Vancouver, British Columbia--(Newsfile Corp. - September 28, 2017) - CVR Medical Corp. (TSXV: CVM) (FSE: B3BN) (OTCQB: CRRVF) ("CVR Medical") announces the addition of Mr. Tim Knisley as Director of Finance and Controlling. Knisley will spearhead the building of CVR's financial systems as they transition from research and development-based to commercial-ready with the launch of the "Carotid Stenotic Scan (CSS)" device.
Mr. Tim Knisley has worked in the medical device industry for over twenty years, successfully managing finances and plant controls for several manufacturing companies, including Kendall, Tyco, and the German multinational corporation Beiersdorf AG. With an expert knowledge of medical device company accounting and finance systems, his work will focus on preparing CVR for the fundamental shift to revenue and cost structures associated with commercial sales. In addition, he is a certified Lean 6 Sigma Green Belt and Lead Internal Auditor, and his experience with the engineering change notice process and control documentation will provide tangible value to CVR's quality management systems.
CVR CEO Peter Bakema states, "We are very pleased to share the addition of Tim Knisley to our staff. His role will be integral to allowing us to transition seamlessly into the next financial phase of the company. His knowledge of quality controls will also help ensure that our supply chain management functions reflect the efficiency and excellence of our partner, Canon."
"I'm excited to join the CVR team," says Knisley. "This is a talented, hardworking team with talented individuals that have a shared vision of reducing stroke and the impact it has on its victims. Having seen that impact personally, through my grandfather's stroke and the debilitated state that it left him in for the remainder of his life, the lasting impression I had was that this is something we need to fix. The opportunity to contribute to what CVR is doing is one that is truly special because the CSS is a device that can and will save lives."
For additional information on the organization, leadership, and current news please visit the newly launched company website www.CVRMed.com
About CVR Medical
CVR Medical is a company that is involved in an equal parts joint venture with CVR Global Inc. (the "Joint Venture"). The Joint Venture operates in the medical industry focused on the commercialization of a proprietary subsonic, infrasonic, and low frequency sound wave analysis technology and has patents to a diagnostic device designed to detect and measure carotid arterial stenosis. CVR Medical is managed by a proven technical team. CVR Medical trades on the TSX Venture Exchange under the symbol CVM.
ON BEHALF OF THE BOARD:
(signed) "Peter Bakema"
CEO, President & Director
For further information contact:
Peter Bakema, CEO, President and Director
Telephone: (734) 718-5115
Brisco Capital Partners Corp.
Scott Koyich, President
Telephone: (403) 262-9888
This press release contains forward-looking information that involves various risks and uncertainties regarding future events related to the Joint Venture. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with commercialization of technology and the practice of medicine, (3) a change in health regulations, (4) any number of events or causes which may delay or cease commercialization and development of the Joint Venture, (5) the risk that the Company or the Joint Venture does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
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