Oxygen Biotherapeutics Inc.

EANS-Adhoc: Oxygen Biotherapeutics Announces Dismissal of Chris J. Stern as CEO and Appointments of Michael B. Jebsen as Interim CEO and Rene Eckert as Interim Chairman. -Oxygen Biotherapeutics to reschedule its 2011 General Annual Meeting of ...

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this

MORRISVILLE, NC, August 24, 2011— The Board of Directors of Oxygen
Biotherapeutics, Inc. (NASDAQ & SIX Swiss Exchange: OXBT) today announced that
Chris J. Stern is no longer Chief Executive Officer and Chairman of the company,
effective immediately. Due to the circumstances surrounding his dismissal, Mr.
Stern will not be paid any severance in connection with the termination of his
employment or his departure from the Board.

Oxygen Biotherapeutics has named Michael B. Jebsen as interim Chief Executive
Officer.  He will retain his positions as Chief Financial Officer and Treasurer.
 Mr. Jebsen has served as Oxygen´s Chief Financial Officer, Secretary and
Treasurer since August 2009 and has a thorough understanding of Oxygen´s
day-to-day business operations, overall strategic plan and financial situation. 
The Board of Directors is confident that Mr. Jebsen can lead Oxygen through a
smooth transition until a permanent Chief Executive Officer is appointed.  

"We will move swiftly, but deliberately, in our search for a new CEO," said Rene
Eckert, interim Chairman of the Board.  "We are fortunate to have Michael and
believe that he has the knowledge, ability and sound judgment to lead our
company during this transition period.  Our Board remains in strong support of
the company and we believe we have the products and technology needed to advance
the company to success."

"In light of our recent June financing we are in a stable financial position to
pursue our development programs and move forward," added Mr. Jebsen, Oxygen´s
interim Chief Executive Officer.  "I look forward to continue working closely
with our dedicated employees and the Board to execute our strategies and achieve
our goals."

In connection with these events, the company´s General Annual Meeting of
Shareholders for fiscal year 2011 has been postponed one week.  It will now
occur on September 30, 2011. The record date for the meeting will remain August
19, 2011. Specific details will be provided in the definitive proxy statement
that will be mailed to shareholders of record.

The company is scheduled to report its first quarter fiscal year 2012 financial
results on September 14, 2011.

end of ad-hoc-announcement
Mr. Jebsen first joined Oxygen as its Accounting Manager in April 2009, and was
elected Chief Financial Officer, Executive Vice President Finance and
Administration, Corporate Secretary and Treasurer in August 2009.  Before
joining Oxygen, he was an auditor with Grant Thornton, LLP from July 2003
through December 2005 and from April 2008 through April 2009. In addition, Mr.
Jebsen held various positions, including Chief Ethics Officer, Senior Internal
Auditor, and Senior Financial Analyst with RTI International, a non-profit
research and development organization, from January 2006 to February 2008. Mr.
Jebsen holds a Master of Science in Accounting from East Carolina University and
is a Certified Public Accountant, licensed in North Carolina. 

Mr. Eckert has served as a director of Oxygen Biotherapeutics since October
2009.  He was Chairman and Chief Executive Officer and a partner at Boehme
Filatex, Inc. of Reidsville, NC, from 1981 to 2007.  He started the specialty
chemical company with two partners in 1981.  They formed the company into a
leading North American textile chemical corporation with subsidiaries in Canada
and Mexico.  In 2007, the corporation was sold to Dystar, an international
dyestuff company.

About Oxygen Biotherapeutics, Inc. 

Headquartered in Morrisville, NC, Oxygen Biotherapeutics, Inc. is developing
medical and cosmetic products that efficiently deliver oxygen to tissues in the
body. The company has developed a proprietary perfluorocarbon (PFC) therapeutic
oxygen carrier product called Oxycyte® that is being formulated for both
intravenous and topical delivery. The company has commercialized its DERMACYTE®
line of oxygen-rich skin care products. In addition, the company is focused on
perfluorocarbon-based oxygen carriers for use in traumatic brain injury,
decompression sickness, personal care, and topical wound healing. More
information is available at www.oxybiomed.com or www.DermacyteUS.com. 

Caution Regarding Forward-Looking Statements 
This news release contains certain forward-looking statements by the company
that involve risks and uncertainties and reflect the company’s judgment as of
the date of this release. These statements include the management transition,
and expansion of research and development of the Oxycyte product line, including
the timing of the introduction of these new products. The forward-looking
statements are subject to a number of risks and uncertainties including matters
beyond the company’s control that could lead to delays in new product
introductions and customer acceptance of these new products, and other risks and
uncertainties as described in our filings with the Securities and Exchange
Commission, including in the current annual report on Form 10-K filed on July
15, 2011. The company disclaims any intent or obligation to update these
forward-looking statements beyond the date of this release. This caution is made
under the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. 

Further inquiry note:
Ellen Corliss	
Vice President, Corporate Communications 	
& Investor Relations			
Oxygen Biotherapeutics, Inc	
One Copley Pkwy, Suite 490	
Morrisville, NC 27560		
Direct Telephone: +1 919 855 2112			
Direct Fax: +1 919 806 4417	
Email: e.corliss@oxybiomed.com

end of announcement                               euro adhoc 

issuer:      Oxygen Biotherapeutics Inc.
             2530 Meridian Pkwy 
             US-27713 Durham, NC
phone:       +1(919)7607606
FAX:         +1(419)7108764
mail:     c.stern@oxybiomed.com
WWW:      www.oxybiomed.com
sector:      Biotechnology
ISIN:        US69207P2092
indexes:     SSIRT
stockmarkets: Nasdaq: New York, Main Standard: SIX Swiss Exchange 
language:   English

Weitere Meldungen: Oxygen Biotherapeutics Inc.

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