Michelex Corp (fka MLXO)

[sawdin]

Michelex Files 8-K with the SEC Noting Removal of Directors and Officers and Announces Their Replacements

MASSENA, N.Y./EWORLDWIRE/Feb. 14, 2012 --- On February 9, 2012, Michelex Corporation (Pink Sheets: MLXO) filed a Form 8-K with the Securities and Exchange Commission noting the removal of certain Directors and Officers. In addition, two new Directors were named. Below is a synopsis of the 8-K filing.

On February 4 2012, pursuant to a written consent in lieu of a special meeting of the shareholders of Michelex Corporation (the "Company"), which consent was received by the Company on January 19, 2012, Sabir Saleem, Midhat Syed and Albert Lacle were removed as directors of the Company.

Also on February 4, 2012, by action of the remaining member of the Board of Directors of the Company, Dino A. Sawyer and Frank T. LaSusa were appointed as Directors of the Company and will serve on the board with Venkat Kakani until the next annual meeting of shareholders. Messrs. Sawyer, LaSusa and Kakani will serve without compensation until such time as the Board deems appropriate and a compensation committee is formed.
In addition, by unanimous consent of the new Board of Directors, Sabir Saleem (Chairman and CEO), Midhat Syed (Secretary) and Albert Lacle (President) were removed as officers of the Company, effective February 4, 2012. The Company's new officers are Frank T. LaSusa as President and CEO, Venkat Kakani as Treasurer and Dino A. Sawyer as Secretary.

Mr. Sawyer, age 52, is retired. He is a shareholder in the Company, an experienced investor in "micro-cap" companies and an advocate for corporate transparency. Previously, he was the Director of Human Resources and Administrator of Sales & Marketing for the Dartmouth Printing Company, where he managed the training of over 250 employees in Statistical Process Control techniques and assisted in implementing a "Consultative Sales" approach that was employed by the national sales force. Mr. Sawyer holds a B.S. in Economics from the University of New Mexico.

Frank T. LaSusa, R.Ph., age 58, has been the President of J.C. Marketing, a pharmaceutical consulting company since 2009. From 2007 until 2009, Mr. LaSusa was the Vice President of Trade and National Accounts for Auriga Pharmaceuticals. Mr. LaSusa has 30 years experience as an executive in the Pharmaceutical Industry. Mr. LaSusa holds a B.S. in Biology from Marquette University and a Pharmacy degree from the University of Wisconsin.

The new officers and Directors are initiating appropriate actions to bring transparency to the Company's affairs and create a dynamic company that creates shareholder value.

As of February 4, 2012, the address of the Company's principal executive offices has been moved. The new address is:

Michelex Corporation
5 County Route 42
Massena, NY 13662

For further information, or if you would like to receive notification via email of news releases, Corporate filings, updates to the Company website, etc., please contact:

Dino A. Sawyer
Investor Relations, Michelex Corporation
EMAIL: [e-mail]
http://www.michelex.com

Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation reform Act of 1995. These statements and the matters discussed in this news release are forward-looking statements that involve a number of important risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements, including, but not limited to, the extremely limited operating history, the performance of the subsidiaries, as well as other economic, competitive and technological factors involving the subsidiaries' operations, markets, services, products and prices., uncertainties related to the company's access to additional capital, the ability of the subsidiaries to enter into contracts with new customers, and dependency on key management.

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CONTACT:
Dino A. Sawyer
PHONE. [phone]
EMAIL: [e-mail]
http://www.michelex.com

SOURCE: Michelex