AREV Expands Operations to Rochester New York Establishing Wholly Owned U.S. Subsidiary, AREV Life Sciences, Inc.
VANCOUVER, British Columbia, July 06, 2021 (GLOBE NEWSWIRE) — AREV NANOTEC BRANDS INC. (CSE: AREV) (OTC: AREVF) (“AREV” or the “Company”) is pleased to announce the Company has established a wholly owned U.S. subsidiary with offices in Rochester, New York.
AREV’s formation of Rochester-based AREV Life Sciences Inc., a Delaware corporation (“AREV Life Sciences”), is a successful milestone in the growth strategy of AREV. The subsidiary’s placement in Rochester, New York has multiple advantages, including adjacency to the research facilities, programs, biotechnology enterprises, and human talent associated with the University of Rochester and New York State generally. Rochester is also a geographic location with ready access to multiple important U.S. and Canadian biotech, medical, and financial hubs including New York City, Boston, Philadelphia, Toronto, Ottawa, and Montreal.
Michael Withrow, CEO of AREV, stated, “Establishing a subsidiary in Rochester, New York is an important step for the Company to have access to the talent and programs available to companies in Rochester and more generally in New York State and the U.S. We continue to implement our strategy that includes strategic growth of our team in the United States.”
AREV is the sole shareholder of AREV Life Sciences, and its initial three directors are Kevin J. Phelps, also an AREV director, who will serve as president of AREV Life Sciences; Mr. Withrow, the founder, chairman, and CEO of AREV; and Chad S. Johnson, Esq., special counsel to AREV who will serve as an officer and general counsel of the U.S. subsidiary. In addition, Denby Greenslade, an AREV director and its corporate secretary, will serve as the corporate secretary of the new subsidiary.
Mr. Phelps stated, “Rochester has a legacy of developing successful growth stage enterprises. We are fortunate to have AREV select us as its US headquarters. The Company seeks to leverage its plant extraction technology, nutritional product programs, and drug development initiatives into a substantial company. We look forward to the opportunity to access the talent and resources of the University of Rochester, Rochester Institute of Technology, and the established New York State infrastructure. Rochester is an ideal location within which to grow the US operations.”
Mr. Phelps is a long-time resident of the Rochester area and a successful biotech and general business professional with over 30 years of experience in business assessment, business development, commercialization, operations, mergers/acquisitions, capital formation, franchising and licensing. Kevin has been a member of numerous executive teams as CEO, CFO and vice president for business development and successfully managed, financed, and exited several entrepreneurial life science businesses. Mr. Phelps began his career as a CPA with Price Waterhouse Coopers specializing in services to emerging growth companies. In 1987 he was recruited to the Eastman Kodak Company and as part of an executive team successfully executed the spinout of the Bio Products Division into Genencor International, Inc., an international industrial bio-chemicals company. Mr. Phelps served as Genencor’s CFO and vice president of business development. In those capacities he was directly responsible for executing the formation and growth strategy of the new venture. Since Genencor, Mr. Phelps has been active in the New York State private equity community and gone on to work closely with a number of other emerging life science and medical products companies, including Rochester-based life science company OyaGen, Inc. (“OyaGen”). Mr. Phelps currently serves as a director and officer of OyaGen. The CEO of OyaGen, Harold Smith, Ph.D., sits on the scientific advisory board of AREV.
Mr. Withrow is a successful natural products and technology entrepreneur with over 25 years of experience in public markets, and he is the founder of the Company and has been the Chairman of the Board of AREV since inception. He has an extensive business network throughout the Americas and Pacific Rim, and his experience in international trade and regulatory compliance have been essential to the companies that he has structured and led. With a background of starting many agricultural-type companies and helping them to grow, Mr. Withrow has worked with and led companies such as CAVA Health Care (formerly Alternative Extracts Inc.), North American BioExtracts Inc., and Canadian Pacific Phytoplankton Ltd. Mr. Withrow has expanded his company, CanViet Enterprises Inc., internationally. He has been instrumental in securing millions of dollars in public and private investments to fund the working capital requirements of his high-growth companies. In addition, Mr. Withrow has held senior advisory positions for a number of companies.
Mr. Johnson, a Harvard-trained corporate, legislative, and regulatory attorney based in metro Washington, D.C. for 25 years, is a business executive with significant experience in leading and advising health and biotechnology companies and pursuing entrepreneurial ventures in North America and Europe. Mr. Johnson began the legal segment of his career clerking for a federal judge, after which he joined top law firm Skadden, Arps, Slate, Meagher & Flom LLP in its Washington, DC office where he focused on financial institution regulatory law and substantial pro bono advocacy. As a biotech entrepreneur, Mr. Johnson has years of experience as a founder, director, officer, and/or counsel to both public and private life science corporations. He is a member of the IAS and the Infectious Disease Society of America, among other affiliations, and attends scientific conferences internationally. A member of the District of Columbia Bar and the Bar of the U.S. Supreme Court, Mr. Johnson is active in the Harvard College and Harvard Law School alumni associations.
Ms. Greenslade has worked as a corporate secretary and director for several companies in the mining, biotech, and IT industries, and she is constantly updating her business training. Ms. Greenslade is responsible for the creation and regulation of AREV’s corporate governance structures, policies and mechanisms, corporate communication, and regulatory compliance in both Canada and the United States; Board and shareholder meetings and communication; office and personnel management; creation and administration of company policies and procedures; and implementation of corporate-wide management and document retention systems. Ms. Greenslade has over 15 years of corporate governance and securities regulation experience with a focus on the nutraceutical and mining sector in North America. She has served in several senior management and executive roles for companies listed on the Toronto Stock Exchange, TSX Venture Exchange, and Canadian Stock Exchange.
For further information, contact Mike Withrow, mike@AREVBrands.com 778-929-6536. For more information visit arevlifesciences.com
On behalf of the Board,
CEO & Director