BURNABY, BC, Nov. 6 /CNW/ - Welichem Biotech Inc. (the "Company") (TSX-V:
WBI), held its Annual and Special General Meeting on October 28, 2008 at which
five Directors were elected to the Board. Shareholders re-elected York Ying
Ping Guo and Wenfeng Liu as directors. New directors elected for the coming
year were Dr. Tan Xiangdong, Yi Meilin and Frank Li.
Dr. Tan is currently also the Chairman of Beijing Yingrebao Investments
and is responsible for managing funds of over 30 billion RMB. Dr. Tan was the
Hebei provincial governor of the Industrial & Commercial Bank of China and a
member of the Board of Governors of Shenzhen Stock Exchange from 1996 - 2004.
Dr. Tan was the Chairman of Beijing United Securities and Baoren Asset
Management. Dr. Tan earned his Ph.D. in economics from Xiamen University,
China in 1999.
Mr. Yi serves as a financial and investment advisor for Portfolio
Strategies Co. and Asset Plus Financial Services Inc. (from 2002 to present).
Mr. Yi was a trade and investment representative for the government of China
from 1991 to 2001. Mr. Yi obtained his B.A. in Economics from the University
of Business and Economics (China).
Mr. Li serves as the Sales Manager of Golden Maple Leaf Enterprises Inc.
Mr. Li served on the senior management of Ocean Knight (USA) Shipping Inc. and
the China National Packaging Import and Export Corporation between 2002 -
2005. Mr. Li holds a B.A. (Economics) from the University of International
Trade and Finance (China).
The Company wishes to thank the retiring directors for their
contributions and guidance during their tenure.
The Company's rolling stock option plan which reserves for issuance as
options a maximum of 10% of the issued common shares from time to time was
also approved at the meeting. The shares under this option plan are reserved
for issuance to employees, directors, officers and consultants; subject to
TSX-Venture regulatory approval.
For a more complete business and financial profile of the Company,
interested parties are encouraged to visit the Company's website,
www.welichem.com.
About Welichem Biotech Inc.
Welichem Biotech Inc. is a publicly-traded biotechnology company
developing therapeutic drugs in the fields of autoimmune diseases and cancer.
ON BEHALF OF THE BOARD
Tan Xiangdong, Chairman of the Board
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news
release. This press release contains forward-looking statements that include
our belief as to the potential of our products. Certain risks and
uncertainties such as our ability to successfully commercialize the products
could cause the Company's actual results to differ materially from those in
the forward-looking statements.
%SEDAR: 00021386E
