Hemostemix Announces Director Resignation

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CALGARY, Alberta, Nov. 22, 2019 (GLOBE NEWSWIRE) -- Hemostemix Inc. (“” or the “”) (TSX VENTURE: HEM; OTCQB: HMTXF), a biotechnology company focused on developing and commercializing innovative blood-derived stem cell therapies for medical conditions not adequately addressed by current treatments, announces the resignation of Mr. Don Friesen from the Company’s board of directors (“the “Board”) effective November 21, 2019. The Company would like to thank Mr. Friesen for his contributions and wishes him well in his future endeavors.

Pursuant to TSX Venture Exchange (“TSXV”) policies and the Company’s articles of incorporation and by-laws, the Company is required to have a minimum of three directors. As a result of the resignation of Mr. Friesen, the Company has two remaining directors, Mr. Angus Jenkins and Mr. David Wood, and is in breach of TSXV policies.  The Company will provide a further update once the Board has been reconstituted.

Hemostemix is a publicly traded clinical-stage biotechnology company that develops and commercializes innovative blood-derived cell therapies for medical conditions not adequately addressed by current treatments.  It is one of the first clinical-stage biotech companies to test a stem-cell therapy in an international, multicenter, Phase II clinical trial for patients with critical limb ischemia (“CLI”), a severe form of peripheral artery disease (“PAD”) caused by reduced blood flow to the legs. The Phase II trial targets a participant’s diseased tissue with proprietary cells grown from his or her blood that can support the formation of new blood vessels. The Company’s intellectual property portfolio includes over 50 patents issued or pending throughout the world.  The Company is continuing research and development of its lead product, ACP-01 with other applications, including cardiovascular, neurological and vascular indications.

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Angus Jenkins, Chairman of the Board Suite 1150, 707 – 7 Avenue S.W. Calgary, Alberta T2P 3H6(403) 988-8794

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Globe Newswire: 21:30 GMT Friday 22nd November 2019

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