Daniel Desjardins is appointed as a director of Velan

MONTREAL, April 25, 2024 /CNW/ - Velan Inc. ("Velan") (TSX: VLN) today announces that its Board of Directors has appointed Mr. Daniel Desjardins as an independent director of Velan.

"Mr. Desjardins is an experienced director and lawyer, who has a background in risk management and international operations that will enrich our board's skillset and his appointment is in line with the succession plan. We welcome him to the board with enthusiasm," commented Mr. James Mannebach, the Chair and CEO of Velan.

About Mr. Daniel Desjardins

Mr. Daniel Desjardins, Ad.E, is a member of the Board of Directors of Transat A.T. Inc., the Chair of its Risk Committee and a member of its Audit Committee since 2022. Mr. Desjardins was member of the Board of Directors and a member of the Audit Committee and Independent Committee of Noranda Income Fund until March 2023, following the privatization of the Fund. Mr. Desjardins is an accomplished business lawyer and executive with extensive expertise in business law, compliance and risk management as well as decades of experience in financing and complex mergers and acquisitions at Bombardier Inc., a company with a global footprint. For more than 20 years, until December 2019, Mr. Desjardins was Senior Vice-President, General Counsel and Corporate Secretary at Bombardier In this role, he was responsible for legal affairs, compliance, internal audit, insurance and risk management for the entire company. From 2018 to January 2021, he served as Chair of the Board of Directors of Bombardier Transportation. Prior to joining Bombardier, Mr. Desjardins was a partner at a Quebec law firm for 15 years. He began his career at National Bank of Canada. He has been Chair of the Board of the Legal Leaders for Diversity Trust Fund since 2014 and is Chair of the Board of the Pointe-à-Callière Museum. Mr. Desjardins has received numerous professional awards and has twice been named one of Canada's 25 most influential lawyers. In 2017, the Barreau du Québec awarded him the Advocatus Emeritus distinction in recognition of his exceptional professional career. Mr. Desjardins holds a law degree from the Université de Montréal and a Master of Laws degree from McGill University.

About Velan Inc.

Founded in Montreal in 1950, Velan Inc. is one of the world's leading manufacturers of industrial valves. Velan Inc. is a family-controlled public company, employing approximately 1,650 people with manufacturing facilities in 9 countries. Velan Inc. is a public company with its shares listed on the Toronto Stock Exchange under the symbol VLN.

Caution Regarding Forward-Looking Statements

Certain statements made in this news release may constitute forward-looking information or forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements with respect to the future plans of Velan and other statements that are not material facts. Often, but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "believe", "estimate", "plan", "could", "should", "would", "outlook", "forecast", "anticipate", "foresee", "continue" or the negative of these terms or variations of them or similar terminology.

The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties are disclosed in the Company's filings with the appropriate securities commissions. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Readers are cautioned not to place undue reliance on the forward-looking statements and information contained in this news release. All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.

SOURCE Velan Inc.

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