Velan announces the resignation of CFO effective May 20, 2022

Velan announced that Benoit Alain has informed the Company of his decision to resign as Chief Financial Officer, for personal reasons.
Velan has commenced a search to identify the Company’s next CFO.
Mr. Alain will remain in his role until May 20, 2022 to leave only after the release of the financial statements for the fiscal year ending on February 28, 2022.
“On behalf of Velan, I want to thank Benoit for giving sufficient time for the Company to search for a new CFO and to assure a smooth transition. I thank him for the expertise he shared with us during his tenure at Velan,” said Bruno Carbonaro, Velan’s Chief Executive Officer.
“I would like to thank Velan for the opportunity I was given to discover this extraordinary company and its employees. Upon reflection, I realized that my professional interests are not in the strictly financial field, and this is the only reason for my departure. Of course, I want the company not to suffer from my departure and will therefore ensure the verification of the financial statements of the current fiscal year as well as the transition to my successor.” said Mr. Alain.