On September 29, 2022, the Board of Directors of Novelstem International Corp. (the Company) elected Mr. Jan Loeb, its current chairman, as Principal Executive Officer. Mr. Loeb, 63, has more than 40 years of business, money management and investment banking experience.

He has served as Chairman of the Company's Board since July 2018. He has been the Managing Member of Leap Tide Capital Management LLC since 2007 and has served as President and CEO of Acorn Energy Inc. since January 2016 and as a Director since August 2015. He has been a Director of Keweenaw Land Association Ltd. From 2005 to 2007, Mr. Loeb was President of Leap Tide's predecessor, formerly known as AmTrust Capital Management Inc. He served as a Portfolio Manager of Chesapeake Partners from February 2004 to January 2005 and as Managing Director at Jefferies & Company Inc. from 2002 to 2004.

From 1994 to 2001, he served as Managing Director at Dresdner Kleinwort Wasserstein Inc. (formerly Wasserstein Perella & Co. Inc.). Mr. Loeb was a Lead Director of American Pacific Corporation from 2013 to 2014 and a director from 1997 to 2014.

He also served as an Independent Director of Pernix Therapeutics Holdings Inc. (formerly, Golf Trust of America Inc.) from 2006 to 2011 and as a Director of TAT Technologies Ltd. from 2009 to 2016.