Forbes Files Form 20-F; Announces Research Appointments.VANCOUVER, British Columbia--(BUSINESS WIRE)--April 29, 1998-- Forbes Medi-Tech Inc(VSE See DOS/VSE. VSE - Virtual Storage Extended :FMI FMI Fondo Monetario Internacional (Spanish: International Monetary Fund) FMI Fonds Monétaire International FMI For More Information FMI Food Marketing Institute FMI Fundo Monetário Internacional .) Forbes Medi-Tech Inc. (VSE: FMI) ("Forbes" or the "Company") today announced it is preparing to file a registration statement on Form 20-F with the United States Securities and Exchange Commission (SEC). "The Board of Directors initiated the SEC filing to allow Forbes to gain access to the U.S. securities market," said Tazdin Esmail, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "With recent corporate developments, a Form 20-F filing is an appropriate and progressive step for the Company at this time". Form 20-F allows foreign corporations to register securities with the SEC pursuant to Section 12 of the Securities Exchange Act of 1934. The registration does not imply the offering of securities in the United States. On a related matter, the Company has also been granted Advanced Company status by the Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). . As part of the Company's continued initiative into the functional food area, it is pleased to announce the appointment of two new research experts. Dr. Haydn Pritchard, Professor of Pathology at the University of British Columbia Locations Vancouver The Vancouver campus is located at Point Grey, a twenty-minute drive from downtown Vancouver. It is near several beaches and has views of the North Shore mountains. The 7. , and the Director of the Atherosclerosis Specialty Laboratory, St. Paul's Hospital, has been appointed Clinical Research Officer. Dr. Pritchard will be coordinating Forbes efforts in the scientific and clinical collaboration with Novartis in the development of cholesterol-lowering foods. On January 28, 1998, Forbes announced that it signed an Option Agreement with Novartis, a world leader in life sciences, regarding Forbes' FCP (Fibre Channel Protocol) See Fibre Channel. FCP - Flat Concurrent Prolog. ["Design and Implementation of Flat Concurrent Prolog", C. Mierowsky, TR CS84-21 Weizmann Inst, Dec 1984]. , a unique plant-based sterol Sterol Any of a group of naturally occurring or synthetic organic compounds with a steroid ring structure, having a hydroxyl (—OH) group, usually attached to carbon-3. composition, a potential functional food ingredient for lowering cholesterol. Dr. Jerzy Zawistowski has been appointed, Manager, Food Product Development, with responsibilities for the formulation and development of the Company's plant sterol compositions into a wide variety of food products. For over ten years, Dr. Zawistowski has provided management, consulting and research expertise in the food and agricultural sciences to both the public and private sectors. He is currently an Adjunct Associate Professor in the Food Science Department at the University of Manitoba Location The main Fort Garry campus is a complex on the Red River in south Winnipeg. It has an area of 2.74 square kilometres. More than 60 major buildings support the teaching and research programs of the university. , the institution from which he received his Ph.D. in Food Science. Dr. Zawistowski has contributed to over 27 peer-reviewed papers, holds a food-related technology patent, and is the winner of numerous academic awards, scholarships and grants. ON BEHALF OF THE BOARD OF DIRECTORS OF FORBES MEDI-TECH INC. Tazdin Esmail, President and CEO -0- FORBES MEDI-TECH is a Vancouver-based biotechnology company dedicated to research, development and commercialization of pharmaceutical and nutraceutical products derived from forest industry by-products. By extracting plant sterols sterols (ster´ôlz), n.pl steroids having one or more hydroxyl groups and no carbonyl or carboxyl groups (e.g., cholesterol). from tall oil soap, a pulping by-product by·prod·uct or by-prod·uct n. 1. Something produced in the making of something else. 2. A secondary result; a side effect. by-product Noun 1. , Forbes is developing cholesterol-lowering agents to be used as pharmaceutical therapeutics and food supplements in the battle against heart disease. Forbes is also developing innovative technology that converts plant sterols into pharmaceutical fine chemicals, essential in the manufacturing of various pharmaceutical steroids. Using the base products of these technologies, Forbes is further developing methods for the production of "higher value" steroids such as sex hormones and birth control agents. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company. Exemption from registration pursuant to Rule 12(g)3-2(b) 82-3139. The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. CONTACT: Forbes Medi-Tech Inc. Don Lay, 604/681-8976 http://www.forbesmedi-tech.com e-mail: ir@forbesmedi-tech.com |
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