Click to access Status_Quo_Order%206.21.2103_wLogo.pdf
Las Vegas, NV, June 20, 2013 – CardioVascular BioTherapeutics, Inc. (CVBT) announced today that the Delaware Court of Chancery ruled that the CVBT Interim Board of Directors, consisting of Mickael A. Flaa, Grant Gordon, Calvin A. Wallen III, Jon Ross, and Robert Schleizer, will remain in place as the CVBT Board of Directors pending resolution of the lawsuit filed on June 9, 2013, by Mickael A. Flaa in that Court. The Delaware lawsuit seeks, among other things, to confirm the validity of the June 7, 2013, removal of Daniel C. Montano, John (Jack) Jacobs, Ernest C. Montano, Viktoriya T. Montano, Ernest Montano III, and Joong Ki Baik from the CVBT Board of Directors. Pending resolution of the lawsuit, or further order of the Court, the authority of the CVBT Interim Board of Directors will be limited by a status quo order, which has not yet been entered.
About CardioVascular BioTherapeutics
CVBT is a biopharmaceutical company developing drug candidates with FGF-1 as its active pharmaceutical ingredient (API) for diseases characterized by inadequate blood flow to tissue or organs. The company is the sponsor of a Phase II trial to treat severe coronary heart disease (CVBT-141H), and has received FDA authorization for a Phase I trial to treat peripheral arterial disease (CVBT-141C). A Late-Stage trial to treat chronic diabetic foot ulcers (CVBT-141B) is planned pending FDA approval.
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CVBT Shareholders 