Radient Technologies Inc. Announces Executive Appointments, Options Grant, and Shares for Services Agreement
EDMONTON, ALBERTA–(Marketwired – Dec. 6, 2017) - Radient Technologies Inc. (“Radient” or the “Corporation”) (TSX VENTURE:RTI) is pleased to announce the senior appointments (the “Appointments”) of Jim Seethram and Dr. Tomasz Popek to key roles in its growth plans.
Jim joins Radient as Vice President, Enterprise Systems to lead the development of the Corporation’s processes and technology infrastructure. Jim brings 25 years of experience in software development, data analytics, corporate development, and customer engagement. In 2000 he founded Orissa Software Inc., growing it to North America’s market share leader in workforce accommodation management software before selling the business in 2014. Prior to Orissa, Jim founded a software firm that developed applications in quality assurance, production and operations, and inventory management, among others, for blue chip companies across Canada.
Having joined Radient in 2012 as a research chemist, Tomasz now leads the Company’s process and product development efforts along with its associated research as Vice President, Process and Product Development. Tomasz’s 17 years of industry experience spans pharmaceuticals, medical devices, natural products, and public sector R&D. Prior to his position at Radient he held a senior scientific position in Supratek Pharma Inc, as well as specialized roles at Viscoplast S.A. (currently Viscoplast 3M SA) and the Canadian National Research Council. Tomasz graduated from the University of Wroclaw, with a PhD in Organic Chemistry.
“We are delighted to have attracted a strong external candidate in Jim, and to have increased our bench strength from within with Tomasz. We expect their unique contributions will be invaluable at this stage of our growth,” said Denis Taschuk, CEO of Radient.
The Company also announced the grant of 5,178,000 incentive stock options to employees, directors and consultants pursuant to the Company’s Stock Option Plan. The options are exercisable for a period 5 years at a price of $1.82 per share.
Shares for Services Agreement
As part of the Appointments, the Company approved a share for services agreement with an arm’s length third party in exchange for consulting services. Pursuant to the agreement, the Company may issue up to a maximum of $96,000 of common shares in any fiscal year in consideration for such services.
The number of shares to be issued for each quarter will be determined at the end of each quarter, after the services have been provided to the Company. The issue price of the shares will be the closing trading price of the Company’s shares on the last trading day of such quarter. The Company will issue a press release after each issuance of shares under the terms of the Agreement.
The shares for services agreement is subject to approval by the TSX Venture Exchange and will be subject to TSX Venture Exchange approval for each renewal term.
Radient extracts natural compounds from a range of biological materials using microwave assisted processing (“MAP™”), a patented technology platform which provides superior customer outcomes in terms of ingredient purity, yield, and cost. From its 20,000 square foot manufacturing plant in Edmonton, Alberta, Radient serves market leaders in industries that include pharmaceutical, food, beverage, natural health and personal care markets. Visit www.radientinc.com for more information.
SOURCE: Radient Technologies Inc.
Chief Executive Officer
Radient Technologies Inc.
Chief Operating Officer