Magistral completed its acquisition of all of the issued and outstanding shares of
Immunotec Research Ltd. (“Immunotec”) and received shareholders’ approval of
a proposed consolidation of its outstanding common shares on a 40:1 basis and
the change of its corporate name to “Immunotec Inc.”. Magistral also intends to
merge Immunotec into the Company before the end of the calendar year.
Dieter Beer Mr. Beer is the co founder of Immunotec. Mr. Beer founded
Immunotec Research Corp. with Dr. Gustavo Bounous and a team of medical
researchers from McGill University in 1988. In 1996, Immunotec Research Corp.
merged with Mr. Roberts’ company to form Immunotec. Earlier in his career, in
1961, Mr. Beer launched an electronics import business in Germany. As the
exclusive agent and importer of leading electronics brands, he commercialized
his own line of audio, hi fi and video equipment under the company name TEC.
Mr. Beer then went on to purchase ORFA AG, a Swiss environmental and
engineering company, and developed a fully automated recycling system that
was licensed to companies such as Hitachi Zosen, Kawasaki Heavy Industries,
ORFA Germany and Ecoltecnica Italy. The launch of other ORFA projects in
Europe, the Middle East and Asia followed. Mr. Beer has studied Economics,
Electronics, International Law and Languages in Germany, England, France and
Spain.
Jean La Couture, FCA Mr. La Couture is the President of Huis Clos Ltd., a
management and mediation firm. He is also the President of the “Regroupement
des assureurs de personnes à charte du Québec”, a Quebec association of life
insurers. Mr. La Couture currently serves on the Board of Directors of several
other private and public companies, including Innergex Power Trust (listed on the
TSX), Americ Disc. Inc., Maestro (real estate), Tecsult Inc. and Club Saint Denis,
and is a director and the Chairman of the Audit Committee for Quebecor Inc.,
Quebecor Media Inc., Videotron Ltd., Sun Media Corporation and Groupe
Pomerleau.
Donald G. Watt Mr. Watt has been the Chairman and Chief Executive Officer of
DW+Partners, a firm dedicated to helping companies improve their brands and
performance, since September 2003. The firm invests in, manages and
enhances assets in the areas of branding, product development and packaging,
retail planning and design, communications and innovative new technologies in
support of the retail experience. Mr. Watt founded and, until June 2003, led Watt
International, one of the largest strategic planning and design firms in North
America. Mr. Watt is best known for providing innovative retail solutions for
clients such as Wal-Mart, Home Depot, Safeway, Loblaws, Ahold, Do-It-Best
Corp, Nestle, Kraft and Cott Corporation. Mr. Watt sits on the Boards of Directors
of Cott Corporation, the Forzani Group, Aastra Technologies Limited, Menu
Foods Inc., Pet Health Inc. and CEI.
James A. Northrop Mr. Northrop has wide ranging experience in brand
marketing. Since 2006, Mr. Northrop has been the principal of Winfield
Consulting, LLC, a consulting company providing services to the direct selling
industry. From 1994 to 2006, Mr. Northrop was the Chairman of Princess House,
Inc, a privately held direct sales company with over 16,000 field representatives
marketing a broad range of giftware and household products at in home parties
in the US, Canada and Mexico. Mr. Northrop served as the Chief Executive
Officer of Princess House, Inc. from 1994 to 2005. Prior to his initial involvement
with Princess House, Inc. in 1994, Mr. Northrop held executive positions with a
variety of other retail sales companies, including divisions of J. Crew, Hallmark
Cards, General Mills and Quaker Oats. Mr. Northrop currently serves on the
Board of Directors of the DSA and is the Vice Chairman of the Direct Selling
Education Foundation.
Charles L. Orr Mr. Orr has 41 years of experience in a variety of industries and
distribution channels including financial services, information systems, dietary
supplements, foods, roses, household products, skincare and water filtration.
From 1993 through 2000, Mr. Orr was President and Chief Executive Officer of
Shaklee Corporation, which included the brand names of Harry and David,
Jackson and Perkins and Shaklee. Prior business associations include RCA,
Xerox, Connecticut General, Southwestern Life, Continental Insurance and
Federated Investors. From 2000 to present, Mr. Orr has served as an advisor
and board member to several private and public companies. Past board
affiliations include Herbalife Ltd. (NYSE:HLF), Provident Mutual Life Insurance
Company, Shaklee Corporation, the DSA, Consumer Health Products
Association and Shaklee Cares. Current board positions include Zero
Technologies LLC, Swiss Medica Inc. (OTCBB: SWME) and The Direct Selling
Education Foundation.
The management of the Company intends to effect the share consolidation and
change of name, as well as to merge Immunotec into the Company, before the
end of the calendar year.
It is intended that the shares of the Company will resume trading on the TSX-V
under the symbol “IMM” during the first half of January 2007, following the receipt
of the final approval of the TSX-V.
Not applicable.
Item 7. Omitted Information
Further information with respect to the material change described in this material
change report may be obtained from :
Richard Patte
Executive Vice-President and Chief Financial Officer, Magistral Biotech Inc.
(450) 424-9992
(#968829-v1)