Royal Lifescience Corp. Announces Management Reorganization and Change of Directors
1780 – 400 Burrard Street Vancouver, British Columbia V6B 3K1
NEWS RELEASE
Royal Lifescience Corp. Announces Management Reorganization and Change of Directors
June 9, 2016 TSX Venture Exchange Trading Symbol: RLS.H
Vancouver, BC – Royal Lifescience Corp. (NEX: “RLS.H”) (the "Company") announces the resignation of Mr. Craig D. Thomas as Chief Executive Officer, Chief Financial Officer, Corporate Secretary and director of the Company. The Company would like to thank Mr. Thomas for his past service to the Company.
The Company also announces appointment of Mr. Minaz Dhanani, a director of the Company, as Chief Executive Officer, Chief Financial Officer and Corporate Secretary of the Company.
The Company is pleased to announce that, subject to regulatory approval, Mr. Omar Mawji has been appointed as a director of the Company, effective immediately.
Mr. Omar Mawji, was previously an investment analyst at Katusa Research in Vancouver. He also served as the lead oil & gas analyst for institutional investors at the boutique research firm, Langenberg & Co., based in Chicago. Mr. Mawji specializes in oil & gas and geopolitics with a focus in North Africa & the Middle East and obtained his BA in Economics from the University of British Columbia.
In connection with the appointment of Messrs. Mawji and Dhanani, the Company and Mr. Thomas have agreed to transfer 250,000 common shares of the Company (the “Seed Shares”) which are currently held in escrow pursuant to the TSX Venture Exchange requirements to Mr. Mawji and 250,000 of the Seed Shares to Mr. Dhanani (the “Escrow Transfer”). The Escrow Transfer is subject to the approval of the TSX Venture Exchange.
About the Company
The Company is designated as a Capital Pool Company by the Exchange. The Company has not commenced commercial operations and has no assets other than cash. The only business of the Company is the identification and evaluation of assets or businesses with a view to completing a "Qualifying Transaction" in accordance with Exchange Policy 2.4 - Capital Pool Companies.
On behalf of the Board of Directors
“Minaz Dhanani”
Minaz Dhanani Chief Executive Officer, Chief Financial Officer, Corporate Secretary and Director
For further information please contact:
Minaz Dhanani Telephone: (604) 783-7361
Neither the TSX Venture Exchange not 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.