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Burlington, Ontario, April 15, 2015 – EcoSynthetix Inc. (TSX: ECO) (“EcoSynthetix” or the “Company”), a renewable chemicals company that produces a family of commercially proven bio-based products, announces that management intends to nominate David Colcleugh, Jeff MacDonald, John E. Barker, John Varghese, Arthur Carty and Paul Lucas for election to the Company’s board of directors at its upcoming annual and special meeting of shareholders to be held on May 8, 2015 (the “Meeting”). Mr. Lucas is a director nominee proposed by Lions Investment Ltd. (“Lions”). Lions has agreed to withdraw the director nominations it had previously submitted to the Company and support the election of management’s director nominees.
"We are pleased to strengthen our Board with the addition of a new, highly qualified, and independent director nominee, who will add valuable experience and fresh perspective to the EcoSynthetix Board," said David Colcleugh, Chairman of the Company. "We remain committed to the implementation of our previously announced strategic plan and look forward to returning the business to its growth trajectory and working collaboratively with Management to generate value for the Company's shareholders."
The Company expects to mail a management information circular to shareholders in relation to the Meeting on or prior to April 17, 2015.
About EcoSynthetix Inc. (www.ecosynthetix.com)
EcoSynthetix Inc. is a renewable chemicals company specializing in bio-based products that can be used as inputs in industrial manufacturing for a wide range of consumer products. The Company’s products offer a reduced carbon footprint and are marketed primarily on the basis of lower cost, stable pricing and equal or superior performance. EcoSynthetix’s lead product, EcoSphere® biolatex® binders, is used commercially by a number of the global top 20 manufacturers in the coated paper and paperboard industry.
Forward Looking Statements
This press release contains certain forward-looking statements about the Company’s future plans and intentions, including statements relating to the Company’s intention to implement changes across it business to achieve growth. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “scheduled” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect Management's current beliefs and are based on information currently available to management as at the date hereof. Those statements include, but are not limited to, statements relating to nomination of directors for election at the Meeting and the information circular relating thereto.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.