Edmonton, Alberta, January 13, 2025 – The Board of Directors of Innovotech Inc. (TSX-V: IOT) (“Innovotech” or the “Company”) has appointed Brad Clark as a director of the Company, effective immediately.
Mr. Clark is a seasoned finance professional with over 15 years of experience, holding both Chartered Professional Accountant (CPA) and Chartered Business Valuator (CBV) designations. Specializing in business valuations, tax strategy, and accounting, including international tax structuring, Mr. Clark focuses on scaling growth-oriented companies. Mr. Clark will be granted 50,000 incentive stock options at $0.18, reflecting the close of market today, and exercisable over five years.
Innovotech has also created an operating company, Innovotech Labs Corporation (“ILC” or “Innovotech Labs”), a wholly owned subsidiary. This new entity encompasses the Company’s contract research, MBEC™ Assay kit production, and antimicrobial silver commercialization activities. This development mirrors the structure established with Innovotech’s other operating company, Keystone Labs Inc., acquired in November 2024.
“With these initiatives, Innovotech is strengthening its operational foundation and establishing a platform for pursuing targeted growth opportunities,” said CEO Craig Milne. “With Mr. Clark’s extensive expertise in finance, M&A, and scaling businesses, the Board gains strategic and technical insight that complements the Company’s focus on innovation and value creation.”
The formation of Innovotech Labs consolidates critical operational activities, enabling streamlined processes and enhanced focus on contract research, MBEC™ Assay kit production, and commercialization of InnovoSIL™ Antimicrobial silver. Keystone Labs Inc., a Health Canada, Drug Establishment License (DEL)-accredited lab providing pharmaceutical and other testing services, remains a strong operating core of the group of businesses. Together, these steps are intended to position the Company to continue delivering on high value services to clients, adapt to evolving market demands, and explore new avenues for long-term success.
