VANCOUVER, British Columbia, Dec. 05, 2023 (GLOBE NEWSWIRE) -- MedBright AI Investments Inc. (the “Company” or “MedBright”) (CSE:MBAI, OTCQB:MBAIF, FSE:1V7) is pleased to announce the election of two new board members to the Board of Directors, Dr. Jaime Gerber and Dr. Konita Wilks, at the Company’s annual general and special meeting of shareholders held on December 1, 2023. Dr. Gerber will serve as Chairman of the Board.
Dr. Jaime Gerber, MD, FACC, RPVI, is a cardiologist specializing in preventive cardiology, as well as complex cardiology cases that involve coronary artery disease, peripheral artery disease, and risk factor modification. Additionally, Dr. Gerber is a Professor of Medicine at Yale Medical School, is the co-director of the Yale Executive Health program, and directs the Yale New Haven Heart & Vascular Center laboratory for vascular ultrasound testing for peripheral arterial disease. He has broad experience in medical systems management and healthcare start-ups.
Dr. Konita Wilks, DDS, applies mission-driven, strategic thinking to improve hospital operations and patient outcomes as the CEO of Olive View-UCLA Medical Center in Los Angeles, CA, a 355-bed general acute care hospital that employs nearly 5500 persons and has a $900-million dollar annual operating budget. She has over 25 years of experience as a dynamic, visionary leader in healthcare and the military. Prior to her role as CEO, she served as the Medical Director of Quality and Patient Safety Officer and Chief of Dental Services for Los Angeles County Health Services. Dr. Wilks is a U.S. Naval Academy graduate, naval officer, and combat veteran who fought in support of Operation Iraqi Freedom and Enduring Freedom in the Persian Gulf. She received her doctorate from the UCLA School of Dentistry.
Michael Dalsin, Chairman of the Investment Committee says, “Both Dr. Gerber and Dr. Wilks have a proven track record as leaders in healthcare services. As a large shareholder, I was pleased to see their appointment to the Board of Directors. Both will be tremendous assets to this organization. I have sought each of their expertise for over 15 years in past endeavors, including my time as Chairman of Patient Home Monitoring (PHM.V) which was listed on the TSXV before spinning out into two companies, VieMed Healthcare (VMD) and Quipt Home Medical (QIPT), which currently trade on the Nasdaq.”
Approval of Class “A” Non-Voting Common Shares
The Company also announces that the Company’s shareholders have approved the creation of a new class of Class “A” non-voting common shares (the “Non-Voting Shares”) in connection with the Company’s previously announced transaction with an FDA & HIPPA compliant Artificial Intelligence Platform “AIP” doing business as Limmi, a Delaware corporation named Mentorhead Incorporated (“Limmi”). For a more detailed description of the proposed transaction with Limmi, see the Company’s news releases dated September 8, 2023 and October 17, 2023.
Once created, the Non-Voting Shares shall have the same attributes as the common shares of the Company (“Common Shares”), except that the Non-Voting Shares will not be listed on the Canadian Securities Exchange, will not carry the right to vote, and will be convertible into Common Shares on a one-for-one basis, subject to certain conditions, including a prohibition on the holder of Non-Voting Shares from converting such shares into Common Shares if it would result in such holder holding more than 9.9% of the Common Shares.
MedBright AI is a capital allocator focused on investing in healthcare technology companies. The team at MedBright prides themselves on unparalleled access to opportunities, as well as structuring unique and advantageous investments. MedBright's mission is to construct a portfolio of synergistic investments to generate superior returns for shareholders. MedBright will focus on significant near-term and midterm high-quality opportunities with strong return potentials while maintaining commitment to governance.
MedBright AI Investments Inc.
Alnoor Nathoo, Chief Executive Officer
Cautionary Statement Regarding "Forward-Looking" Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including, without limitation, the Company’s plans to generate returns for its shareholders through its portfolio of investments, are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should” or “would” or occur.
Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including, among other things, that the Company will be able to generate returns for its shareholders. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important risks that may cause actual results to vary, include, without limitation, the risk that the Company’s portfolio of investments will not generate returns for shareholders.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.