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ChromaDex Announces Appointment Of Barry Honig, Michael Brauser And William Spengler To Its Board Of Directors

Stocks in this article: CDXC

IRVINE, Calif., Oct. 20, 2011 /PRNewswire/ -- ChromaDex® Corporation (OTCBB: CDXC), the creator of pTeroPure®, today announced that it has appointed Barry Honig, Michael Brauser and William Spengler to its Board of Directors. Mr. Honig and Mr. Brauser will serve as co-chairmen of the board.

Barry Honig is a specialist in corporate finance and structuring.  He currently serves as Chairman of InterCLICK (ICLK), a $150 million NASDAQ company.  Since its inception in June 2007, Mr. Honig has been instrumental in growing the company's annual revenues from $3 million to over $125 million. Since 2003, Mr. Honig has served as a consultant to numerous emerging growth companies in all stages of the corporate lifecycle, from startup through IPO/APO. His expertise includes capital restructuring, debt financing, capital introductions, and mergers and acquisitions. Since 2004 he has been the President and founder of GRQ Consultants Inc., an investor and consultant to early-stage companies. From 1998 to 2001, he worked at Ramius Capital, trading in distressed equities, arbitrage, long/short and other specialized trading strategies.   Mr. Honig graduated from George Washington University with a degree in Economics.

Michael Brauser currently serves as Chairman of InterCLICK. He previously served as Chairman of the Board of Directors of SendTec, Inc. from October 2005 to November 2006. Prior to that, Mr. Brauser was the founder, President and CEO of Marlin Capital Partners, a private investment company. From 1999 to 2002, he served as President and Chief Executive Officer of Naviant, Inc. (eDirect, Inc.), an Internet marketing company. He also was the founder of Seisint Inc. (eData.com, Inc.) and served as a member of its Board of Directors from 1999 to 2003.

William Spengler, President of ChromaDex, is a seasoned pharmaceutical and consumer products executive with more than 30 years of senior management experience. Prior to joining ChromaDex, Mr. Spengler served as Executive Vice President, Chief Financial Officer ("CFO") and Treasurer of Smith & Wesson Holding Corp. Mr. Spengler has held various other executive and management positions during his career, including Executive Vice President and CFO of MGI PHARMA, Inc., a leading publicly traded specialty pharmaceutical company, where he played an integral role in securing the company's multibillion-dollar merger agreement with Eisai Pharmaceuticals. He also served as Executive Vice President and CFO of Guilford Pharmaceuticals, Inc., a publicly traded biotechnology company, where he was instrumental in a number of financing and license transactions, as well as the development of Guilford's merger agreement with MGI in 2005. Mr. Spengler currently serves as a Director at Endo Pharmaceuticals.

"We are very pleased to have Barry, Mike and Bill join our board," stated Frank Jaksch, CEO of ChromaDex. "As co-chairs, Mike and Barry's experience of successfully helping emerging growth companies adds substantial depth to our team as we continue to capitalize on numerous high-growth opportunities. Having Bill, President of ChromaDex and a highly experienced business professional, now join our board as well even further strengthens the Company's position. With a strong team in place, the commercialization of pTeroPure, including the launch of our first retail brand, BluScience, underway, and other exciting prospects in the pipeline, we are confident in our ability to rapidly grow long-term shareholder value."  

About ChromaDex®

ChromaDex® is an innovative natural products company that provides proprietary, science-based solutions and ingredients to the dietary supplement, food & beverage, cosmetic and pharmaceutical industries. The company has an impressive pipeline of new ingredients, including its pTeroPure® pterostilbene for which it has worldwide, exclusive patent rights. www.ChromaDex.com

Forward-Looking Statements

Any statements that are not historical facts contained in this release are forward-looking statements. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements involve risks and uncertainties, including but not limited to those relating to product and customer demand, market acceptance of our products, the effect of economic conditions both nationally and internationally, ability to protect our intellectual property rights, impact of any litigation or infringement actions brought against us, competition from other providers and products, risks in product development, our ability to raise capital to fund continuing operations, the ability to complete transactions, and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made except as required by law.

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