NOKOMIS, Fla.--(BUSINESS WIRE)--Rainbow Coral Corp. (OTCBB:RBCC), an emerging distributor of live coral resources, today appointed seasoned executive Patrick Brown to the post of President and CEO.
Over the past two decades, Brown has worked as an executive and financial consultant for growth-oriented start-up companies in the U.S. and abroad. Brown’s background in finance and his leadership experience with emerging companies has prepared him to implement new plans for the rapid expansion of Rainbow Coral’s business.
“Wild coral can no longer meet commercial demand, and that opens up what we believe to be a very fruitful opportunity for Rainbow Coral,” Brown said. "We’ve targeted the coral market due to its highly favorable growth projections, and we’ve got the business plan to take full advantage of rising demand for marine products.”
For more information on RBCC’s growth strategy, please visit www.rainbowcoral.com/investors.
RBCC targets innovations for development to compete in technology developed to compete in the biomedical research industry alongside Biogen Idec Inc. (NASDAQ: BIIB), Abbott Laboratories (NYSE: ABT), Smith & Nephew (NYSE: SNN) and Eli Lilly & Co. (NYSE: LLY).
About Rainbow Coral Corporation
Rainbow Coral Corp. is an emerging company dedicated to aggressive growth in the marine resources industry. Our business initiatives include marketing up to 50 different coral species used by scientists, researchers and aquariums worldwide. For more information, please visit our website at www.rainbowcoral.com.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.