BLOOMFIELD HILLS, MI--(Marketwire -06/07/12)- The board of directors of Arizona-based algae producer Health Enhancement Products (HEPI) has appointed a new director, Mr. Brian Young, to serve out the remaining term of departed director Dr. John Crissman, and then stand for election when the entire slate of directors is placed before shareholders for a vote in July 2012.
Mr. Young, 49, is a technology startup specialist with over 20 years of experience. He has a solid track record of successful technology ventures and is a specialist in accelerating the growth of early-stage companies. Mr. Young founded MuniCommerce, a global transaction services provider; Hampton Technology Ventures, an early stage technology investor, and Thor Technologies, a leading access rights management provider. At Thor Technologies, he led the company through three rounds of venture capital financing and its eventual sale to Oracle. Prior to Thor, he was a technology consultant to clients including Winstar, Teligent, MCI and Johnson & Higgins. Mr. Young holds a B.A. degree in Accounting Information Systems from Pace University.
"The board of directors will benefit greatly from Brian Young's background in capital funding and managing rapid growth," states Philip M. Rice II, HEPI Chief Financial Officer and board member. "His extensive contacts and credibility within the investment community will be of immeasurable value to company management as we position ourselves for monetizing the accumulated intellectual property."
The Company is also pre-announcing its annual shareholder meeting, tentatively set to occur on or about July 16. The Company will be issuing a proxy and annual report in advance of the shareholder meeting, per SEC guidelines. A subsequent information release in mid-June will provide more detail concerning the physical location of the meeting, online and conference call options, remote video and voting by proxy.
About Health Enhancement Products, Inc.
Health Enhancement Products, Inc. (HEPI) is a health & wellness company engaged in the development of natural products derived from algae cultures for use as dietary supplements and food ingredients. These natural products are extracted from living algae grown in purified water.
Safe Harbor Statement
Except for any historical information, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve risks and uncertainties. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including the timing of completion of a trial, actual future clinical trial results being different than the results the company has obtained to date, and the company's ability to secure funding. Such statements are subject to a number of assumptions, risks and uncertainties. Readers are cautioned that such statements are not guarantees of future performance and those actual results or developments may differ materially from those set forth in the forward-looking statements. The company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information or otherwise.