LAS VEGAS - November 20, 2013 - Broadleaf Capital Partners, Inc. (OTC:BDLF) announced it held its Annual Shareholders Meeting on November 16, 2013.
The meeting, which had been established by proxy, was held in Las Vegas, Nevada, for shareholders of record as of September 18, 2013. Broadleaf shareholders overwhelmingly reelected Charles Snipes and Donna M. Steward as Directors.
In other business the shareholders voted to amend the company's Articles of Incorporation to authorize 100,000,000 preferred shares with the terms and classes of the shares to be designated by the Board of Directors prior to issuance.
The Meeting attendees also participated in an interactive presentation via the internet from Kinam Park, Ph.D., Showalter Distinguished Professor of Biomedical Engineering and Professor of Pharmaceutics at Purdue University. Dr. Park, who is also president of Akina, Inc. explained his patented micro-particle pharmaceutical technology and answered questions from meeting participants.
After the adjournment of the Annual Meeting, the Board met to consider and act on several items of business including;
1. Designating 20,000,000 of the newly authorized preferred shares as "Class A" and setting a price on the class at $0.50 per share; and
2. Authorizing the acquisition of Sustained Release, Inc. for 620,000 of the Broadleaf Class A Preferred shares and directing T. W. Owen to prepare all requisite documentation to complete the acquisition before December 1, 2013; and
3. Directing T. W. Owen to prepare all requisite documentation for a Broadleaf Class A preferred share Private Placement Memorandum to fund Sustained Release, Inc's business plan.
Mike King, President of Broadleaf, stated: "We are pleased that our diligent efforts to widen the scope of Broadleaf’s business activity and revenue base are coming to fruition. Our goal is to enhance shareholder value and we believe that the Sustained Release acquisition will be positive in that regard."
Sustained Release has established a contract with Akina, Inc. relating to extended drug delivery systems.
Over the last two years the pharmaceutical sector has experienced the "patent cliff" wherein they have had major drugs pass out of patent protection without being replaced by an equal amount of newly approved and protected drugs. One of the many advantages of Akina's patent protected technology is that it provides pharmaceutical companies with the ability to dynamically compete with generic versions of their drugs.
Akina, Inc. is a research and development company known for developing unique methods for delivering medications. It was founded in 2001 by Kinam Park, Showalter Distinguished Professor of Biomedical Engineering and Professor of Pharmaceutics at Purdue University.
Akina Is a pioneer in the development of the long-term release microparticle formulations, also referenced as "Sustained Release Formulations", which have release durations ranging from one to eight months, and are designed to replace repeated daily, weekly or monthly administration of drugs for long-term care of diseases and disorders, thereby higher efficacy of the drug.
The Akina microparticles are programmable in release kinetics and ideal for release of active pharmaceutical ingredients for terms ranging from a few weeks to several months. They are inexpensive to produce, readily scalable for mass production, and offer a wide range of clinical applications.
Examples of current microparticle formulations under development at Akina address specific conditions such as macular degeneration, glaucoma, periodontal disease, and inflammation. Akina's hydrogel template method is highly unique in that the process does not include oil/water emulsion, and thus it allows controlled manipulation of the drug/polymer formulation which has not been possible by other methods.
About Broadleaf Capital Partners:
Broadleaf Capital Partners Inc. Inc. (OTC:BDLF) actively identifies and reviews unique and proprietary technologies for investment consideration. Broadleaf seeks such technologies held by emerging or early stage, small to medium-size companies in various fields of business to arrange for capital and provide management support. Our goal is to provide our stockholders capital appreciation and a solid dividend yield.
Learn more about Broadleaf at: http://www.bdlfpartners.com/
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission.
Contacts
Princeton Research, Inc., Las Vegas
Mike King, 702-650-3000
[email protected]
Broadleaf Capital Partners Inc., Las Vegas