Tuesday, January 3, 2017
Hemostemix announces the execution of a management contractor agreement with Drive Capital. Drive will oversee and manage all aspects of a corporate reorganization of Hemostemix, including the appointment of a new Board of Directors and management team. Drive shall report directly to the new Board and will assist with the implementation of all corporate actions deemed necessary to ensure the financial sustainability of Hemostemix. The agreement has a term of two years and Drive will be compensated based on 15% of the total operating expenses over the term of the agreement and options to acquire common shares in the capital of the issuer to be granted from time to time in an amount equivalent to 7% of the client’s total issued and outstanding Shares.