Venturi Ventures Inc.

August 27, 2014 14:14 ET

Bob Rai and Punit Dhillon Appointed to the Board of Venturi

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 27, 2014) - Venturi Ventures Inc. (TSX VENTURE:VVV) ("Venturi" or the "Company") is pleased to announce that Bob Rai and Punit Dhillon have joined its Board of Directors.

As announced on May 23, 2014, the Company has entered into a letter of intent with Medna Biosciences Inc. ("Medna"), outlining the general terms and conditions of a proposed non-arm's length transaction pursuant to which Venturi proposes to acquire all of the issued and outstanding securities of Medna in exchange for securities of Venturi. The Company feels the proposed change in directors aligns with the Company's focus on pursuing opportunities in the medical marijuana industry.

Bob Rai is an entrepreneur with 18 years of experience in operating a string of Medicine Shoppe Pharmacy Outlets ( in Greater Vancouver, Canada. His pharmacies are the first in Canada to launch two new pilot programs - Point of Care HIV tests and screening for Chronic Kidney Disease. Both of these government-funded programs are being carried out at his Medicine Shoppe Pharmacy Outlets. These are pioneering and innovative programs, which will help expand the scope of practice for the profession of pharmacy. He is a shareholder and sat on the Board of Directors of Perceptronix Medical Inc. (, ( from 2011-2014; a company focused on early cancer detection. He is also Chairman and Chief Executive Officer of Canadian Pacific Global Pharmaceuticals and Chairman of its subsidiary, PharmaCanada Inc. (

Punit Dhillon is the co-founder and Chief Executive Officer of OncoSec Medical, Inc. (, a San Diego based biopharmaceutical company developing advanced-stage immunotherapy to treat solid tumors. Punit previously served as Vice President of Finance and Operations at Inovio Pharmaceuticals Inc. ( In his management experience, Punit has raised over $160 million through multiple financings and several licensing deals, including early stage transactions with Merck and Wyeth. Most recently, Punit has been leading the development of a pipeline of novel immunotherapy candidates for a wide range of solid tumor applications at OncoSec with an industry leading technology. His management experience spans corporate finance, M&A, integration, successful in-licensing of key intellectual property, strategy implementation, corporate transactions and collaborations with leading universities and working with several key opinion leaders across the globe.

The Company also announces that David Raffa, Ron Palfery and Kirk Exner have resigned as directors of Venturi effective immediately.

The changes to the Venturi Board of Directors, as described in this news release, remain subject to approval by the TSX Venture Exchange.

Jim Heppell, Chief Executive Officer and Chair of Venturi states "the appointment of Bob and Punit to the Venturi Board of Directors is an important step forward for the Company as we approach our merger with Medna. Their experience and expertise in building biotechnology and pharmaceutical companies will be of great assistance in developing the combined entity into a leading life science company focused on the development of cannabis for medical purposes. I also want to personally thank David Raffa, Ron Palfery and Kirk Exner, who are concurrently stepping down as directors of Venturi, for their significant efforts in carrying out due diligence on the dozens and dozens of potential Venturi acquisitions we reviewed together."

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "expects," "plans," "estimates," "intends," "believes," "could," "might," "will" or variations of such words and phrases. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties. Examples of forward-looking information in this news release include, but are not limited to, statements with respect to the Company's merger with Medna Biosciences Inc. For additional information on risks and uncertainties, see the Company's most recently filed MD&A, which is available on SEDAR at The risk factors identified in the Company's MD&A are not intended to represent a complete list of factors that could affect the Company. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not assume any obligation to update the forward-looking information contained in this press release.

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