VITALITY BIOPHARMA, INC. (OTCMKTS:VBIO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02

Effective January 24, 2019, the Board of Directors (the “Board”) of Vitality Biopharma, Inc. (the “Company”) increased the size of the Board from five (5) to six (6) directors and appointed Richard Celeste as a director to fill the vacancy on the Board created by the increase in the size of the Board, to serve until the next annual meeting of the Company’s stockholders and thereafter until his successor has been duly elected and qualified, or until his earlier resignation or removal. The Board has determined that Mr. Celeste is “independent” as contemplated by governing laws and applicable regulations, including Rule 10A-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Mr. Celeste was appointed to the Compensation Committee and Nomination and Corporate Governance Committee of the Board. Mr. Celeste will receive compensation from the Company in the amount of $36,000.00 annually for his service on the Board.

Mr. Celeste is Chair of the Board of Health Effects Institute (Boston), Founding Chair and Member of the Board of the US Olympic Museum (Colorado Springs) and Vice Chair of the Board of Global Communities (Silver Spring MD). In addition, Mr. Celeste serves on the Boards of Battelle for Kids (Columbus OH) and The Gates Family Foundation (Denver). Mr. Celeste served as the Director of the Peace Corps from 1979-1981, as Governor of Ohio from 1983 to 1991, and as the United States Ambassador to India from 1991 to 2001. Mr. Celeste also served as the President of Colorado College from 2002-2011. The Board believes Mr. Celeste’s fundraising and regulatory insight and public service experience, will provide the Company a critical voice and perspective as the Company continues to develop its business and grow its operations.

On January 24, 2019, the Company issued a press release announcing Mr. Celeste’s appointment to the Board. A copy of the press release is furnished with this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

The information in this Item 7.01 and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such filing.

Vitality Biopharma, Inc. Exhibit
EX-99.1 2 ex99-1.htm   Vitality Biopharma Appoints Former Ohio Governor Richard F. Celeste to Board   LOS ANGELES,…
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About VITALITY BIOPHARMA, INC. (OTCMKTS:VBIO)

Vitality Biopharma, Inc., formerly Stevia First Corp., is engaged in the development of cannabinoid prodrug pharmaceuticals. The Company unlocks the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. Its product pipeline includes cannabosides, VITA-100 and VITA-210. Cannabosides are cannabinoid glycoside prodrugs. VITA-100 is an oral cannabinoid formulation containing cannabosides that is being developed for treatment of inflammatory bowel disease, epilepsy, schizophrenia, and other disorders. VITA-210 is a cannabinoid glycoside prodrug being developed primarily for treatment of pain and muscle spasticity in multiple sclerosis and in rare white matter disorders. The Company’s facilities include laboratories and a manufacturing suite for good manufacturing practices (GMPs) production, which will be used for pharmaceutical-grade production of products to be tested in clinical trials.