eFoodSafety.com, Inc. Changes Name to Nuvilex, Inc.,
Reflecting New Strategic Direction of Company
Expands New Management Team and Board of Directors
Expected Launch of Nuvilex.com Reflects Company's Vision
Cherry Hill, NJ March 18, 2009 eFoodSafety.com, Inc. (OTCBB: EFSF.OB), an
emerging healthcare consumer products company with a portfolio of aesthetic,
dermatology, environmental and nutraceutical products, today announced that it has
changed its name from eFoodSafety.com, Inc. to Nuvilex, Inc. The Company is also
announcing its expanded management team and Board of Directors. Nuvilex will begin
trading under its new stock ticker symbol, OTCBB: NVLX.OB, as of the market open on
March 18, 2009.
Nuvilex better defines the Company and its mission. The name is a combination of several
important ideas: New, Vitality and Excellence. The Board of Directors, along with
Management, is committed to a new corporate vision, strategy, performance based
execution and drive towards profitability. Vitality describes the energy, excitement and
good health our products will bring to our customers' lives. Excellence is our commitment
to the high standards of care we will deliver to our valued customers, employees, the
communities we live in and our shareholders.
Martin Schmieg, Chairman and Chief Executive Officer commented, “Since announcing
the merger between eFoodSafety.com and Freedom2, we have talked openly about our
vision for the future of the now merged company. We have taken the time to review and
understand the performance and value of our technology platforms, product pipelines and
marketing programs. From this review, we have provided general financial guidance for
the 2010 fiscal year, which ends April 30, 2010. We have engaged advertising, branding,
communications and marketing experts to look at the Company and its product lines to
improve their visibility, revenue performance and future profitability. All of these actions
have been a buildup to where we are today. Today, we are a new company Nuvilex. We
are pleased and excited to announce our new name, as well as our newly assembled
management team and Board of Directors.”
The Nuvilex management team consists of: Martin Schmieg, Chairman and Chief
Executive Officer; Blair Barnes, Senior Vice President and Chief Financial Officer; Robert
Bowker, President of Knock-Out Technologies, Ltd.; Richard Goldfarb, M.D., F.A.C.S.,
President of MedElite, Inc.; Christine Solari, Senior Vice President of Research,
Development and Manufacturing; Peter Morello, Ph.D, Director of Research, Steven
Kushner, Ph.D, Nutritional Consultant and Ron Kennedy, Controller. Management bios
can be found on the Company's website at www.nuvilex.com.
Mr. Schmieg stated, “In combining the management teams of eFoodSafety and Freedom2,
we have assembled an outstanding team of people with a deep level of expertise across
many disciplines strategy, research and development, medical, operations, business
development, marketing, sales and finance. The team's experience and talent will play a
critical role in our growth as we seek to build a successful and profitable company.”
Martin Schmieg, Chairman, will lead Nuvilex' Board of Directors which will include, from
eFoodSafety.com, Robert Bowker, Richard M. Goldfarb, M.D., F.A.C.S., and Timothy
Matula. Robert Creeden, Managing Director of the Partner's Innovation Fund, will join,
with Blair Barnes, Chief Financial Officer, to round out the current Board. Nuvilex now
has 6 directors, 2 of whom are independent. The Company is engaged in a search to find
an additional independent director who would ideally bring broad consumer marketing
experience to the Board.
“Our new board, drawn from the worlds of finance, medical and holistic research, aesthetic
and consumer products is well suited to make the necessary decisions for Nuvilex' success
in 2009 and into the future,” commented Mr. Schmieg.
As previously announced, the Company engaged Iridium Group to develop a new brand
identity for the company. Nuvilex' new website can be found at www.nuvilex.com.
Mr. Schmieg commented, “Our new website reflects the newness and vitality of our
recently merged company. The website will be updated often and, much like Nuvilex itself,
will continue to build off of a strong base.”
Our name change will officially take place on March 18, 2009. On that date, Nuvilex will
trade under the ticker OTCBB: NVLX.OB. Most quotation services will redirect
eFoodSafety.com inquiries to the new symbol. The cusip number has changed along with
the name. The new cusip number is 67090R100. Existing and outstanding
eFoodSafety.com stock certificates will continue to be recognized as valid.
About Nuvilex, Inc.
Nuvilex, formerly known as eFoodSafety.com, is an emerging healthcare consumer
products company with a portfolio of aesthetics, dermatology, environmental and
nutraceutical products. The company's focus is on developing, licensing and
commercialized healthcare products that address the health needs of consumers worldwide.
In March 2009, Nuvilex acquired Freedom2, Holdings, Inc., a diversified skin products
technology company serving the fast-growing body art, aesthetic, cosmetic and skin
therapy markets. More information about Nuvilex is available at www.nuvilex.com.
Safe Harbor for Public Companies
Statements contained in this release that are not strictly historical are “forward-looking
statements.” Such forward-looking statements are sometimes identified by words such as
“intends,” “anticipates,” “believes,” “expects,” and “hopes.” The forward-looking
statements are made based on information available as of the date hereof, and the Company
assumes no obligatio n to update such forward-looking statements. Editors and investors are
cautioned that such forward-looking statements involve risks and uncertainties that could
cause the Company's actual results to differ materially from those in these forward-looking
statements. Such risks and uncertainties include, but are not limited to, demand for the
Company's products and services, our ability to continue to develop markets, general
economic conditions, our ability to secure additional financing for the Company and other
factors that may be more fully described in reports to shareholders and periodic filings with
the Securities and Exchange Commission.
Investor Relations Contacts:
Blair Barnes
Senior Vice President and Chief Financial Officer
Nuvilex, Inc.
Ph: 856-433-6088
Email: bbarnes@nuvilex.com
Stephanie Carrington/Amy Glynn
The Ruth Group
Ph: 646-536-7017/7023
Email: scarrington@theruthgroup.com
Email: aglynn@theruthgroup.com
Press Contact:
Pat Arcand
Arcand & Madison
Ph: 617-576-7777
Email: pat@am-pr.com
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