Calgary, Alberta - TheNewswire - November 4, 2020. Medxtractor Corp. (CSE:MXT) (CNSX:MXT.CN) ("Medx" or the "Corporation")
announces that Neil A. Runions has resigned as a director of the Corporation and Gordon Neil Crawford has been appointed to the board of directors effective November 4, 2020. The current Board is now comprised of
James M. Durward, G. Steven Price, Dusan Kuzma and Gordon N. Crawford. The Board wishes to extend its gratitude to Mr. Runions for his many years of dedicated service and wish him well in retirement.
Mr. Crawford brings more than 30 years' engineering experience. His extensive knowledge and leadership skills in the management of major innovative projects will be instrumental in helping Medx develop and execute its' go-forward expansion plans. Prior to joining Medx, Mr. Crawford held management positions in several prestigious engineering firms in Calgary and Edmonton, and most recently, was a Co-Founding Partner and Vice President of an established mid-sized Edmonton EPC engineering firm. He is well-respected member of the Alberta engineering community.
In connection with the appointment of Mr. Crawford to the Board, Mr. Runions sold an aggregate of 1,100,000 common shares to Mr. Crawford's holding company, which consisted of the transfer within escrow of 825,000 common shares and 275,000 common shares not subject to escrow. The 825,000 common shares shall remain subject to the terms of the escrow agreement dated September 16, 2019, a copy of which is available for viewing on SEDAR (www.sedar.com). As a result of the transaction, Mr. Crawford will indirectly hold 1,100,000 common shares of the Corporation, representing 4.27% of the outstanding common shares.
ABOUT MEDXTRACTOR CORP:
The Corporation is a Calgary-based company that manufactures patented, proprietary craft-scale carbon dioxide-based and alcohol-based extractors that are used to extract essential oils and compounds from a variety of botanical materials. Growing demand is from the premium craft medical cannabis market as these growers respond to the shift toward
high-purity oils and concentrates as the base for a multitude of products such as vapes, dabs, edibles, tinctures, sprays, and suppositories. The ongoing worldwide cannabis legalization movement is expected to further increase demand for extracts and the Corporation has installations in multiple countries worldwide. The Corporation owns the US patent, and Canadian Patent on its CO2-based extraction process.
FOR FURTHER INFORMATION, PLEASE CONTACT:
James M. Durward, President and CEO
Telephone: (403) 689-3901
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2020 TheNewswire - All rights reserved.