MISSISSAUGA, ONTARIO--(Marketwire - Sept. 29, 2008) - Covalon Technologies Ltd. (the “Company” or “Covalon”) (TSX VENTURE:COV) is pleased to announce the appointment of Mr. Peter Hobbes, C.A., as Chief Financial Officer, effective October 2, 2008. Mr. Hobbes replaces Mr. Francis Lindayen, who has resigned. The Company wishes Mr. Lindayen well in his future endeavours.
Brad Williams, Chairman of the Board, commented: “Peter Hobbes is a results oriented executive with extensive experience in building growth companies to strong performance and profitability. I worked with Peter when I was the head of Stryker Corporation’s Canadian Division for six years, and he was instrumental in helping us build a world class team that led the field in the markets in which we competed. His experience in the medical device field and his proven track record of success positions him well to help Covalon as it enters its next phase of growth.”
Dr. Frank DiCosmo, President & CEO, commented: “It is a pleasure to welcome Mr. Hobbes to Covalon in his capacity as Chief Financial Officer. Peter has significant experience in the medical devices industry, having previously served as Director of Finance for Stryker Canada. Peter was responsible for finance, distribution and information technology functions during and after the acquisition and integration of companies by Stryker. Peter brings strong financial expertise and a successful track record of achievements to Covalon.”
About Covalon
Covalon Technologies Ltd. is a company with advanced medical products that has developed and patented advanced therapeutic biomaterials for wound care and surgical applications and coatings. Polymer chemistry and surface coating technology have been combined to create a range of time-release drug delivery platforms that are applied to many medical devices to treat many critical conditions. A variety of applications for these technologies have been identified and specific products have been developed. The products offer features and benefits providing solutions to many of the problems caused by current devices and their material properties which are used by most medical device manufacturers and suppliers. The problems include infection, poor biocompatibility, and microbial attachment.
This document contains forward-looking statements. These statements relate to future events or future performance. In some cases, forward-looking statements can be identified by terminology such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “continue” or the negative of any of these terms or comparable terminology. Such statements reflect the current views of management of the Company with respect to future events. Actual events or results may differ materially. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.
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CONTACT INFORMATION:
Covalon Technologies Ltd. Frank DiCosmo, Ph.D. President & CEO (905) 568-8400 Fax: (905) 568-5200 Website: www.covalon.com
