Valereum Plc today announced that Nick Cowan will be stepping down as CEO, with immediate effect, following the unsuccessful completion of the DMC deal.

A total of 10,000,000 warrants previously allocated to Nick Cowan have been cancelled.

In addition, Valereum announced a set of proposed appointments. Each appointment is subject to the completion of customary due diligence checks by the Company’s advisers.

• Proposed Appointee 1 – Matthew Ripperger as Non-Executive Director
• Proposed Appointee 2 – Grant Gischen as Non-Executive Director
• Proposed Appointee 3 – John Evans as Board Advisor

There will be further changes to the Board.

Gary Cottle will step up from a Non-Executive Director to Executive Director.

Karl Moss will step down from the Board, but retains his position as Chief Financial Officer.

Peter Sekhon will step down from the Board, and assume responsibility for a new role, Business Development, while continuing his Investor Relations responsibilities.

Valereum will initiate the process of appointing a new Chief Executive Officer and expects to announce a replacement in due course. In the interim, the Board remains focused on executing the Company’s vision and operational priorities.