Ovation Science Inc. Announces Changes
Vancouver, BC, Las Vegas, NV – October 30, 2023 (CSE: OVAT and OTC: OVATF) – Ovation Science Inc. (“Ovation” or the “Company”) makes the following announcements:
Director and Officer Changes, Audit Committee
The Company is pleased to announce the appointment of Shane Dungey and Ronald Stern to the Board of Directors.
Mr. Shane Dungey is a seasoned finance executive with experience in the Capital Markets for the last 20+ years. His background includes institutional asset management with AEGON Capital, institutional sales and trading with boutiques and international investment banks. He has extensive knowledge in asset management, equity financings, private placements, and institutional equity research. He has held the position of Managing Director at Altacorp Capital in Calgary along with time at Macquarie and Tristone Capital. Recently he has held the position of VP Investor Relations and Capital Markets for a senior Cannabis LP, and most recently he has been the Chief Operating Officer for a disruptor in the smart textile space. Mr. Dungey is also Partner & Co-Founder of 4Front Advisory, a Capital Markets Advisory firm providing support to early and mid-stage public and private companies.
Mr. Ron Stern, a successful business executive and visionary entrepreneur, is currently Vice-President, Sales and Marketing at Burner Energy with over two decades of Sales and Management experience in the Finance, Oil and Gas, and Hospitality sectors in Canada, USA and internationally. Mr. Stern is a respected former NHL ‘heart-and-soul’ player with a 12-season career with Vancouver, Calgary and San Jose. Over the years, he has built a solid reputation and strong track record as an active leader and change-agent.
Effective October 30, 2023, Logan Anderson has resigned as Chief Financial Officer and a Director of the Company and David Ryan has resigned as Investor Relations Officer and Director of the Company. The Company acknowledges Mr. Anderson and Mr. Ryan’s foundational leadership in the Company and thanks them
or their contributions.
Doreen McMorran, a member of the Board of Directors, has been appointed as Chief Financial Officer. Concurrent with these changes, the Company has appointed a new audit committee consisting of Doreen McMorran, Ian Howard and Joan Chypyha.
Stock Option Grants
The Company is pleased to announce that on October 30, 2023, the Company granted 2,600,000 stock options to directors and consultants of the Company. The stock options are exercisable at $0.05 per share for a period of two years from the date of grant.
Settlement of Debts
The Company has agreed to issue an aggregate 519,845 shares at a price of $0.05 per share to settle outstanding indebtedness. Of these 519,845 shares, 390,000 are to be issued to former directors and officers.
About Ovation Science Inc.
Ovation Science is a research and development company that develops topical and transdermal CBD/THC and other cannabinoid products which are out-licensed and also distributed under Ovation’s own brands; Arlo CBD Beauty and InVibe MD — all powered by its patented Invisicare® skin delivery technology. Invisicare enhances the delivery of ingredients to and through the skin and is protected by patents and proprietary formulations which cannot be duplicated. With over 20 years of pharmaceutical drug delivery experience, Ovation’s management and science team have created a unique pipeline of over 30 proprietary medical/wellness topical and transdermal products along with a line of anti-aging/beauty formulas. Ovation earns revenues from royalties on licensees’ sales and the sale of Invisicare, along with revenue from its own product sales. Ovation has offices in Vancouver, Canada, and Las Vegas, United States.
Neither the Canadian Securities Exchange, OTC Markets nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FOR CORPORATE INQUIRIES:
Doreen McMorran
info@ovationscience.com
Phone: 604.982.5700