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Message: New Chief Financial Officer

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New Chief Financial Officer

posted on Jan 12, 09 08:44AM

January 12, 2009

Stem Cell Therapeutics Corp. Announces Appointment of Barry Herring as New Chief Financial Officer

CALGARY, ALBERTA--(Marketwire - Jan. 12, 2009) - Stem Cell Therapeutics Corp. ("SCT") (TSX VENTURE:SSS) today announced that Mr. Barry Herring has been appointed as the new Vice President of Finance and Chief Financial Officer (CFO), effective January 1, 2009. Mr. Mark Wayne has resigned as CFO but will remain on the Board of Directors of SCT as Chairman.

Mr. Herring has 25 years experience as an accounting executive for companies in Canada and the United States. He has been a senior executive in public and private corporations within the energy and mining sector. Prior to joining SCT, Mr. Herring was the President, CFO and Director of Atlas Minerals Inc. Prior thereto he was the CFO of Velo Energy Ltd., a start-up Oil and Gas Exploration Company. He has served as Vice President of Finance and CFO for the following companies, TerraWest Energy Corp., Hawker Resources Inc., and Southward Energy Ltd.

Mr. Herring became a Chartered Accountant in 1983 from the Institute of Chartered Accountants of Alberta. He started his career in accounting in 1981 at Price Waterhouse. In 1987, Mr. Herring joined Oakwood Petroleum and worked as a corporate accountant until joining Calpine Natural Gas Ltd. in 1989 where he held increasingly senior positions until his departure in 2001.

In addition to his corporate experience, Mr. Herring has taught accounting and tax at the post secondary level and chaired several committees on Information Systems development and implementation.

Dr. Alan Moore, President and CEO of SCT commented as follows:

"We are very excited to add Mr. Barry Herring to the SCT executive team. I feel his knowledge and expertise in finance as well as his experience with start-up companies will be a great asset to the Company."

SCT has issued 800,000 stock options to Mr. Herring at an exercise price of C$0.10 per share in connection with his appointment to the Executive team. These options will expire no later than January 1, 2014 subject to applicable vesting provisions. These options were awarded in accordance with the Corporations Stock Option Plan.

About Stem Cell Therapeutics Corp.: Stem Cell Therapeutics Corp. is a Canadian public biotechnology company (TSX VENTURE:SSS) focused on the development and commercialization of drug-based therapies to treat central nervous system diseases. SCT is a leader in the development of therapies that utilize drugs to stimulate a patient's own resident stem cells. The Company's programs aim to repair neurological function lost due to disease or injury. SCT's extensive patent portfolio of owned and licensed intellectual property supports the potential expansion into future clinical programs in numerous neurological diseases such as traumatic brain injury, multiple sclerosis, Huntington's disease, Alzheimer's disease, ALS.