StemCell Therapy

SAN ANTONIO, TEXAS--(Marketwired - June 15, 2017) - Nerium Biotechnology, Inc. ("Nerium" or the "Company") today announces that it is mailing a letter to shareholders in advance of the Company's annual meeting on June 29, 2017. The shareholder letter which is reproduced below, provides important information for shareholder consideration regarding the election of directors at the annual meeting. This is an important meeting for shareholders as the decisions made with respect to the election of the Company's board of directors will determine Nerium's future.

Nerium is pleased to confirm the support of its largest shareholders for the re-election of the current board of directors (the "Board"). The shareholder letter, as well as a letter received by Nerium from Crandell Addington, a large shareholder of Nerium and CEO, Chairman and Director of Phoenix Biotechnology, will be mailed to shareholders today. A copy of the shareholder letter and other materials is available on the Company's issuer profile on SEDAR and on the Company's website http://www.nbiinvestors.com.

Your Board needs your support, please vote using only the GREEN proxy FOR Dennis R. Knocke, Gustavo A. Ulloa, Jr., Richard J.G. Boxer, Michael Burke, Kerry Mitchell and Peter A. Leininger, M.D.

Shareholders are encouraged to vote via the internet at http://www.voteproxyonline.com and enter the 12 digit control number located on your GREEN proxy, to ensure your vote is received in advance of the proxy deadline of June 27, 2017 10:00 a.m. (Toronto time). Shareholders may also vote by sending their signed GREEN proxy to TSX Trust Company via fax: 416-595-9593 or email: tmxeproxysupport@tmx.com or by mail in the envelope provided.

The Company also announces that it has commenced selling its over-the-counter product, NeriumAD Advanced, in Mexico. This represents the effective development of a new distribution channel for the Company's products and a source of future revenue that does not depend upon the cooperation of the Company's distributor, Nerium International LLC (the "Distributor").

It has come to the Company's attention that the amount of the Distributor's sales in 2015 and 2016 were incorrect in the Company's June 2, 2017 management information circular (the "Circular"). The Company received multiple versions of the Distributor's 2015 financial statements, each containing different numbers. The Company mistakenly included as the amount of the Distributor's 2015 sales an amount provided in an earlier version of the Distributor's 2015 financial statements and included the amount from a later version of the Distributor's 2015 financial statements as the 2016 sales amount. In fact, the Distributor's 2015 sales were US$496,838,912. The Company has never received a final version of the Distributor's financial statements for 2016, but based on a draft version of the Distributor's 2016 financial statement, the Distributor's 2016 sales were US$336,331,483. Corrected versions of the tables included on pages 19 and 20 of the Circular are provided below. The Company does not believe the updated information changes in any material respect the issues raised by it in the Circular.

Year

In response to the group of dissident shareholders retaining a proxy solicitation agent in connection with the Company's upcoming annual meeting, the Company has retained Shorecrest Group to act as proxy solicitation agent on behalf of the Company for a fee of approximately US$75,000 and reimbursement of its reasonable out-of-pocket expenses. All costs of solicitation by management will be borne by the Company.

YOUR VOTE IS IMPORTANT. To support your current Board, please vote using only your GREEN proxy. Please disregard any other proxy received. If you have already voted using the dissident proxy and wish to vote FOR the current directors, please vote using the GREEN proxy sent to you. This will automatically revoke any previous proxies submitted. If you have any questions or require assistance in voting, please contact the proxy solicitation agent Shorecrest Group toll free at 1-888-637-5789 or direct 647-931-7454.

About Nerium Biotechnology, Inc.

Nerium Biotechnology, Inc. is a biotechnology company involved in the research, product development, manufacture and marketing of Nerium oleander-based products. The Company's shares are not listed on any stock exchange or quotation system.

Forward Looking Statements: Statements made in this press release that relate to future plans, expectations, events or performances, including with respect to the future distribution and sales of the Company's products and possible revenue, are forward looking statements. Forward-looking statements are not based on historic facts, but rather on current expectations regarding future events. They are based on information available to management and/or assumptions management believes are reasonable. Many factors could cause future events and outcomes to differ materially from those discussed in the forward-looking statements. Although the forward-looking statements are based on what management believes are reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with these forward-looking statements. The forward-looking statements in this press release are made as of the date hereof and, except as required by applicable securities laws, the Company does not assume any obligation to update or revise such forward-looking statements. More information about the Company is available in its disclosure documents, all of which are available on the Company's issuer profile on SEDAR at http://www.sedar.com

To view the shareholder letter and the letter received by Nerium from Crandell Addington please click the following link: http://media3.marketwire.com/docs/NeriumLetter.pdf

Read this article:
Nerium Biotechnology Issues Shareholder Letter and Commences Selling NeriumAD Advanced in Mexico - Marketwired (press release)

This entry was posted on June 18, 2017 at 1:41 am and is filed under Biotechnology. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed. |