Monarch Energy Announces Appointment of a Director and Grants Options
July 9, 2014
Monarch Energy Limited (CSE: CHX) (OTC: MNLIF) ("Monarch" or the "Company") announces that it has granted an aggregate of 2,950,000 options to purchase common shares of the Company exercisable at a price of $0.10 per share and expiring on July 9, 2019, to certain directors, officers and consultants of the Company. The common shares issuable upon exercise of the options are subject to a four-month hold period from the original date of grant.
The Company would also like to announce the appointment of Mr. Mike Minder to the board of directors. Mr. Minder is an experienced financial executive who has been involved with other technology companies. The Company is delighted that he is joining the Board and is confident that his expertise will be extremely beneficial to the Company's growth and development.
About Monarch Energy
Monarch operating as ChroMedX Ltd. is an early stage company focused on the development of novel medical devices for in vitro diagnostics and point-of-care testing. The devices are protected by the Company's issued US and pending international patents, dealing with blood collection, analysis and plasma/serum processing. Application of the devices is extended to address special requirements for neonatal care.
The Company will be holding an Annual and Special General Meeting on August 29, 2014 at which time the Company intends to seek shareholder approval to change its name to ChroMedX Ltd.
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NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.
The security symbol, MNLIF, is part of the OTC Grey Market, where Monarch does not provide any reports and has no obligation to do so. There are no market makers under this symbol of this security. It is not listed, traded or quoted on any U.S. stock exchange or the OTC Markets. Trades in grey market stocks are reported by broker-dealers to their Self Regulatory Organization (SRO) and the SRO distributes the trade data to market data vendors and financial websites so investors can track price and volume. Since grey market securities are not traded or quoted on an exchange or interdealer quotation system, investor's bids and offers are not collected in a central spot so market transparency is diminished and best execution of orders is difficult.