Immunotec Inc.
TSX VENTURE : IMM

Immunotec Inc.

October 30, 2014 16:46 ET

Immunotec Celebrates a Fourth Anniversary in Mexico and Announces the Appointment of a New Director

VAUDREUIL-DORION, QUEBEC--(Marketwired - Oct. 30, 2014) - Immunotec Inc. (TSX VENTURE:IMM), a direct-to-consumer company and a leader in the nutritional industry (the "Company" or "Immunotec"), today announced the appointment of a new director and celebration of the fourth anniversary of its presence in Mexico.

Fourth Anniversary in Mexico

On October 24 and 25, 2014 Immunotec celebrated the fourth anniversary of the expansion of its seamless Network in Mexico by hosting a variety of commemorative events, hosting nearly 3,000 people over this two-day period. In 2010, Immunotec made the decision to integrate the existing licensee into the network business. After four years, the Mexican corporate entity has reported C$39.6M in revenues in the last twelve months, equivalent to a 133% compounded growth rate.

"Our success in Mexico is driven by the entrepreneurial spirit of our Field leaders, which enabled us to welcome Consultants from all States and create the momentum necessary to sustain real growth in the market" said Mr. Charles L. Orr, Chief Executive Officer. "Our strategy of vertical integration will enable us to deploy more resources in Mexico in 2015 such as a new warehouse and kitting facility in Toluca, a municipality close to Mexico City."

Appointment of a New Director

The Company today announced the appointment of Mr. Robert Raich as an additional member of its Board of Directors.

Mr. Raich is a Senior Partner at the legal firm Spiegel Sohmer and has been with this firm since 1976. Mr. Raich also served as its Managing Partner from 1985 to 2011. Mr. Raich is a senior member of the firm's taxation law department, specializing in corporate tax planning and reorganizations, international tax law and estate planning. He also possesses extensive experience in commercial transactions.

Mr. Raich has also served on numerous public Boards and has been a member of both the audit committee and the compensation committee for such publicly-listed companies.

"We are extremely pleased that Me Robert Raich will be joining our Board", said Mr. Rod Budd, Chairman of the Board. "With his experience and expertise Robert will have a significant and positive impact on Immunotec."

About Immunotec Inc.

Immunotec is a Canadian-based Company that develops, manufactures, markets and sells research-driven nutritional products through direct-to-consumer sales channels in Canada, the U.S. and Mexico. The Company offers an extensive family of nutritional products targeting health, wellness, weight management, as well as energy and fitness. The Immunocal family of products is supported by over 40 published articles and supporting science in medical and scientific literature.

Please visit us at www.immunotec.com for additional information.

The Company files its continuous disclosure documents on the SEDAR database at www.sedar.com and on the Company's website at www.immunotec.com. The common shares of the Company are listed on the TSX Venture Exchange under the ticker symbol IMM. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS: Certain statements contained in this news release are forward looking and are subject to numerous risks and uncertainties, known and unknown. For information identifying known risks and uncertainties and other important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the heading Risks and Uncertainties in Immunotec's most recent Management's Discussion and Analysis, Annual Information Form and Preliminary Short Form Prospectus, which can be found at www.sedar.com. Consequently, actual results may differ materially from the anticipated results expressed in these forward-looking statements.

Contact Information

  • Patrick Montpetit CPA:CA, CF,
    Vice-President and Chief Financial Officer
    Immunotec Inc.
    (450) 510-4527