Highmark Marketing Inc. has appointed Dr. Dmytro P. Yevtushenko, PhD, as scientific adviser.
Dr. Dmytro P. Yevtushenko is an accomplished scientist in the area of plant biology and biotechnology. He holds a PhD in cell biology from the Institute of Cell Biology & Genetic Engineering, and an MSc in plant physiology and biochemistry (with distinction) from Kiev State University, Ukraine. Dr. Yevtushenko’s research has focused on crop improvement and food safety using modern techniques of molecular biology, genetic engineering and plant tissue culture. In addition, he has a comprehensive knowledge and interest in metabolic bioengineering, secondary metabolite pathways, gene regulation and bioinformatics.
In Dr. Yevtushenko’s past position as director of research and development at Provitro Biosciences LLC, a plant biotechnology company in Mount Vernon, Wash., United States, he worked on the development and implementation of innovative research programs in plant cell and tissue culture. He previously worked as a research associate in the Centre for Forest Biology and senior scientist at SynGene Biotek Inc., department of biochemistry and microbiology at the University of Victoria, B.C., Canada.
Dr. Yevtushenko is the author of over 50 publications, including research articles published in peer-reviewed scientific journals. He has presented major research achievements at numerous scientific conferences, symposia and meetings. He holds two patents, which are on methods to increase plant yield.
As scientific adviser, Dr. Yevtushenko has agreed to provide Highmark with industry intelligence and updates, and to work closely with management to develop business strategies that take advantage of current and future market opportunities.
According to Health Canada, a licensed producer of marijuana must have an employee designated as a quality assurance person who is responsible for assuring the quality of dried marijuana. Highmark is not a licensed producer of marijuana, but it announced in a news release dated June 24, 2014, that it had entered into a binding letter of intent with BCBUD Producers Inc. to acquire 100 per cent of the authorized share capital of BCBUD. BCBUD has an option to lease a 27,000-square-foot building in the township of Langley, B.C. The property is zoned M-2, and when the facility is operational, it could be capable of producing up to two million grams (4,409 pounds) of medical marijuana per year, with the additional possibility of expansion adjacent to the site. BCBUD has prepared an application to become a licensed producer. It is not known if and when BCBUD will obtain the requisite licence. The key milestones to obtaining the licence include filing an application, receiving a ready-to-build notice, completion of the upgrades as per the application, approval to produce upon inspection of the facility and finally approval to distribute the product to patients. If Highmark does become a licensed producer of marijuana, Dr. Yevtushenko will assist Highmark with fulfilling its quality assurance requirements under the Marihuana for Medical Purposes Regulations (MMPR) program.
In addition, and more specifically, the scientific adviser has agreed to make his knowledge and expertise available to advising Highmark regarding research and development on marijuana and marijuana strains, as well as advising on research and development methods with the view to improving yield. Any research and development concerning marijuana may be subject to necessary governmental approval.
As consideration for services provided, Highmark will grant Dr. Yevtushenko, in accordance with the company’s stock option plan, an incentive stock option to purchase 50,000 common shares in the capital of Highmark.
Highmark looks forward to working with Dr. Yevtushenko and learning from his expertise to further Highmark’s business in the medical marijuana sector.
July 9, 2014, news release
Highmark would also like to revise the news release dated July 9, 2014, which announced the close of the first tranche of a non-brokered private placement. Finders were inadvertently described as agents. All other content of that news release remains unchanged.
We seek Safe Harbor.
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