ADVANCED MEDICAL ISOTOPE CORPORATION (OTCMKTS:ADMD) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
On December 14, 2016, the Board of Directors (the Board)
of Advanced Medical Isotope Corp. (the Company)
appointed Dr. Carlton Cadwell, D.D.S., a current member of the
Board, as Chairman of the Board and Secretary of the Company. Dr.
Cadwell has served on the Board since 2006.
Also on December 14, 2016, the Board appointed Dr. Michael
Korenko, Ph. D. who formerly served as an advisor to the Board,
as the Companys interim President and Chief Executive Officer,
replacing James Katzaroff. Mr. Katzaroff remains a member of the
Board. A copy of the press release announcing Dr. Cadwell and Dr.
Korenkos appointments is attached to this Current Report on Form
8-K as Exhibit 99.1.
Dr. Michael K. Korenko, age 71, became interim President and
Chief Executive Officer of the Company on December 14, 2016.
Prior thereto, Dr. Korenko servedas an Advisor to the Board of
the Company since 2009 and previously served as member of the
Board from May 2009 to March 2010. Dr. Korenko has also served on
the Hanford Advisory Board since 2009. Dr. Korenko served as
Business Development Manager for Curtiss-Wright from 2006 to
2009, as Chief Operating Officer for Curtiss-Wright from 2000 to
2005 and was Executive Vice President of Closure for Safe Sites
of Colorado at Rocky Flats from 1994 to 2000. Dr. Korenko served
as Vice President of Westinghouse from 1987 to 1994 and was
responsible for the 300 and 400 areas, including the Fast Flux
Testing Facility (FFTF) and all engineering, safety analysis,and
projects for the Hanford site. Dr. Korenko is the author of 28
patents and has received many awards, including the National
Energy Resources Organization Research and Development Award, the
U.S. Steelworkers Award for Excellence in Promoting Safety, and
the Westinghouse Total Quality Award for Performance Manager of
the Year. Dr. Korenko is the co-inventor with AMIC Chief Science
Officer. Dr. Korenko has a Doctor of Science from MIT, was a NATO
Postdoctoral Fellow at Oxford University, and was selected as a
White House Fellow for the Department of Defense, reporting to
Secretary Cap Weinberger.
There are no relationships or related party transactions between
the Company or any of its executive officers or directors and Dr.
Cadwell or Dr. Korenko that would require disclosure under Item
401(d) or 404(a) of Regulation S-K, or arrangements or
understandings in connection with Dr. Cadwell and Dr. Korenkos
appointments not otherwise disclosed in this Current Report on
Item 9.01 Exhibits.
See Exhibit Index.
About ADVANCED MEDICAL ISOTOPE CORPORATION (OTCMKTS:ADMD)
Advanced Medical Isotope Corporation, formerly Savage Mountain Sports Corporation, is a radiation oncology focused medical device company. The Company is engaged in the development of yttrium-90 (Y-90)-based brachytherapy devices for the treatment of non-resectable tumors. Brachytherapy uses radiation to manage cancerous tumors by placing a radioactive isotope inside or next to the treatment area. The Company’s lead product is the Y-90 RadioGel device. The Company is engaged in the development of its brachytherapy products, which includes Y-90 RadioGel device, Y-90 Fast-Resorbable Polymer Seeds and Y-90 Polymer Topical Paste. Y-90 RadioGel device combines Y-90 particles with a polymer carrier that is injected into the tumor. Y-90 Fast-Resorbable Polymer Seeds contains Y-90 within a polymer seed, as opposed to metal or glass. Y-90 Polymer Topical Paste is designed to be applied to tissue surfaces after surgical tumor removals to treat residual tumor cells. ADVANCED MEDICAL ISOTOPE CORPORATION (OTCMKTS:ADMD) Recent Trading Information
ADVANCED MEDICAL ISOTOPE CORPORATION (OTCMKTS:ADMD) closed its last trading session up +0.020 at 0.175 with 225,299 shares trading hands.