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BRIEF-Hemostemix Says Kyle Makofka Has Resigned As CEO

Published 2019-11-19, 08:55 a/m
BRIEF-Hemostemix Says Kyle Makofka Has Resigned As CEO
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Nov 19 (Reuters) - Hemostemix Inc HEM.V :

* HEMOSTEMIX PROVIDES CORPORATE UPDATE

* HEMOSTEMIX INC - KYLE MAKOFKA HAS RESIGNED AS CO'S CEO

* HEMOSTEMIX INC - COMMENCED SEARCH FOR A SUITABLE REPLACEMENT AND WILL ANNOUNCE ANY APPOINTMENT IN DUE COURSE

* HEMOSTEMIX INC - ENTERED INTO AN AMENDED LICENSE AGREEMENT DATED SEPT 30, 2019 WITH ASPIRE HEALTH SCIENCE, LLC

* HEMOSTEMIX - AMENDED LICENSE TO AMEND ORIGINAL LICENSE GRANTING ASPIRE EXCLUSIVE RIGHTS TO USE, SELL, IMPORT ACP-01 IN SOME JURISDICTIONS

* HEMOSTEMIX- UNDER TERMS, CO IS ENTITLED TO RECEIVE AN UP-FRONT PAYMENT OF $1 MILLION FROM ASPIRE WITHIN 30 DAYS OF DATE FIRST WRITTEN IN AMENDED LICENSE

* HEMOSTEMIX- CO,ASPIRE MAY TERMINATE AMENDED LICENSE IF THERE IS BREACH OF MATERIAL CONDITION/ BANKRUPTCY/INSOLVENCY OF CO, ASPIRE TO AMENDED LICENSE

* HEMOSTEMIX INC - WILL CONTINUE TO SEEK OTHER MEANS TO REDUCE COSTS AND WILL CONTINUE TO LOOK AT AVAILABLE FINANCING AND RESTRUCTURING ALTERNATIVES

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