Hemostemix Announces the Appointments of Loran Swanberg and Christina Wu, CPA, CGA

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Calgary, Alberta--(Newsfile Corp. - April 9, 2020) - Hemostemix Inc. (TSXV: HEM) (OTC: HMTXF) ("Hemostemix" or the "Company") is pleased to announce the appointment of Mr. Loran Swanberg to its Board of Directors. Mr. Swanberg is a successful businessman who increased his ownership of the Company from 0.8% in 2019 to 7.8% in 2020. In combination with Mssrs. Lacey, Hershman and Smeenk, the board now owns 21% of the Company's shares.

Mr. Swanberg has been part owner and a director of a private company, Landsman Properties Ltd. ("Landsman") since 2005. Landsman owns and leases out shop and office space in North East British Columbia and Alberta. From 1992 to 2005, Mr. Swanberg was a director of the family owned oilfield transportation company, Swanberg Bros. Trucking Ltd. The company was purchased by Producers Oilfield Services Inc. in 2005. Mr. Swanberg was also director of privately held Swanberg Air Inc. from 2000 to 2012, and was a director of the Northern B.C. Truckers' Association for 10 years, 1992 to 2002. Most recently, Mr. Swanberg was a partner and director of Vieworx Geophoto Inc. from 2012 until Q1 2020.

The Company is also pleased to announce the appointment of Ms. Christina Wu, CPA, CGA as its interim Chief Financial Officer. Ms. Wu is a Senior Financial Analyst employed by Marrelli Support Services Inc., a part of the Marrelli Group of Companies that includes DSA Corporate Services Inc., a leader in delivering corporate secretarial services. Marrelli is a highly respected leader in providing financial accounting and reporting services to companies active in Canadian capital markets.

Prior thereto, Ms. Wu was a Senior Associate with RSM Canada LLP, providing public accounting services through a Canadian member firm of RSM International, a global network of independent audit, tax and consulting firms with more than 41,000 people in over 120 countries. Ms. Wu graduated from the University of Guelph with a Bachelors of Commerce in Management Economics in 2007 and received her CPA, CGA designations in 2015.

The Company also announces the resignation of Mr. David L. Wood from the Board of Directors. The Company would like to thank Mr. Wood for his significant contributions over the many years he was a Director of the Company and wishes him continued success with his other business endeavors.

"We very much welcome Mr. Swanberg to the Board of Directors as an independent director, and Ms. Wu to our management team" said Thomas Smeenk, President & CEO. "I know I speak for the whole company when I say a heart felt thank you to David Wood for his many contributions over the years."

ABOUT HEMOSTEMIX INC.

Hemostemix is a publicly traded autologous stem cell therapy company. A winner of the World Economic Forum Technology Pioneer Award, the Company developed and is commercializing its lead product ACP-01 for the treatment of CLI, PAD, Angina, Ischemic Cardiomyopathy, Dilated Cardiomyopathy and other conditions of ischemia. ACP-01 has been used to treat over 300 patients, and it is the subject of a randomized, placebo-controlled, double blind trial of its safety and efficacy in patients with advanced critical limb ischemia who have exhausted all other options to save their limb from amputation.

On October 21, 2019, the Company announced the results from its Phase II CLI trial abstract presentation entitled "Autologous Stem Cell Treatment for CLI Patients with No Revascularization Options: An Update of the Hemostemix ACP-01 Trial With 4.5 Year Follow up" which noted healing of ulcers and resolution of ischemic rest pain occurred in 83% of patients, with outcomes maintained for up to 4.5 years.

The Company owns 91 patents across five patent families titled: Regulating Stem Cells, In Vitro Techniques for use with Stem Cells, Production from Blood of Cells of Neural Lineage, and Automated Cell Therapy.

For more information, please visit www.hemostemix.com.
Contact: Thomas Smeenk, President, CEO & Founder
[email protected]
905-580-4170

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

Forward-Looking Statements

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," and similar expressions, or that events or conditions "will," "would," "may," "could," or "should" occur. Although Hemostemix believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of Hemostemix management on the date such statements were made. By their nature forward-looking statements are subject to known and unknown risks, uncertainties, and other factors which may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the Company's ability to fund operations and access the capital required to continue operations, the Company's stage of development, the ability to complete its current CLI clinical trial, complete a futility analysis and the results of such, future clinical trials and results, long-term capital requirements and future developments in the Company's markets and the markets in which it expects to compete, risks associated with its strategic alliances and the impact of entering new markets on the Company's operations. Each factor should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Hemostemix expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise. Additional information identifying risks and uncertainties are contained in the Company's filing with the Canadian securities regulators, which filings are available at www.sedar.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54314

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