ChroMedX Announces Appointment of Ash Kaushal as President and CEO

TORONTO, ONTARIO / ACCESSWIRE / July 26, 2016 / ChroMedX Corp. (CSE: CHX) (OTC: MNLIF) (FSE: EIY2) (the “Company”), a developer of in vitro diagnostics and Point-of-care Testing (POCT) technologies is pleased to announce the appointment of Ash Kaushal as the Company’s new President and CEO, effective immediately.

Mr. Kaushal has over 25 years of experience in product development in the medical, defence, safety and nuclear industries. Mr. Kaushal has held Vice President and senior level management positions with several Canadian and British corporations throughout his career including NIR Science Corp and NIR Diagnostics Corp in Campbellvile, Ontario, CME Telemetrix in Waterloo, Indal Technologies in Mississauga, Ontario and several companies based in England, UK. Mr. Kaushal has developed handheld products from initial concept right through to FDA submission. In these positions he had responsibility for research, engineering, quality assurance and clinical trials.

Mr. Kaushal will be responsible to lead, co-ordinate and oversee the complete development of the HemoPalm product line and other medical device products that his team is pursuing.

“The board is delighted to welcome Ash as President and CEO. Ash’s experience and expertise have benefited the Company’s development initiative immensely and we look forward to the results of his expanded role and leadership with ChroMedX,” said George Langdon, Chairman and Director, ChroMedX Corp.

“I am pleased with this opportunity to lead ChroMedX in its development of the HemoPalm platform. HemoPalm has significant competitive advantages over the current POCT devices on the market, for example, HemoPalm is positioned to be the only hand-held POCT analyzer that combines Blood Gas & Electrolytes with CO-oximetry; the leading hand-held Blood Gas & Electrolytes analyzers CANNOT provide CO-oximetry. My focus will be to prioritize completion of the HemoPalm breadboard device so we can commence testing of the disposable cartridges, and then focus on developing the prototype analyzer.” said Ash Kaushal, President and CEO, ChroMedX Corp.

Mr. Kaushal takes over from Wayne Maddever at a critical stage in the Company’s development of a fully operational prototype of its patent-protected HemoPalm technology. Mr. Maddever has stepped down as an officer and director of ChroMedX Corp. and the Company expresses its gratitude for his work with ChroMedX Corp. since its inception in 2013.

About ChroMedX Corp.

ChroMedX Corp. is a medical technology company focused on the development of novel medical devices for in vitro diagnostics and point-of-care testing. The devices are protected by the Company’s issued and pending patents dealing with blood collection, analysis, and plasma/serum processing.

Follow ChroMedX Corp.:

Website: www.chromedx.com
Facebook: facebook.com/chromedxcorp
Twitter: www.twitter.com/Chromedxcorp

Investor Enquiries:

Shawn Overton
d. 647-528-9344
o. 647-872-9982 ext. 2
TF. 1-844-247-6633 ext. 2
soverton@ChroMedX.com

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com

SOURCE: ChroMedX Corp.

ReleaseID: 442841