematocide product line highly effective in combating bacteria that is harmful to grass and plant growth; Reme-Flu(TM), a unique, two-part homeopathic medicine for preventing and treating symptoms of flu which is manufactured and marketed by Legacy Biotechnologies, Inc. using Nuvilex intellectual property; Talsyn(TM), a Lipid-Peptide compound used for the management of keloids, hypertrophic scars, erythema and surgical incisions; and Infinitink(R), a permanent yet more easily removable tattoo ink.
Safe Harbor Statement
Statements contained in this presentation that are not strictly historical are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. The forward-looking statements are made based on information available as of the date hereof, and the Company assumes no obligation to update such forward-looking statements. Forward-looking statements are sometimes identified by words such as "intends", "anticipates", "believes", "expects", and "hopes" and involve a number of risks and uncertainties that could cause the Company's actual results to differ materially from projected results. All parties are cautioned that such forward-looking statements involve risks and uncertainties that could cause the Company's actual results to differ materially from those in these forward-looking statements. Such risks and uncertainties include but are not limited to demand for the Company's products and services, the planned share exchange with Freedom2 Holdings, Inc., our ability to secure additional financing, and other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission.
SOURCE: Nuvilex, Inc.
Investor Relations:
Marmel Communications, LLC
Marlin Molinaro, 702-434-8692
mmolinarofc@aol.com
AI
