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Last $1.20 USD
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RBCL On Other Exchanges
As of 8:10 PM 06/25/15 All times are local (Market data is delayed by at least 15 minutes).

rbc life sciences inc (RBCL) Key Developments

RBC Life Sciences, Inc. Approves Resignation of Robert A. Kaiser as a Director

RBC Life Sciences Inc. approved resignation of Robert A. Kaiser as a director of the company at annual meeting of shareholders on June 24, 2015. Kaiser served as chair of the audit committee and as member of the compensation committee.

RBC Life Sciences Inc., Annual General Meeting, Jun 24, 2015

RBC Life Sciences Inc., Annual General Meeting, Jun 24, 2015., at 10:00 Central Standard Time. Location: 2301 Crown Court. Agenda: To elect two persons to serve as Class II directors of the company until the earlier of the 2018 Annual Meeting of Shareholders, their successors are duly elected and qualified, or their resignation or removal from office; to ratify the appointment of Lane Gorman Trubitt, PLLC as the company's independent registered public accounting firm for the fiscal year ending December 31, 2015; and to transact such other business as may properly come before the meeting or any adjournment thereof.

RBC Life Sciences Inc. Announces Executive Changes

RBC Life Sciences Inc. announced that effective January 1, 2015, the board of directors of the company appointed Mr. Steven E. Brown, to serve as the company's chief executive officer and president. Prior to this appointment, Mr. Brown served as the company's president. In his capacity as CEO, Mr. Brown replaces Clinton H. Howard, whose resignation as CEO became effective January 1, 2015. Mr. Howard will continue to serve as the company's chairman of the board.

RBC Life Sciences Inc. Announces Executive Changes

Effective September 26, 2014, Mr. Kevin B. Young resigned his position as Vice President - Sales of RBC Life Sciences Inc. to participate in the Company's network marketing distribution system as an independent Associate. Mr. Young's duties will be assumed by Mr. Barton R. Dangerfield, Vice President - Marketing, until a replacement for Mr. Young is found. On September 26, 2014, the Board of Directors of the company appointed Ms. Daley L. Seeker, to serve as the company's Vice president - Finance, Chief Financial Officer, Treasurer and Secretary effective October 6, 2014. Ms. Seeker will join the Company on October 6, 2014 having held various positions, most recently as an Assurance Supervisor, in the Assurance Practice of McGladrey LLP, from 2011 to present. From 2010 until 2011, Ms. Seeker served as a Staff Auditor for the accounting firm of Gindler, Chappell, Morrison & Co., PC, and from 2008 to 2010, as an Audit Associate with McGladrey.

RBC Life Sciences Inc. Enters into Two-Year Exclusive Distributorship Agreement with Coral Club International, Inc

On August 22, 2014, RBC Life Sciences Inc. entered into a two-year exclusive distributorship agreement effective as of August 1, 2014 with Coral Club International, Inc. This Agreement replaces a ten-year exclusive distributorship agreement between the parties that automatically renewed for a one-year term following expiration of the initial term on July 1, 2014. CCI is the company's principal licensee and accounted for virtually all of the company's licensees' net sales in the six months ended June 30, 2014 and 2013, respectively. Pursuant to the Agreement, CCI's exclusive territory includes Russia and other countries located primarily in Europe and Central Asia, which represents an expansion of the territory set out in the Former Agreement. In consideration of the rights granted to CCI under the Agreement, CCI is required to purchase certain minimum amounts of products from the Company each year, which minimum amounts are consistent with the Former Agreement. Under the Former Agreement, CCI was required to pay the company a monthly royalty calculated as a percentage of its sales of the company's products. Under the Agreement, in lieu of a royalty, the prices at which products are sold to CCI were marked up as of the effective date of the Agreement to include the royalty so that no additional royalty will be due upon the sale of the company's products by CCI. To affect the transition of royalty calculations under the Former Agreement and the Agreement, the company will recognize on a one-time basis royalty revenue of approximately $476,000 in the third quarter of 2014.


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