EDMONTON, ALBERTA--(CCNMatthews - May 7, 2007) - CV Technologies Inc. (TSX:CVQ) is pleased to announce the appointment of Ross Montagano as Chief Operating Officer, effective May 28, 2007.
Mr. Montagano, a Carleton University graduate, is a proven senior executive with extensive sales and marketing experience who has built and managed high performance teams at companies such as Pitney Bowes and Aramark.
"We feel that Ross is uniquely positioned with the kind of business skills that are important to our Company at this point in its growth cycle," says Dr. Jacqueline Shan, President, CEO and Chief Scientific Officer of CV Technologies. "In the past he's achieved record sales and market share growth while tackling operational challenges as an action oriented team builder and leader. The entire management team is looking forward to working with him to capitalize on our technology applications and new product opportunities while continuing to build brand awareness for our lead products."
Mr. Montagano's appointment follows an announcement in February that the next stage of the Company's growth would see a strengthened and restructured senior management team.
"I am very excited to be joining CV Technologies," said Mr. Montagano. "To think that in just three years COLD-fX became the #1 selling cold and flu remedy in Canada. Such spectacular growth in such a short time brings a host of challenges. I am looking forward to leading the company's day-to-day operations with a focus on building shareholder value by continuing to grow a strong and sustainable company."
About CV Technologies Inc.
CV Technologies, founded in 1992, is a global leader in the development and commercialization of naturally derived, evidence based, natural therapeutics for disease prevention and health maintenance. The Company's lead product - COLD-fX - strengthens the immune system and is widely used in Canada as a leading over the counter (OTC) remedy for preventing and relieving cold and flu infections. A comprehensive treatment claim approved by Health Canada for COLD-fX states that it "helps reduce the frequency, severity and duration of cold and flu symptoms by boosting the immune system." Such therapeutic claims require support by randomized, double-blinded, placebo-controlled clinical trials which are the highest level of scientific evidence: COLD-fX, with its unique and patented mechanism of action was standardized according to the Company's ChemBioPrint (CBP) process. The CBP process precisely identifies the chemical profile and biological activity of multi-active compounds in evidence-based natural therapeutics, while providing a manufacturing protocol that ensures each batch of the final product delivers verifiable and provable health benefits. International manufacturing, marketing, patents and trademarks are held by fX Life Sciences International GmbH. COLD-fX is distributed and sold in the U.S. by COLD-fX Pharmaceuticals (USA) Inc. after receiving clearance from the FDA as a New Dietary Ingredient. Both companies are wholly-owned subsidiaries of CV Technologies Inc. fX Life Sciences International GmbH and COLD-fX Pharmaceuticals (USA) Inc. maintain a call center for product information: 1-877-490-3300.
This news release contains forward-looking statements that are subject to risks and uncertainties that may cause actual results or events to differ materially from the results or events predicted in this release, including those comments predicting the company's timely return to profitability and the impact and potential for new product opportunities. Although we believe that the forward-looking statements contained herein are reasonable, we can give no assurance that our expectations are correct and that the results, performance or achievements expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. For a more in-depth account of risks and uncertainties, please refer to documents filed with the Canadian securities regulatory authorities through the System for Electronic Document Analysis and Retrieval (SEDAR). Subject to its obligations under applicable law, the Company assumes no duty to update this disclosure. The Company is a 12g3-2(b) SEC registrant.