Spectral Medical Inc. Announces Results of Annual and Special Meeting of Shareholders
June 08 2023 - 3:00PM
Spectral Medical Inc. (
"Spectral" or the
"Company")
(TSX: EDT), a late-stage
theranostic company advancing therapeutic options for sepsis and
septic shock, today announced the results of its Annual and Special
Meeting of shareholders (the "
Shareholders") held
on June 7, 2023 (the "
Meeting"). The Company
confirms that all resolutions put forward in the Management
Information Circular dated May 5, 2023 (the
"
Circular") to its Shareholders were approved,
other than the proposed share consolidation.
Results of the matters voted on at the Meeting
are set out below.
Election of Directors
Spectral's seven director nominees were
elected:
Nominee |
Votes For (percent) |
Votes Withheld (percent) |
Anthony Bihl III |
56.14% |
43.86% |
Jan D'Alvise |
65.61% |
34.39% |
Jun Hayakawa |
70.22% |
29.78% |
John Nosenzo |
56.51% |
43.49% |
Chris Seto |
56.40% |
43.60% |
William Stevens |
64.55% |
35.45% |
Paul Walker |
86.29% |
13.71% |
Appointment of Auditors
PricewaterhouseCoopers LLP, Chartered
Accountants, was re-appointed as auditor of Spectral.
Votes For: 93.77%Votes Withheld: 6.23%
Adoption of Omnibus Long Term Incentive
Plan
A resolution approving the re-adoption of the Corporation’s
omnibus long term incentive plan, as more particularly described in
the Circular was passed.
Votes For: 55.48%Votes Against: 44.52%
Approval of Consolidation
A special resolution authorizing the future
amendment of the articles of the Company to consolidate all of the
Company's issued and outstanding common shares, as more
particularly described in the Circular, was not approved.
Votes For: 60.05%Votes Against: 39.95%
About Spectral
Spectral is a Phase 3 company seeking U.S. FDA
approval for its unique product for the treatment of patients with
septic shock, Toraymyxin™ (“PMX”). PMX is a
therapeutic hemoperfusion device that removes endotoxin, which can
cause sepsis, from the bloodstream and is guided by the Company’s
Endotoxin Activity Assay (EAA™), the only FDA cleared diagnostic
for the risk of developing sepsis.
PMX is approved for therapeutic use in Japan and
Europe, and has been used safely and effectively on more than
340,000 patients to date. In March 2009, Spectral obtained the
exclusive development and commercial rights in the U.S. for PMX,
and in November 2010, signed an exclusive distribution agreement
for this product in Canada. In July 2022, the U.S. FDA granted
Breakthrough Device Designation for PMX for the treatment of
endotoxemic septic shock. Approximately 330,000 patients are
diagnosed with septic shock in North America each year.
Spectral is listed on the Toronto Stock Exchange
under the symbol EDT. For more information, please
visit www.spectraldx.com.Forward-looking
statement
Information in this news release that is not
current or historical factual information may constitute
forward-looking information within the meaning of securities laws.
Implicit in this information, particularly in respect of the future
outlook of Spectral and anticipated events or results, are
assumptions based on beliefs of Spectral's senior management as
well as information currently available to it. While these
assumptions were considered reasonable by Spectral at the time of
preparation, they may prove to be incorrect. Readers are cautioned
that actual results are subject to a number of risks and
uncertainties, including the availability of funds and resources to
pursue R&D projects, the successful and timely completion of
clinical studies, the ability of Spectral to take advantage of
business opportunities in the biomedical industry, the granting of
necessary approvals by regulatory authorities as well as general
economic, market and business conditions, and could differ
materially from what is currently expected.
The TSX has not reviewed and does not accept
responsibility for the adequacy or accuracy of this statement.
For further information, please contact:
Ali MahdaviCapital Markets & Investor RelationsSpinnaker
Capital Markets Inc.416-962-3300am@spinnakercmi.com |
David Waldman/Natalya RudmanUS Investor RelationsCrescendo
Communications, LLC212-671-1020edt@crescendo-ir.com |
Blair McInnisCFOSpectral Medical
Inc.416-626-3233bmcinnis@spectraldx.com |
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