Advertisement
Separately, effective July 1, 2008, WorldHeart announced that DavidPellone has resigned as an employee of the Corporation, but will continue as aconsultant to the Corporation until approximately September 30, 2008. Asapproved by WorldHeart's Board of Directors, Mr. Pellone will be acting VicePresident, Finance and Chief Financial Officer during his time as aconsultant. The Corporation will commence the process to find a new ChiefFinancial Officer to allow for a smooth transition. The WorldHeart Board andJal S. Jassawalla, WorldHeart's President and Chief Executive Officer, thankDavid for his service, especially his dedication during the recapitalizationefforts recently announced. "We appreciate David's contributions and lookforward to continuing to work with him during this transition period," saidMr. Jassawalla.
Advertisement
About World Heart Corporation
WorldHeart is a developer of mechanical circulatory support systems withbroad-based next-generation technologies. The Company is headquartered inOakland, California, USA with additional facilities in Salt Lake City, Utahand Herkenbosch, The Netherlands. WorldHeart's registered office is Ottawa,Ontario, Canada.
Any forward-looking statements in this release are made pursuant to thesafe harbor provisions of the Private Securities Litigation Reform Act of 1995and include any statements regarding the Corporation's expectations withrespect to submitting a specific plan to achieve and sustain compliance withThe NASDAQ Capital Market listing requirements and the Corporation's abilityto maintain its NASDAQ listing if the plan is not accepted by NASDAQ, as wellas other statements that can be identified by the use of forward-lookinglanguage, such as "believes," "feels," "expects," "may," "will," "should,""seeks," "plans," "anticipates," or "intends" or the negative of those terms,or by discussions of strategy or intentions. Investors are cautioned that allforward-looking statements involve risk and uncertainties, including withoutlimitation: the Corporation's immediate need for additional capital, risks inproduct development and market acceptance of and demand for the Company'sproducts; possible delisting from the NASDAQ Stock Market if compliance withthe listing standards, including the minimum Stockholders' Equity Standard isnot regained; and other risks detailed in the Corporation's filings with theU.S. Securities and Exchange Commission, including without limitation itsAnnual Report on Form 10-KSB for the year ended December 31, 2007.
THIS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICTITATION OFAN OFFER TO BUY ANY SECURITY. THE SHARES OFFERED HAVE NOT BEEN REGISTEREDUNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIESLAWS AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR ANY STATE THEREOFABSE
