Full Press Release Details
ChromaDex Announces Closing of Third and Final Tranche of
$25 Million Strategic Investment Led by Mr. Li Ka-shing
Appoints Two Additional Board Members
-Company Appoints Wendy Yu and Tony Lau to Board of
IRVINE, Calif., Aug. 21, 2017
ChromaDex Corp. (NASDAQ: CDXC), an
innovator of proprietary health, wellness and nutritional
ingredients that creates science-based solutions for dietary
supplement, food and beverage, skin care, sports nutrition, and
pharmaceutical products, announced today the closing of the $5.1
million third and final tranche of the $25 million strategic
investment led by Hong Kong business leader Mr. Li Ka-shing. In
connection with such transactions, Champion River Ventures Limited
nominated Mr. Tony Lau to the Board of Directors and Pioneer Step
Holdings Limited nominated Ms. Wendy Yu to the Board of Directors.
The Board of Directors subsequently appointed Mr. Lau and Ms. Yu as
directors on August 18, 2017.
$5.1 million third and final tranche was approved by stockholders
at a special meeting held on August 10, 2017 and follows the second
$16.4 million tranche that closed on May 24, 2017 and the initial
$3.5 million tranche that closed on April 27, 2017.
has been building the consumer and retail segment at Horizons
Ventures since 2014.
has served as Chief Digital Officer of Horizons Digital Group since
July 2012. Ms. Yu oversees marketing and communications for
Horizons Ventures as well as helping on the Asia expansion for
Horizons portfolio companies.
Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann
Financial Services Inc. (NYSE MKT:LTS), is acting as exclusive
placement agent in the private placement.
shares of common stock being sold in the private placement will not
have been registered under the Securities Act of 1933, as amended
(the Act ). Accordingly, such shares may not be
offered or sold in the United States except pursuant to an
effective registration statement or an applicable exemption from
the registration requirements under the Act. Additional
details about the transaction are included in a Form 8-K filed by
ChromaDex concurrently with this release.
ChromaDex leverages its complementary business units to discover,
acquire, develop and commercialize patented and proprietary
ingredient technologies that address the dietary supplement, food,
beverage, skin care and pharmaceutical markets. In addition to our
ingredient technologies unit, we also have business units focused
on natural product fine chemicals (known as "phytochemicals"),
chemistry and analytical testing services, and product regulatory
and safety consulting. As a result of our relationships with
leading universities and research institutions, we are able to
discover and license early stage, IP-backed ingredient
technologies. We then utilize our in-house chemistry, regulatory
and safety consulting business units to develop commercially viable
ingredients. Our ingredient portfolio is backed with clinical and
scientific research, as well as extensive IP protection. Our
portfolio of patented ingredient technologies includes
nicotinamide riboside;
pterostilbene; PURENERGY ,
a caffeine-pTeroPure co-crystal; IMMULINA ,
a spirulina extract; and AnthOrigin ,
anthocyanins derived from a domestically-produced, water-extracted
purple corn. To learn more about ChromaDex, please visit
Forward-Looking Statements:
release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities and Exchange Act of 1934, as
amended, including statements related to the skills and experience
of Mr. Lau and Ms. Yu. Statements that are not a description of
historical facts constitute forward-looking statements and may
often, but not always, be identified by the use of such words as
"expects", "anticipates", "intends", "estimates", "plans",
"potential", "possible", "probable", "believes", "seeks", "may",
"will", "should", "could" or the negative of such terms or other
similar expressions. More detailed information about ChromaDex and
the risk factors that may affect the realization of forward-looking
statements is set forth in ChromaDex's Annual Report on Form 10-K
for the fiscal year ended December 31, 2016, ChromaDex's Quarterly
Reports on Form 10-Q and other filings submitted by ChromaDex to
the SEC, copies of which may be obtained from the SEC's website at
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof,
and actual results may differ materially from those suggested by
these forward-looking statements. All forward-looking statements
are qualified in their entirety by this cautionary statement and
ChromaDex undertakes no obligation to revise or update this release
to reflect events or circumstances after the date
ChromaDex Investor Relations Contact:
Johnson, Director of Investor Relations
ChromaDex Public Relations Contact:
Ostendorf, Director of Marketing