Veltex Corporation Announces the Appointment of Luba Andrus, RPh., M.J. to the Board of Directors

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Aug 05, 2019, 09:29 ET

CHICAGO, Aug. 5, 2019 /PRNewswire/ -- Veltex Corporation – OTC Markets symbol (VLXC) Veltex Corporation ("Veltex") announces the appointment of Luba Andrus, RPh., M.J. to the Board of Directors.

Luba Andrus has more than 30 years of executive, operational, and retail leadership experience in both the pharmaceutical and cannabis industries, including owning co-founder and principal of two medical marijuana dispensaries in Illinois.

Prior to entering the medical cannabis industry, she owned and operated numerous retail pharmacies which were ultimately sold to a Resurrection hospital system. Later she recognized the growing needs for pharmacy support within the long-term care industry and served as Director of Outpatient Services and then Chief Operating Officer for long-term care pharmacy provider Omnicare. Her responsibilities included quality control, reduction of medication errors, patient safety, and ensuring customer satisfaction. In 2016 she founded Medication Therapy Management, to provide comprehensive educational services specializing in the application of medical cannabis.

Luba serves on the board of directors for several medical cannabis dispensaries, CBD companies and national addiction organizations. She was a member of several pharmaceutical company advisory boards and continues to serve the patient community within various organizations.

A registered pharmacist, Luba earned her pharmacy degree from the University of Illinois College of Pharmacy and a Master of Jurisprudence in Health Law from Loyola University School of Law in Chicago, specializing in eldercare.

"Luba is a pioneer in the behavioral healthcare services industry, and we are excited to welcome her to Veltex's board of directors," said Andreas Mauritzson, Veltex's President and CEO. "We believe her strong experience, especially in the pharmaceutical area of opioid rehabilitation and building a global business will be extremely valuable as Veltex seeks to identify value creation opportunities, achieve outstanding performance and maximize shareholder value."

"We conducted an exhaustive search for someone who would further strengthen our board's breadth of talent and background, and we are delighted to have identified such an outstanding individual," said R. Preston Roberts, Veltex's chairman. "I'm confident that Luba is going to make an important and positive impact on our company. The addition of Dr. Harry Haroutunian and Luba Andrus as new directors complements our board of directors' skills and experiences, and we are confident they will provide valuable perspectives as we continue to execute our strategy, drive profitability and enhance value for all Veltex's shareholders. We look forward to their contributions and are excited they chose Veltex."

With the appointment of Ms. Andrus, Veltex's board consists of 7 members, including: R. Preston Roberts, Chairman, Andreas Mauritzson, Dr. Harry Haroutunian, Stephen G. Macklem, Kenneth Demaree and Robert Fletcher.

About Veltex

Veltex's corporate strategy is the development and acquisition of companies which have established or advanced the latest modalities in the areas of health, wellness, and recovery. Veltex has begun and will continue to assemble a team of experts in these fields and will take a multi-tiered approach including joint ventures and collaboration agreements.

Veltex will begin acquiring existing addiction treatment facilities and cutting-edge recovery programs. The company will brand a superior model for inpatient and outpatient addiction treatment including, but not limited to alcohol and drug treatment, gambling, gaming and eating disorders. Veltex will identify companies doing vanguard research into the development and distribution of restorative brain health products designed to maximize the potential for successful recovery from addiction and depression.

Veltex Corporation was formed as a publicly traded corporation in the State of Utah in 1987. The common stock is listed for trading on the OTC Markets under the symbol "VLXC." The principal executive offices are located at 123 West Madison Street, Suite 1500, Chicago, Illinois 60602.

Safe Harbor Statement

Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Veltex or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe Veltex's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.

SOURCE Veltex Corporation