TORONTO, Feb. 04, 2025 (GLOBE NEWSWIRE) -- Conavi Medical Corp. (TSXV: CNVI) (“Conavi” or the “Corporation”), a commercial stage medical device company focused on designing, manufacturing, and marketing imaging technologies to guide common minimally invasive cardiovascular procedure, is pleased to announce that it has entered into a Corporate Development and Strategic services agreement with BND Projects Inc. (“BND”).
BND will advise on corporate developments and strategic investment matters, including communications strategy and raising public awareness of Conavi and its business.
Subject to the approval of the TSX Venture Exchange (the “TSXV”), the terms of the Agreement provide that the Corporation will pay BND an initial one-time upfront fee of $22,500 plus a further monthly fee of $15,000 (plus HST). The contract commences on February 4, 2025 for an initial term of six months and will be renewed automatically on a month-to-month basis thereafter, unless otherwise terminated by the parties in accordance with the terms thereof. BND may terminate the agreement for convenience on 30 days’ notice effective six months from the commencement of the contract, and Conavi may terminate the agreement for convenience on 30 days’ notice effective four months from the commencement of the contract.
BND may be eligible for a grant of stock options from the Corporation at a later date, though no grant of stock options is being made at this time. Any such grant of stock options will be made in accordance with TSXV policies.
About BND Projects Inc.
BND is a Canadian consulting firm based in the Greater Toronto Area and was founded by Christina Cameron. Ms. Cameron, a capital markets expert with over 25 years of experience in life science corporate development, will be providing the services under the Agreement.
The Corporation and BND act at arm’s length and BND has no present interest, directly or indirectly, in the Corporation or its securities. The fees paid by the Corporation to BND are for its services only.
About Conavi Medical Conavi Medical is focused on designing, manufacturing, and marketing imaging technologies to guide common minimally invasive cardiovascular procedures. Its patented Novasight Hybrid™ System is the first system to combine both intravascular ultrasound (IVUS) and optical coherence tomography (OCT) to enable simultaneous and co-registered imaging of coronary arteries. The Novasight Hybrid System has 510(k) clearance from the U.S. Food and Drug Administration; and regulatory approval for clinical use from Health Canada, China’s National Medical Products Administration, and Japan’s Ministry of Health, Labor and Welfare. For more information, visit http://www.conavi.com/.
Notice on forward-looking statements: This press release includes forward-looking information or forward-looking statements within the meaning of applicable securities laws regarding the Corporation and its business, which may include, but are not limited to, statements with respect to the commercialization of Conavi’s Novasight Hybrid™ System and the services to be provided to Conavi by BND. All statements that are, or information which is, not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking information or statements”. Often but not always, forward-looking information or statements can be identified by the use of words such as “shall”, “intends”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate” “anticipate” or any variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “might”, “can”, “could”, “would” or “will” be taken, occur, lead to, result in, or, be achieved. Such statements are based on the current expectations and views of future events of the management of the Corporation. They are based on assumptions and subject to risks and uncertainties. Although management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Corporation, including, without limitation, those listed in the "Risk Factors" section of the joint information circular of the Corporation dated August 30, 2024 (both of which are on the Corporation’s profile at www.sedarplus.ca). Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Corporation does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
No regulatory authority has approved or disapproved the content of this press release. Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
