Aleafia Health to Appoint Two New Independent DirectorsAleafia Health to Appoint Two New Independent Directors
TORONTO, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Aleafia Health Inc. (TSX: AH, OTC: ALEAF) ("Aleafia Health" or the "Company") is pleased to announce that the board of directors (the "Board") has appointed Lu Galasso and Carlo Sistilli as independent directors to the Board. Mr. Galasso will be appointed to the Strategic Planning Committee and Mr. Sistilli will be appointed to the Audit Committee.
"I would like to welcome Lu and Carlo to our Board," said Acting Chair Lea Ray. "Their collective professional experience will bring unique skills to the Board that will serve Aleafia Health well in its continued growth."
Lu Galasso
Lu Galasso is a Chartered Professional Accountant, CA, CPA and holds the Institute of Corporate Directors ICD.D designation.
Lu is a Partner with the Zzen Group of Companies, a company in the real estate and manufacturing sectors, where he is the CFO and head of strategic developments for the manufacturing operations.
Lu is Chair of the Board of Directors for Titanium Transportation Group, a trucking and logistics business listed on the TSX. He is also the President of the Board of Directors of the Meta Foundation, a member of the Board for the St. Christopher Children's Home, and a member of the Dean's Advisory Board for the Faculty of Management at Laurentian University.
Carlo Sistilli
Carlo Sistilli is a Chartered Professional Accountant and a Certified Management Accountant, CPA, CMA. As Chief Financial Officer and member of the Senior Management team of Arista Homes, Carlo plays a key role in overall operations including evaluation of mergers and acquisitions.
Prior to Arista, Carlo co-founded and served as CFO, member of the M&A team and member of the Board of Directors of an Internet start-up company, playing a key role in taking the company public on the Alberta Ventures Exchange.
Carlo is a member of the Board of Directors and Chair of the Audit Committee of Edesa Biotech, Inc., a company listed on NASDAQ. Mr. Sistilli is an officer and a member of the Board of Directors of Mother of Mercy Centre, a charity operating in Ontario.
In connection with the director appointments, the Company entered into a director nomination agreement with a group of shareholders of the Company representing approximately 15.65% of the issued and outstanding common shares of the Company pursuant to which, among other things, such shareholders have agreed to a customary standstill provision in favour of the Company until December 31, 2021 (provided that it may be terminated after the 2021 annual meeting of the shareholders of the Company (the "2021 Annual Meeting") in certain circumstances) and to vote all of their common shares in favour of the director nominees recommended by the Company for election at the 2021 Annual Meeting, which the Company has agreed to hold no later than June 30, 2021. The Company has also agreed to nominate seven directors for election at the 2021 Annual Meeting consisting of four current directors, Messrs. Galasso and Sistilli and one independent director to be selected following a search process and approval by the Board, having regard to the Company's corporate governance and director nomination policies and the skills matrix of the Board.