Jan 20 2010
ConjuChem Biotechnologies, Inc. (TSX: CJB) announced today that it has established a Special Committee of independent Board members to explore and evaluate all strategic alternatives including, but not limited to, a sale of the Company or the sale of all or a substantial part of its assets. The Committee will be working with management and external consultants to expeditiously make recommendations as to the optimal path forward for ConjuChem and all its stakeholders. The Committee will be chaired by Jacques Lapointe, Chairman of the Board, and include Steve Perrone and William Heiden.
At this time, ConjuChem has not made a decision to pursue any specific strategic transaction or other strategic alternative but there is an expectation that this process will result in a transaction or other strategic alternative being implemented. ConjuChem does not intend to comment further on this process unless and until its Board of Directors has approved a specific transaction or other strategic alternative.
Source:
ConjuChem Biotechnologies Inc.