Expands New Management Team and Board of Directors
Expected Launch of www.nuvilex.com Reflects Company's Vision
CHERRY HILL, N.J., March 18 /PRNewswire-FirstCall/ -- eFoodSafety.com, Inc. (OTC Bulletin Board: EFSF.OB), an emerging healthcare consumer products company with a portfolio of aesthetic, dermatology, environmental and nutraceutical products, today announced that it has changed its name from eFoodSafety.com, Inc. to Nuvilex, Inc. The Company is also announcing its expanded management team and Board of Directors. Nuvilex will begin trading under its new stock ticker symbol, OTC Bulletin Board: NVLX.OB, as of the market open on March 18, 2009.
Nuvilex better defines the Company and its mission. The name is a combination of several important ideas: New, Vitality and Excellence. The Board of Directors, along with Management, is committed to a new corporate vision, strategy, performance based execution and drive towards profitability. Vitality describes the energy, excitement and good health our products will bring to our customers' lives. Excellence is our commitment to the high standards of care we will deliver to our valued customers, employees, the communities we live in and our shareholders.
Martin Schmieg, Chairman and Chief Executive Officer commented, "Since announcing the merger between eFoodSafety.com and Freedom2, we have talked openly about our vision for the future of the now merged company. We have taken the time to review and understand the performance and value of our technology platforms, product pipelines and marketing programs. From this review, we have provided general financial guidance for the 2010 fiscal year, which ends April 30, 2010. We have engaged advertising, branding, communications and marketing experts to look at the Company and its product lines to improve their visibility, revenue performance and future profitability. All of these actions have been a buildup to where we are today. Today, we are a new company - Nuvilex. We are pleased and excited to announce our new name, as well as our newly assembled management team and Board of Directors."
The Nuvilex management team consists of: Martin Schmieg, Chairman and Chief Executive Officer; Blair Barnes, Senior Vice President and Chief Financial Officer; Robert Bowker, President of Knock-Out Technologies, Ltd.; Richard Goldfarb, M.D., F.A.C.S., President of MedElite, Inc.; Christine Solari, Senior Vice President of Research, Development and Manufacturing; Peter Morello, Ph.D, Director of Research, Steven Kushner, Ph.D, Nutritional Consultant and Ron Kennedy, Controller. Management bios can be found on the Company's website at www.nuvilex.com.
Mr. Schmieg stated, "In combining the management teams of eFoodSafety and Freedom2, we have assembled an outstanding team of people with a deep level of expertise across many disciplines - strategy, research and development, medical, operations, business development, marketing, sales and finance. The team's experience and talent will play a critical role in our growth as we seek to build a successful and profitable company."
Martin Schmieg, Chairman, will lead Nuvilex' Board of Directors which will include, from eFoodSafety.com, Robert Bowker, Richard M. Goldfarb, M.D., F.A.C.S., and Timothy Matula. Robert Creeden, Managing Director of the Partner's Innovation Fund, will join, with Blair Barnes, Chief Financial Officer, to round out the current Board. Nuvilex now has 6 directors, 2 of whom are independent. The Company is engaged in a search to find an additional independent director who would ideally bring broad consumer marketing experience to the Board.
"Our new board, drawn from the worlds of finance, medical and holistic research, aesthetic and consumer products is well suited to make the necessary decisions for Nuvilex' success in 2009 and into the future," commented Mr. Schmieg.
As previously announced, the Company engaged Iridium Group to develop a new brand identity for the company. Nuvilex' new website can be found at www.nuvilex.com.
Mr. Schmieg commented, "Our new website reflects the newness and vitality of our recently merged company. The website will be updated often and, much like Nuvilex itself, will continue to build off of a strong base."
Our name change will officially take place on March 18, 2009. On that date, Nuvilex will trade under the ticker OTC Bulletin Board: NVLX.OB. Most quotation services will redirect eFoodSafety.com inquiries to the new symbol. The cusip number has changed along with the name. The new cusip number is 67090R100. Existing and outstanding eFoodSafety.com stock certificates will continue to be recognized as valid.
About Nuvilex, Inc.
Nuvilex, formerly known as eFoodSafety.com, is an emerging healthcare consumer products company with a portfolio of aesthetics, dermatology, environmental and nutraceutical products. The company's focus is on developing, licensing and commercialized healthcare products that address the health needs of consumers worldwide. In March 2009, Nuvilex acquired Freedom2, Holdings, Inc., a diversified skin products technology company serving the fast-growing body art, aesthetic, cosmetic and skin therapy markets. More information about Nuvilex is available at www.nuvilex.com.
Safe Harbor for Public Companies
Statements contained in this release that are not strictly historical are "forward-looking statements." Such forward-looking statements are sometimes identified by words such as "intends," "anticipates," "believes," "expects," and "hopes." The forward-looking statements are made based on information available as of the date hereof, and the Company assumes no obligation to update such forward-looking statements. Editors and investors are cautioned that such forward-looking statements involve risks and uncertainties that could cause the Company's actual results to differ materially from those in these forward-looking statements. Such risks and uncertainties include, but are not limited to, demand for the Company's products and services, our ability to continue to develop markets, general economic conditions, our ability to secure additional financing for the Company and other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission.
Contacts: Blair Barnes Chief Financial Officer Ph: 856-433-6088 Email: email@example.com Stephanie Carrington/Amy Glynn The Ruth Group 646-536-7017/7023 firstname.lastname@example.org email@example.com Press: Pat Arcand Arcand & Madison Public Relations Ph: 617-576-7777 Email: firstname.lastname@example.org
|SOURCE eFoodSafety.com, Inc.|
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