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news.Stem Cell Therapeutics, a Canadian biotechnology company, has appointed Barry Herring as its new vice president of finance and CFO. Mark Wayne has resigned as CFO but will remain on the board of directors of SCT as chairman.
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Prior to joining Stem Cell Therapeutics (SCT), Mr Herring was the president, CFO and director of Atlas Minerals. Prior thereto Mr Herring was the CFO of Velo Energy, an oil and gas exploration company.
SCT has issued 800,000 stock options to Mr Herring at an exercise price of C$0.10 per share in connection with his appointment to the executive team. These options will expire no later than January 1, 2014 subject to applicable vesting provisions. These options were awarded in accordance with the corporations stock option plan.
Alan Moore, president and CEO of SCT, said: “We are very excited to add Mr Herring to the SCT executive team. I feel his knowledge and expertise in finance as well as his experience with start-up companies will be a great asset to the company.”