Immunotec Inc.
TSX VENTURE : IMM

Immunotec Inc.

January 24, 2011 17:00 ET

Immunotec Welcomes New President

VAUDREUIL-DORION, QUEBEC--(Marketwire - Jan. 24, 2011) - Immunotec Inc. (TSX VENTURE:IMM), a Canadian based company and a leader in the wellness industry (the "Company"), today announced the appointment of Mr. Stuart A. MacMillan as President of the Corporation.

Prior to joining the Company, Mr. MacMillan has held a number of senior management responsibilities across diverse functional areas, most recently as President of Arbonne Canada from 2006 to 2010 and Sales Lead of Arbonne USA from 2008 to 2010. Prior to Arbonne, Mr. MacMillan was formerly the President and CEO of the Canadian Operations of Weber Shandwick Worldwide, one of the largest public relations firm, and held other senior positions with Bell Canada Enterprises Inc. and ACC Telenterprises Ltd. Mr. MacMillan holds a bachelor degree from McGill University in Montreal.

"Stuart is an excellent professional and I am confident in his ability to help us build a strong US presence", said Bob Henry, Immunotec's Executive Chairman and CEO. "His previous experience in network marketing and working in Canada will also complement effectively the existing team at our head office".

To further strengthen its management team, the board of directors also approved the following appointments:

  • Mr. Robert Henry is assuming the additional role of Chief Executive Officer ("CEO") of Immunotec in addition to his current Executive Chairman role.

  • Mr. Robert Felton is appointed as Chief Operating Officer ("COO") of the Corporation.

  • Mr. Rod Milne is appointed as Vice-President, Field Development and Marketing of the Corporation.

On January 24, 2011, the Board of Directors approved the grant of options to Mr.MacMillan entitling him to acquire up to 200,000 common shares of the Company (the "Shares") at an exercise price of $0.26, being the closing price, the Company's Shares on the TSX-Venture Exchange on January 21 2011, the trading day preceding the grant.

About Immunotec Inc.

Immunotec is a world class business opportunity supported by unique scientifically proven products that improve wellness. Headquartered with manufacturing facilities near Montreal, Canada, the Company also has distribution capacities to support its commercial activities in Canada and internationally to the United States, Europe, Mexico and The Caribbean.

The Company files its consolidated financial statements, its management and discussion analysis report, its press releases and such other required 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.

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, which can be found at www.sedar.com. Consequently, actual results may differ materially from the anticipated results expressed in these forward-looking statements.

"The TSX Venture does not accept responsibility for the adequacy or accuracy of this release."

Contact Information

  • Immunotec Inc.
    Patrick Montpetit
    VP and Chief Financial Officer
    450-510-4527
    www.immunotec.com