Afexa Life Sciences Inc.

TSX : CVQ


Afexa Life Sciences Inc.

October 17, 2008 08:00 ET

CV Technologies Announces Resignation of Board Chairman

Vice Chairman and Lead Independent Director to Lead Board on an Interim Basis

EDMONTON, ALBERTA--(Marketwire - Oct. 17, 2008) - CV Technologies (TSX:CVQ) today announced that it has received the resignation of Gordon Tallman, currently Chairman of the Board of Directors, effective October 31, 2008. Following Mr. Tallman's departure, the Board will be led on an interim basis by Kit Chan, Vice Chairman and Lead Independent Director of the Board.

"I am proud of CV Technologies' accomplishments during my tenure and look forward to the next phase of its evolution. I am confident that the talent and resources within the Company and the Board provide a strong foundation for its future," Mr. Tallman said.

"CV Technologies has benefited from the more than 40 years of business experience that Mr. Tallman brought to our Company, and we thank him for his dedication and commitment since joining the Board as Chairman in January 2003. We also appreciate his efforts in pursuing our ambitious growth plans and we wish him well in the years ahead," Ms. Chan said.

The responsibility for Director appointments, as well as the appointment of a new Chairman, lies with the Corporate Governance and Nominating Committee, which is also led by Ms. Chan.

ABOUT CV TECHNOLOGIES INC.

CV Technologies, founded in 1992, strives to transform people's lives to be healthier and happier by focusing on prevention and recovery through the use of evidence-based naturally-derived health products. The Company's lead product COLD-FX® strengthens the immune system and is widely used as a leading over the counter (OTC) remedy for helping to prevent and relieve cold and flu infections. COLD-FX continues to rank as the number one selling cold and flu remedy in Canada (ACNielsen's MarketTrack Drug Service for Cold Remedies, Natural Supplements & Vitamins Categories for the 52 week period ending July 5, 2008).

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