ORLANDO, Fla., June 18, 2014 /PRNewswire/ -- TNI BioTech, Inc. (OTC: TNIB) ("TNI" or the "Company") announced today that it will hold its 2014 Annual Meeting ("Annual Meeting") of Stockholders on August 25, 2014. The Company has fixed the close of business on July 11, 2014 as the record date for determining shareholders entitled to notice of, and to vote at, the Annual Meeting. At the Annual Meeting, stockholders will be asked to elect eight directors to serve until the 2015 annual meeting of stockholders and until their successors have been elected and qualified.
The Company also announced that a special committee of its Board of Directors has approved the Company's slate of nominees for election as directors at the 2014 Annual Meeting. The Company's slate includes incumbent directors Noreen Griffin, CEO, Christopher Pearce, COO, Eugene Youkilis, President, and the following new nominees for election to the board: Roger Bozarth, Joel Yanowitz, Jay Goldstein and Edward Teraskiewicz.
Roger Bozarth is the President of The Insurance Advantage, Inc. and Planning for Wealth Preservation, LLC, located in Orlando, Florida, which he founded in 1995. His firm specializes in estate, business, and charitable planning for affluent clients throughout the United States. In addition to his business experience, Mr. Bozarth is involved in a number of charitable organizations, including the U.S. Dream Academy in Baltimore, MD, and Desire Street Ministries in Atlanta, GA. Mr. Bozarth also serves on the boards of Edgewood Children's Ranch and Love Orlando in Orlando, FL. Mr. Bozarth attended the University of South Florida where he pursued an Electrical Engineering degree.
Joel Yanowitz is the Founder of the The Cascade Group, Inc., where he has served as President since 2001. With over 35 years of experience as an entrepreneur, business advisor, and consultant, his current focus is on helping clients leverage the human side of their organizations to accelerate growth and innovation. His clients have included numerous Fortune 500 and well known entrepreneurial and growth companies such as Procter & Gamble Company, Clorox Company, The Coca-Cola Company, Electronic Arts Inc., Nissan Motor Co. Ltd, EMC Corp., and Travelocity.com. He has founded and built three successful consulting and training companies and has also helped create and grow several non-profit organizations. From 1995-2000, Mr. Yanowitz was a Vice President of Arthur D. Little, a global management consulting and technology development company, where he led the organization practice area. Prior to that, he co-founded Innovation Associates, Inc., a consulting and executive development firm that pioneered the field of organizational learning and served as its Managing Director. Earlier in his career, Mr. Yanowitz founded R.E.C., Inc., an international training company. Mr. Yanowitz has served on a number of corporate and non-profit boards. He currently serves on the boards of directors of the African Food and Peace Foundation, CorStone, and Upstart Bay Area.
Jay Goldstein is a Managing Director at Gartland and Mellina Group. Prior to that, Mr. Goldstein was a founding partner at Avalon Lake Partners, a spin-out from WTP Advisors, from 2008 to 2013. Mr. Goldstein has over 30 years of financial services experience. He was a member of Sala Associates from its inception, and previously owned and operated a consulting firm focused on financing and turning around distressed companies. Mr. Goldstein has acted as the Chief Administrative Officer/Chief Operating Officer for a trade execution platform and as the Chief Financial Officer for the technology group of a renowned global macro hedge fund. Additionally, he has held various senior level positions at Salomon Brothers, including as Deputy Head of Asia Pacific Equities and as Deputy Head of Global Equity Derivatives. Mr. Goldstein earned his B.S. from the School of Professional Accounting at CW Post College, part of Long Island University.
Edward Teraskiewicz has over 35 years of financial services experience. From 1992 to 2004, Mr. Teraskiewicz was 50% owner Co-Founder, Chief Executive Officer and Director of Prebon Yamane International Limited, one of the world's pre-eminent money brokerage firms, with over 1700 employees in 17 cities around the world with revenue over $500,000,000 annually. Mr. Teraskiewicz, having retired from daily operations at the end of 1994, continued his involvement with Prebon Yamane as a member of the Board of Directors of Fulton Prebon Group U.K., the holding company which held the money brokerage business, until October 2004, at which time he resigned from the Board and became Senior General Partner upon a merger with Collins, Steward, Tullett. Since 2004, Mr. Teraskiewicz has been overseeing and managing various residential real estate development projects and has been an investor in numerous other companies in the music and financial industry. Mr. Teraskiewicz is a graduate of the American Institute of Banking.
Regarding the nomination of these new board nominees, Noreen Griffin, Chief Executive Officer of the Company, stated: "We are very excited by the addition of these highly qualified candidates to our board slate. We expect they will bring to the Board a wealth of experience that will be tremendously valuable as we continue our efforts towards profitability and create value for our stockholders."
The Company also confirmed that a stockholder group has provided timely notice that it intends to nominate candidates to stand for election as directors at the 2014 Annual Meeting. Commenting on this notification, Ms. Griffin stated, "We firmly believe that election of the slate of nominees chosen by the board's special committee is in our stockholders' best interests. Many of the concerns expressed by this stockholder group have been shared with us by other stockholders and we have made important efforts to address and resolve them, including by broadening the talent pool on our Board of Directors with the slate announced today and by the Board approval to begin a search for a new President with industry experience. We believe the Company is on the right track."
Following the business portion of the Annual Meeting, Company Management will discuss recent progress including the proposed spin-off of Cytocom, Inc. and TNI business development.
TNIB will file a proxy statement in connection with its 2014 Annual Meeting of Stockholders and advises stockholders to read that proxy statement when it becomes available because it will contain important information. Stockholders will be able to obtain a free copy of that proxy statement and other documents (when available) that TNIB files with the Securities and Exchange Commission at the Commission's website at http://www.sec.gov and at TNIB's website at http://tnibiotech.com. In addition, copies of the proxy materials may be requested by contacting our proxy solicitor, Guardian Registrar & Transfer Inc., at 1-954-915-0105 or by email at firstname.lastname@example.org.
TNIB, its directors, director nominees and executive officers may be deemed to be participants in TNIB's solicitation of its security holders in connection with its 2014 Annual Meeting of Stockholders. The names and direct or indirect interests of the current TNIB directors and executive officers may be found in its Annual Report on Form 10-K/A filed with the SEC on June 17, 2014. To the extent holdings of TNIB's securities have changed since the amounts disclosed in such Form 10-K/A, such changes have been or will be reflected on Forms 3, 4 and 5 filed with the SEC and will be reflected in the 2014 Proxy Statement. Additional information regarding TNIB's directors, director nominees and certain of its officers will be included in the 2014 Proxy Statement.
About TNI BioTech, Inc.
TNI BioTech, Inc. is a biotech company working to combat chronic, life-threatening diseases through the activation and modulation of the body's immune system using our patented immunotherapy. Our products and immunotherapy technologies are designed to harness the power of the immune system to improve the treatment of cancer, infections such as HIV/AIDS, chronic inflammatory diseases, and autoimmune diseases.
Our proprietary technology, therapies and patents include the treatment of a wide range of cancers. Our most advanced clinical programs involve immunotherapy with met-enkephalin ("MENK") (sometimes referred to as opioid growth factor ("OGF")) and our Low Dose Naltrexone product ("LDN"), which have been shown to stimulate the immune system even in patients with advanced cancer. Even though management considers any condition that results in altered-immune response a target for investigation, the Company will most likely pursue additional investigations for MENK and LDN as valuable candidates in the treatment of the following: autoimmune states such as rheumatoid arthritis and multiple sclerosis; as an adjunct in cancer patients undergoing chemotherapy, radiation treatments or surgery; and as an adjunct to antibiotics in the treatment of a variety of infectious diseases, including patients with AIDS, in combination with retroviral drug therapy.
About Cytocom, Inc.
Cytocom, Inc. is a biotechnology company that will initially focus on developing Low Dose Naltrexone and met-enkephalin in the investigation of unmet medical needs in the areas of oncological and inflammatory diseases.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This press release and the statements of representatives and partners of TNI BioTech, Inc. and its subsidiaries (the "Company") related thereto include various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. Statements containing expressions such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" used in the Company's press releases and in the Company's filings with the Securities and Exchange Commission as well as Disclosure Statements and Reports filed with the Over The Counter Markets through the OTC Disclosure and News Service are intended to identify forward-looking statements. All forward-looking statements involve assumptions and significant risks and uncertainties. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release, and thus readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. Actual results may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly release any revisions to such forward-looking statements to reflect events or circumstances after the date hereof.
For further information, please see http://www.tnibiotech.com
Contact: Dennis S. Dobson, 203-258-0159
SOURCE TNI BioTech, Inc.