CALGARY, AB, Nov. 16, 2021 /CNW/ - Health Logic Interactive Inc. ("Health Logic" or the "Company") (TSXV: CHIP.H) (OTCPK: CHYPF) is pleased to announce the hiring of Mr. Harrison Ross as interim Chief Executive Officer for Health Logic and the resignation of Mr. David Barthel. In his role Mr. Ross will look to finalize the sale of the Company's wholly owned subsidiary, My Health Logic Inc. ("My Health Logic"), to Marizyme Inc. ("Marizyme") and begin the new strategic direction of the Company.
Mr. Ross, a charted financial accountant (CFA), was previously the Company's CFO and is well versed in the Company history and will be in charge of leading the future direction of the Company. As the previous CFO of Health Logic, he was essential to the initial building of the business, helping restructure the previous shell, financing the Company, and streamlining of the business' operations to help develop MATLOC 1 and the accompanying lab-on-chip technology. The sale of My Health Logic to Marizyme is expected to be complete this December 2021.
While the expected sale of My Health Logic closes, the Company will be actively looking for other acquisition and financing opportunities to prepare for a successful reactivation to the Tier ll of the TSX Venture Exchange (the "TSXV") based on continued listing requirements.
In addition to Mr. Ross' move from CFO to CEO, all directors of Health Logic will remain directors of the Company, George Kovalyov will move from COO to CFO of the Company, and David Barthel will resign as CEO of the Company and transition to Marizyme as their new CEO. Health Logic thanks Mr. Barthel for his excellent efforts in leading the Company and believe it is in the best interests of the Company's shareholders that David become CEO of Marizyme to advance both MATLOC and Marizyme's other exciting technologies including their flagship DuraGraft product.
Mr. Ross' accomplishments include being CFO at DC Acquisition Corp., a Capital Pool Company listed on the TSXV that raised $2.5 million on its initial public offering before successfully completing its qualifying transaction of Kiaro Holdings Corp. (TSXV: KO). Mr. Ross has helped manage over $500 million in assets at Duncan Ross and Associates and was an analyst at the Family Office Belkorp Industries. Now, Mr. Ross is bringing his expertise to Health Logic as the interim CEO.
Mr. Ross is also a director of Codebase Ventures Inc. (CSE: CODE), an investment issuer focused on early stage investments in sectors with significant upside.
About the Company
Health Logic Interactive, through its wholly owned operating subsidiary My Health Logic, has pursued the development and commercialization of consumer focused handheld point-of-care diagnostic devices that connect to patient's smartphones and digital continued care platforms. For more information visit us at: www.healthlogicinteractive.com.
Further information regarding Health Logic Interactive Inc. and its disclosure documents are available on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Notes
Certain statements contained in this press release constitute "forward-looking statements". All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding: the sale of the Company's wholly-owned subsidiary My Health Logic; the Company's ability to identify and acquire new business opportunities; the Company's expectations that it will be able to complete a financing necessary to acquire a new business opportunity; the Company's expectation that it will successfully reactivate onto Tier II of the TSXV; Marizyme's ability to progress its technologies; and the Company's strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "plan", "continue", "will", "may", "would", "anticipate", "estimate", "forecast", "predict", "project", "seek", "should" or similar expressions or the negative thereof, are forward-looking statements.
These statements are not historical facts but instead represent only the Company's expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to the risk factors discussed in the Company's Management's Discussion and Analysis for the year ended December 31, 2020. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law.
SOURCE Health Logic Interactive Inc.
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