Results of the Annual and Special Meeting of Shareholders and Update on Operations and Previous Disclosure


Eviana Health Corporation

Companies Mentioned:

Primary Exchange: CNSX
Under the Symbol: EHC


Monday, December 24, 2018 7:30 PM

TORONTO, ON / ACCESSWIRE / December 24, 2018 / EVIANA HEALTH CORPORATION (CSE: EHC) (the “Company“) announces that on December 14, 2018 it held its previously announced annual and special meeting of its shareholders (the “Meeting“). At the Meeting, shareholders considered and those present in person and voting by proxy voted in favour of and passed the following:

1. Appointment of Auditors

BDO Canada LLP were appointed as the Company’s auditors.

2. Number of Directors

The number of the Company’s board of directors was set at four directors.

3. Election of Directors

The following individuals were elected to the Company’s board of directors:

i) Dr. Avram Adizes
ii) Sydney Au
iii) Prof. Dr. Ljiljana Vujotic
iv) Paolo De Luca

Detailed information regarding the Company’s newly elected board of directors can be found at the Company’s management information circular dated November 14, 2018 (the “Circular“) distributed to shareholders of record with respect to the Meeting and also posted on the Company’s profile at www.SEDAR.com. Biographies of the elected directors are included below.

4. Ratification of Past Acts

Past acts and proceedings of the directors and officers of the Company, as described in the Circular, for the year ending June 30, 2017 were approved, ratified, and confirmed.

Director Biographies

Dr. Avram Adizes – Dr. Adizes has over 35 years’ experience in the fields of research and development with international knowledge in creating and implementing top technology solutions. Dr. Adizes previously worked as a Professional Engineer in the 1980s, and was a pioneer in the development of computer science. Dr. Adizes has substantial experience in the computer and information technologies marketplace and has the ability to implement new technologies in a wide variety of settings. Dr. Adizes established growth leading projects in fields of public health systems, medical digital image technology for diagnostic purposes, directed development of security infrastructure according to international standards, allowing governments and businesses to communicate electronically with the general public and internally. Dr. Adizes holds a Ph.D. in Computer Science from the joint program at Stanford University and a P.Eng. in electrical engineering from the University of Belgrade.

Sydney Au – Mr. Au has experience as a director and officer of public companies in a wide range of industries since 2006. He has been involved in restructuring public companies and in various corporate transactions. Prior to that, he worked in the wealth management division of a major chartered bank in Canada where Mr. Au gained extensive experience managing portfolios for high net worth clients.

Prof. Dr. Ljiljana Vujotic – Prof. Dr. Vujotic has more than 30 years’ experience as a clinician and specialist in the field of neurosurgery, currently as head of the Pediatric Neurosurgery Department, Clinical Center of the Serbia Neurosurgery Division in Belgrade, Serbia, in addition to serving as President of the NT Committee of Quality Improvement of Health Care in Serbia since 2004. Prof. Vujotic is also deputy director of post-graduate studies and an experienced professor of Neurosurgery at the medical school at the University of Belgrade.

Paolo De Luca – Mr. De Luca is currently the Chief Financial Officer of Organigram Holdings Inc. and has more than 20 years of diversified financial business experience, holding senior financial, investor relations, and accounting leadership roles at companies including West Face Capital, one of Canada’s leading alternative asset management firms; Meridian LNG; Potash Ridge; C.A. Bancorp; and TD Securities. Mr. De Luca is a graduate of York University’s Schulich School of Business.

Update on Operations and Previous Disclosure

On November 1st, 2018, Eviana Health Corporation announced that the Company began a comprehensive review of production processes to ensure alignment to safety, quality, and profitability objectives. The Company has since concluded its review and is now developing a plan to improve its initial v 1.0 extraction facility, and is examining an expansion plan for a new v 2.0 extraction facility, to meet the increasing demand of the CBD market. The Company endeavours to provide further updates as they become available. In the interim, the Company has identified a need to update prior disclosures to the current state of operations.

On September 7, 2018, Eviana Health Corporation announced the Serbian operating company (since acquired by the Company) had begun commercial production of cannabidiol (“CBD“). Due to power and ventilation issues at the extraction facility, commercial production was not sustainable. In the interest of the safety of its employees and other stakeholders, the Company has shut down commercial production to make the necessary improvements to the existing extraction facility.

On November 1, 2018, Eviana Health Corporation announced it has acquired a 100% interest in Eviana Inc., a private Ontario corporation that owns 100% of Intiva Plus doo and Eviana doo, two Serbian companies that hold licenses authorizing the growing of industrial hemp and extraction of CBD in Serbia. The Company further announced at that time “two types of extraction processes, CO2 and ethanol, are both operational”.

As stated above, the Company is in the process of enhancing the v 1.0 extraction facility. The extraction license for producing CBD will only be effective and available to the Company after the enhancements on the current facility are complete and inspected by the local government ministry. The Company expects that the improvements to the existing facility will be completed and the facility operational within 3-6 months.

“We are fortunate to have the best talent available in the region, in addition to a strong strategic partner in Organigram, to help us improve the current extraction facility, while charting a course for expanded production” said Eviana Health Corporation President, Alexander Kotyck. “Acting with integrity, a firm commitment to quality, while ensuring an ability to execute our plans, is the only way forward for Eviana” he said.

Contact:

Alexander Kotyck, President
Eviana Health Corporation
Sheraton Centre
100 Richmond Street West, Unit 414
Toronto, Ontario, M5H 3K6
[email protected]

Neither the Canadian Securities Exchange (CSE or CNSX Markets Inc), nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts that address future operations, production, potential, activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in forward-looking statements. These include market prices, crop yields, exploitation and production successes, continued availability of capital and financing, and general economic, market or business conditions. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For more information on the Company, investors should review registered filings at www.sedar.com.

SOURCE: Eviana Health Corporation


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