Biotricity expands team with new CFO as it prepares for commercialization

October 27, 2017 | BY BIOTRICITY

REDWOOD CITY, Calif., Oct. 27, 2017 (GLOBE NEWSWIRE) — Biotricity Inc. (BTCY), a medical diagnostic and consumer healthcare technology company dedicated to delivering innovative, biometric remote monitoring solutions, today announced it has appointed John Ayanoglou as its new Chief Financial Officer (CFO), effective immediately. Mr. Ayanoglou will help establish formal financial processes and accelerate Biotricity’s go-to-market strategy. He will report to Biotricity Founder and CEO Waqaas Al-Siddiq and serve as a member of the company’s Leadership Team.

“John’s impressive financial background encompasses both the private sector and public markets,” noted Al-Siddiq. “His diverse experience includes successfully building out and formalizing finance departments, raising capital, and structuring financing to facilitate production for inventory. We are excited to welcome someone of John’s caliber to our team, as we prepare to commercialize our Bioflux solution into the rapidly expanding diagnostic healthcare markets.”

Mr. Ayanoglou comes to Biotricity with nearly 30 years of accounting, finance, and operations experience. Previously, he served as CFO of several publicly traded companies, including Equitable Group Inc, and its regulated financial institution subsidiary. In that role, Mr. Ayanoglou raised over $130 million of regulatory capital in common, preferred, and debenture offerings over successive transactions, all during a period of extreme capital market turbulence, which helped grow assets under administration from $6.1 billion to over $10 billion. These key successes helped facilitate Equitable Bank in becoming Canada’s ninth largest bank.

He was also the Chief Financial Officer and Corporate Secretary of Xceed Mortgage Corporation, where he partnered with an entrepreneurial top team to grow the business through the successful implementation of warehouse financing lines and other securitization programs including public term securitizations of over $700 million.

About Biotricity Inc.

Biotricity is a modern medical technology company focused on delivering innovative, remote biometric monitoring solutions to the medical and consumer markets, including diagnostic and post-diagnostic solutions for chronic conditions and lifestyle improvement. Biotricity’s R&D continues to focus on the preventative healthcare market, with a vision of putting health management into the hands of the individual. The company aims to support the self-management of critical and chronic conditions with the use of innovative solutions to ease the growing burden on the healthcare system. To learn more, visit www.biotricity.com or follow on: Twitter: @biotricity_inc Facebook: facebook.com/biotricity/ or LinkedIn: linkedin.com/company/biotricity-measuring-vitals

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Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “should,” “would,” “will,” “could,” “scheduled,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “seek,” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the design, development and commercialization of Bioflux or any of the Company’s other proposed products or services, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company’s future financial performance, (iv) the regulatory regime in which the Company operates or intends to operate and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company’s current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company’s inability to obtain additional financing, the significant length of time and resources associated with the development of its products and related insufficient cash flows and resulting illiquidity, the Company’s inability to expand the Company’s business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company’s failure to implement the Company’s business plans or strategies. These and other factors are identified and described in more detail in the Company’s filings with the SEC. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.