(MENAFNEditorial) WEST PALM BEACH, FL / ACCESSWIRE / April 26, 2018 / Kyto BioPharma Inc. ("KBPH") (OTCQB: KBPH) is pleased to announce that it has effected an Initial Closing on its Private Offering of Preferred Shares with Warrants to Accredited Investors as a non-brokered Private Placement ("Private Placement").
KBPH will file today an S-8 Registration Statement with the SEC to offer to the new elected President & CEO, an option to purchase 2,697,085 Common Shares of KBPH.
Kyto Biopharma Inc, effective today, is changing its name to Kyto Technology and Life Science, Inc. The symbol, KBPH, will be changed to a symbol as agreed to by OTCQB.
Effective today, the officers and directors of KBPH are:
Name Position(s)
Paul Russo
President & Chief Executive Officer, Director
Georges Benarroch
Corporate Secretary & Treasurer, Director, Chairman
Paul Russo
Dr. Russo is a long-time angel investor, a Board Advisor to BWG, LLC and is the Founder & and a Director of GEO Semiconductor ( www.geosemi.com ) since 2014, after having served as Chairman & CEO from its founding in 2008. Dr. Russo also serves as a Director of InBay ( www.inbaytech.com ), Semplus ( www.sempluscorp.com ), WOO Sports ( www.woosports.com ) and several other technology ventures (Dynamount, Illuminati, Thrive, and other technology start-ups). Dr. Russo is heavily involved with the Band of Angels which reviews over 600 start-ups' business plans per year. Dr. Russo has served as an outside director of ATI Technologies from 2001 through its acquisition by AMD in 2006.
Prior to founding GEO Semiconductor, Dr. Russo founded Silicon Optix in 2000, a privately held fabless semiconductor company, serving as its Chairman & CEO through 2008. Prior to Silicon Optix, Dr. Russo was the founder, Chairman and CEO of Genesis Microchip (acquired by ST Micro in 2007) following its successful NASD IPO.
Prior to founding Genesis, he was General Manager of General Electric Microelectronics Center, Senior Manager of General Electric Industrial Electronics Group and Head, Microsystems Research at RCA's David Sarnoff Research Center. While at RCA, Dr. Russo worked on the world first CMOS microprocessor and pioneered the first use of microprocessors in global communications, programmable video games, TV manufacturing automation and automotive engine control.
Dr. Russo received his B.Eng. from McGill University (Canada) and his M.Sc. and Ph.D. in EECS from UC Berkeley. He holds eight U.S. patents, is a fellow of IEEE and has received numerous RCA and industry awards, including the IEEE Centennial Medal and the 2006 Tech Pioneer Award from the World Economic Forum.
Georges Benarroch
Mr. Benarroch is a private investment banker and has been the President and Chief Executive Officer of Kyto BioPharma Inc. since 2001. For the last 30 years, in select international capital markets, he has successfully invested in, financed and sponsored a wide range of companies, a number of which he served as Director, through his firms. Mr. Benarroch was also the Founder and Chairman for 10 years of multi-billion dollar asset management companies such as InterUnion Financial Corp. Georges Benarroch is currently the Founder & CEO of Comindus Finance Corp. (U.S.A.) and Comindus Finance Inc. (Canada).
Mr Benarroch graduated from Faculté de Droit de Toulouse (France), received a B.Sc. from the University of Montreal (Canada), an M.Sc. from the Institut des Hautes Etudes Internationales (France) and an M.Sc. from Institut du Droit de la Paix et du Development Economique, Faculte de Droit de Nice (France) and Doctorat de Droit International (3e Cycle) Paris (France).
Since 1988, Georges Benarroch has been an early investor in most of Dr. Russo's ventures, in particular, Genesis Microchip (where he served as a director for a few years), Silicon Optix and GEO Semiconductor.
KBPH
Kyto Technology and Life Science Inc. provides advisory services, including management skills, and acts as "angel investor" for early-stage technology and biotechnology companies.
Forward-Looking Statements
Note: This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain. Kyto Technology and Life Science. Inc. cannot provide assurances that the matters described in this press release will be successfully completed or that the company will realize the anticipated benefits of any transaction. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: global economic and market conditions; the war on terrorism and the potential for war or other hostilities in other parts of the world; the availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management's ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; the company's ability to retain key management and employees; intense competition and the company's ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirements and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in Kyto Technology and Life Science Inc. SEC filings. Kyto Technolgy and Life Science Inc. undertake no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with Kyto Technology and Life Science Inc.'s business, please refer to the risks and uncertainties detailed from time to time in Kyto Technology and Life Science Inc.'s SEC filings
This release does not constitute an offer for sale of securities.
For further information please contact
Kyto Technology and Life Science Inc.
Mr. Paul Russo
CEO
Cell: +1 408 605-7695
SOURCE: Kyto BioPharma Inc.
MENAFN2604201800703708ID1096776980
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.