November 2, 2006
Urodynamix Announces Appointment of New Director and Issuance of Stock Options
For Immediate Release:
Vancouver, BC - (November 2, 2006) Urodynamix Technologies Ltd. (TSX-V:URO) today announced the appointment of Dr. Zeid Mohamedali, MD, PhD, FRCSC to the Company's Board of Directors. Dr. Mohamedali has over 20 years of experience in medical research and clinical practice, with expertise in oncology and urology.
Dr. Mohamedali is a consulting urologist at several hospitals in British Columbia, a Fellow of the Royal College of Physicians and Surgeons, and is board certified in Urology by the Medical Council of Canada. He has received numerous awards and honors for his research from the American Urological Association, the Canadian Cancer Society, the Natural Sciences and Engineering Research Council of Canada and the Medical Research Council of Canada. He received his MD and PhD degrees from the Faculty of Medicine at the University of British Columbia.
"Dr. Mohamedali's appointment brings to our Board valuable expertise in urology and the application of medical technology in clinical practice," said Barry Allen, Chairman of the Board and CEO of Urodynamix. "He will bring additional insight to key issues the Company will face as it continues to develop and commercialize URO-NIRS and evaluate other products in our NIRS pipeline."
The company also announced that it has issued 3,274,000 incentive stock options to directors, officers and employees of the company. The options are five year options with an exercise price of $0.15 per share and have been issued in conformance with TSX Venture Exchange regulations. The stock options are being offered as part of Director compensation and as a long term incentive to attract, retain and motivate employees.
Urodynamix currently has outstanding 64,995,027 common shares, 17,145,365 warrants and 2,560,000 incentive stock options. The company's Stock Option Plan allows the Board to issue the equivalent of up to 10% of the issued and outstanding share capital of the company on a rolling basis and was accepted by the TSX Venture Exchange on June 13, 2006.
About Urodynamix Technologies Ltd.
Urodynamix Technologies Ltd. is the world leader in non-invasive measurement of bladder function and urological conditions. Urodynamix is focused on the development and commercialization of breakthrough diagnostic technology for bladder conditions specifically urinary incontinence (UI). Urodynamix is currently developing a family of non-invasive diagnostic and monitoring technologies for the over 200 Million UI sufferers worldwide.
On behalf of the Board,
“Barry Allen”
President & CEO
Urodynamix Technologies Ltd.
Certain information contained in this press release may be forward looking and is subject to unknown risks, which could cause actual results to differ materially from those, set forth or implied herein.Al though the Company believes that the expectations reflected in such forward-looking statements are reasonable; it can give no assurance that such expectations will prove correct.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Craig Pamplin
Email: cpamplin@urodynamix.com |
