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CLX Medical, Inc. Announces Appointment of CEO Vera Leonard to Board of Directors Ms. Leonard Also Files Form 4 on Common Stock Acquisition MURRIETA, CA--(MARKET WIRE)--Oct 2, 2008 -- CLX Medical, Inc. (OTC BB:CLXN.OB - News), which is
focused on the marketing and distribution of unique medical
diagnostic
testing products, today announced that in concert with the
terms of her
three year employment agreement with the company, Chief
Executive Officer
Vera Leonard has been appointed to the CLX Medical Board
of Directors. The appointment will be reported in a Current Report on Form 8-K expected to be filed with the Securities and Exchange Commission later today. Ms. Leonard is also expected to file a Form 4 Statement of Change in Beneficial Ownership of Securities with the Securities and Exchange Commission reflecting the acquisition of restricted common stock granted as part of her compensation package. A link to the company's SEC filings can be found in the "Corporate" section of the CLX Medical website, www.clxmedical.com. Ms. Leonard's compensation package includes a combination of a base salary, a schedule of salary increases based on a variety of factors including the company's revenue and profit performance, the granting of restricted common stock, medical coverage, and expense reimbursements. Ms. Leonard's full employment agreement, which includes the condition that she will serve on the Board of Directors through the term of the agreement, will be filed as an exhibit to the company's annual report for the fiscal year ending September 30, 2008. The employment contract was executed as CLX prepares to close the acquisition of ThyroTest®, a rapid thyroid stimulating hormone (TSH) screening device used for the detection of hypothyroidism in adults, a common thyroid disease. On September 9, 2008, CLX Medical entered into a product purchase agreement with ThyroTec, LLC, the developer of the ThyroTest® device, pursuant to which CLX Medical will acquire from ThyroTec the exclusive, worldwide rights to ThyroTest®. In addition to working to close the transaction, Ms. Leonard and CLX Medical management is focused on the execution of a post-acquisition marketing and distribution plan for ThyroTest®. "I am pleased to join the Board of Directors as we chart the future of CLX Medical and implement our strategy for the successful marketing and distribution of the ThyroTest® product," stated Ms. Leonard. "There is much to be accomplished, but we are confident that the development of revenues from worldwide sales of ThyroTest® and additional products that may be distributed in the future will ultimately be reflected in the value of the company's stock. For this reason, I am also pleased to report acquisition of restricted common stock as part of my compensation package." ThyroTest® is FDA cleared and has also achieved CLIA waived status, so the test can be administered in the more than 100,000 CLIA waived doctor's offices in the U.S., as well as in any non-waived laboratory. The simple rapid diagnostic test is a qualitative measurement that allows physicians to screen adult patients for hypothyroidism in approximately ten minutes with a whole blood sample. To sign up to receive information by email directly from CLX Medical, Inc. when new press releases, investor newsletters, SEC filings, or other information is disclosed, please visit http://www.clxinvestments.com/email.php. About CLX Medical, Inc. CLX Medical, Inc. (www.clxmedical.com) holds a 51% equity interest in Zonda, Inc. (www.zondaincusa.com), which has developed several rapid point-of-care tests for medical and non-medical markets, including a rapid test for chlamydia. CLX has also entered into a definitive agreement to acquire ThyroTest®, a rapid thyroid stimulating hormone (TSH) screening device used for the detection of hypothyroidism in adults, a common thyroid disease. CLX Medical is focused on the successful worldwide distribution of these and any additional products it may acquire or license. All statements included in this release, including statements regarding potential future plans and objectives of CLX Medical, Inc. are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond CLX Medical's control. There can be no assurance that such statements will prove accurate. Actual results and future events could differ materially from those anticipated in such statements depending on many factors. Historical results are not necessarily indicative of future performance. Contact: Contact:
Gemini Financial Communications, Inc.
A. Beyer
951-677-8073
Email Contact
Source: CLX Medical, Inc.
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