Hemostemix Announces Appointment of Director

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CALGARY, Alberta, Nov. 29, 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 appointment of 

Mr. Thomas Smeenk, BA, to the Company’s board of directors (“the “”) effective November 26, 2019, subject to customary TSX Venture Exchange (“”) approval.

Mr. Smeenk was President and CEO of Broadway Gold Mining Ltd., a TSV Venture issuer from May 2018 to April, 2019 where he closed a $30 Million earn-in agreement with Rio Tinto, was Director, Business Development, Bullion Management Group Inc. from January 2016 to November 2017 and Vice President, Business Development Memex Inc., a TSX Venture issuer from June 2012 to December 2014, which he took public.  Prior thereto, Mr. Smeenk served in various roles including Founder, Director, President and Vice-President, Business Development for TheraVitae Inc., which was taken over by Hemostemix as its Qualifying Transaction.

Pursuant to TSXV policies and the Company’s articles of incorporation and by-laws, the Company is required to have a minimum of three directors and as a result, trading in the shares of the Company was halted by the TSXV on November 22, 2019 for failing to maintain TSXV’s listing requirements having less than three directors. Mr. Smeenk will fill the vacancy created resulting from the resignation of Mr. Friesen on November 21, 2019.  The Company will provide a further update on the resumption of trading.

Hemostemix is a publicly traded clinical-stage biotechnology company that has developed and is commercializing innovative blood- derived autologous 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 (“”), a severe form of peripheral artery disease (“”) 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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Globe Newswire: 19:04 GMT Friday 29th November 2019

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