Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > VeruTEK Technologies, Inc. Completes Private Placement, Appoints Three Independent Directors to its Board

Abstract:
VeruTEK Technologies, Inc. (VTKT.OB) announced the completion of a private placement offering whereby the Company sold approximately 1.34 million shares of its common stock plus warrants to purchase approximately 2.7 million additional shares of common stock. VeruTEK raised approximately $2.059 million. The proceeds will be used for working capital to support current growth as well as for other general corporate purposes.

VeruTEK Technologies, Inc. Completes Private Placement, Appoints Three Independent Directors to its Board

BLOOMFIELD, CT | Posted on October 18th, 2007

VeruTEK also announced the appointment of Douglas Anderson as Chairman of its board of directors and Mark Ain and Carlos Naudon as Independent Directors.

Douglas Anderson brings extensive experience in operations, management, finance and M&A to the position. He is the former Chairman, CEO and President of Open Solutions, Inc. (OSI), a leading provider of e-business and software applications for community financial institutions. OSI was acquired in January 2007 by private equity firms The Carlyle Group and Providence Equity Partners. In addition, Mr. Anderson was President of Manchester Savings Bank before it was sold to New Alliance Bank.

Mark Ain is Founder, former CEO and current Executive Chairman of Kronos Incorporated, a human capital management software company that was recently acquired by Hellman and Friedman Capital Partners for $1.8 billion.

Carlos Naudon is the founder, President and Chief Executive Officer of Banking Spectrum, a strategy and compliance consulting company serving the financial services industry. He is also an attorney with Allister and Naudon as well as a retired Certified Public Accountant. Mr. Naudon formerly served as Managing Director of OSI.

"Doug, Mark and Carlos each have a history of helping young companies become highly successful, profitable organizations," said Dr. John Collins, CEO of VeruTEK. "Doug's leadership on the board will be invaluable as VeruTEK continues to grow. Mark and Carlos round out an experienced and prestigious Board of Directors that will help ensure that VeruTEK reaches the next level. We are extremely excited that they have joined the Company."

As part of this growth strategy, VeruTEK co-founder, Senior Vice President and Director of Research and Development, George Hoag, Ph.D., has stepped down from the board effective immediately. Dr. Collins said, "another benefit of adding these tremendous new board members is that it frees George up to focus even more on research and development of new green products and technologies."

####

About VeruTEK Technologies, Inc.
VeruTEK (VTKT.OB) provides proprietary, patent-pending, green nanotechnology solutions for cleaning up the environment. For more information, please visit http://www.verutek.com .

Safe Harbor Statement

The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

For more information, please click here

Contacts:
VeruTEK Technologies, Inc.
Jim Carini

312-953-8319

Copyright © Business Wire 2007

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

TARA Biosystems and Harris & Harris Group Form Company to Improve Safety and Efficacy of New Therapies October 22nd, 2014

7th Nanotechnology Festival, Exhibition Kicks Off Work in Iran October 7th, 2014

Harris & Harris Group Letter to Shareholders on Website August 19th, 2014

Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 August 12th, 2014

Announcements

Nanoparticle technology triples the production of biogas October 23rd, 2014

SUNY Polytechnic Institute Invites the Public to Attend its Popular Statewide 'NANOvember' Series of Outreach and Educational Events October 23rd, 2014

Advancing thin film research with nanostructured AZO: Innovnano’s unique and cost-effective AZO sputtering targets for the production of transparent conducting oxides October 23rd, 2014

Strengthening thin-film bonds with ultrafast data collection October 23rd, 2014

Appointments/Promotions/New hires/Resignations/Deaths

First Canada Excellence Research Chair gets $10 million from the federal government for oilsands research at the University of Calgary: Federal government announces prestigious research chair to study improving oil production efficiency October 19th, 2014

VDMA photonics steering committee with new members stronger than ever October 14th, 2014

Agar Scientific appoints Paul Balaş as new Technical Sales Manager October 3rd, 2014

PEN Inc. Chairman Scott Rickert Announces Company Vision, Product Priorities and Management Team: Webcast Highlights the Launch of PEN October 3rd, 2014

Environment

Iranian, Malaysian Scientists Study Nanophotocatalysts for Water Purification October 23rd, 2014

Imaging electric charge propagating along microbial nanowires October 20th, 2014

Physicists build reversible laser tractor beam October 20th, 2014

Plastic nanoparticles also harm freshwater organisms October 18th, 2014

NanoNews-Digest
The latest news from around the world, FREE





  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE