LAVAL, QC, ROCKVILLE, MD and CAMBRIDGE, United Kingdom, June 19, 2019 /CNW Telbec/ - Prometic Life
Sciences Inc. (TSX: PLI) (OTCQX: PFSCF) ("Prometic" or
the "Corporation") announced the voting results from its
2019 Annual General and Special Meeting of Shareholders
("AGM") held in Montreal,
Quebec. A total of 16,792,591,957 common shares were voted,
representing 81.04% of the votes attached to the issued and
outstanding common shares of Prometic.
Directors
The following Directors were elected to hold offices until the
Corporation's next annual meeting of shareholders or until their
successors are elected or appointed:
Name of
Nominee
|
Votes
For
|
Votes
Withheld
|
|
#
|
%
|
#
|
%
|
Simon G. Best, Lead
Independent Director
|
16,728,666,243
|
99.83
|
27,934,841
|
0.17
|
Stefan V. Clulow,
Chair of the Board
|
16,734,303,991
|
99.87
|
22,297,093
|
0.13
|
Kenneth
Galbraith
|
16,739,015,483
|
99.90
|
17,585,601
|
0.10
|
Gary J.
Bridger
|
16,739,454,207
|
99.90
|
17,146,877
|
0.10
|
Neil A.
Klompas
|
16,740,432,806
|
99.90
|
16,168,278
|
0.10
|
Zachary J.
Newton
|
16,737,582,720
|
99.89
|
19,018,364
|
0.11
|
Timothy S.
Wach
|
16,739,799,987
|
99.90
|
16,801,097
|
0.10
|
Auditors
Ernst & Young LLP, the Corporation's auditors, was not
reappointed given their non-audit business relationship with a
corporation under common control with Structured Alpha LP,
Prometic's principal and controlling shareholder.
PricewaterhouseCoopers LLP was duly elected as auditors until the
next annual meeting of shareholders of the Corporation or until
their successors are appointed.
Omnibus Incentive Plan
Shareholders also approved the Omnibus Incentive Plan. This
long-term incentive plan permits the grant of stock options,
restricted share units and performance share units to directors,
executive officers, employees and consultants of the Corporation
and its subsidiaries.
Share Consolidation
The amendment to the articles of the Corporation was approved so
as to consolidate all of the issued and outstanding common
shares of the Corporation, on the basis of a consolidation ratio to
be selected by the Board of Directors within a range between seven
hundred fifty (750) pre-consolidation common shares for one (1)
post-consolidation common share and one thousand two hundred fifty
(1250) pre-consolidation common shares for one (1)
post-consolidation common share, effective as at the discretion of
the Board of Directors and subject to TSX approval, provided that
such date shall be before June 20,
2020.
Detailed voting results for the 2019 AGM are available on SEDAR
at www.sedar.com.
About Prometic Life Sciences
Prometic (www.prometic.com) is an innovative biopharmaceutical
corporation with a broad pipeline of small molecule therapeutics
under development to treat unmet needs in patients with liver,
respiratory and kidney disease, including rare diseases. Prometic's
differentiated research involves the study of a new antifibrotic
pathway involving two G-protein-coupled-receptors, GPR40 and GPR84.
These drug candidates have a dual mode-of-action as agonists
("stimulators") of GPR40 and antagonists ("inhibitors") of GPR84.
Our lead drug candidate, PBI-4050, is expected to enter Phase 3
clinical studies for the treatment of Alström Syndrome in 2019. A
second drug candidate, PBI-4547, is expected to enter Phase 1
clinical studies in 2019. Prometic also has leveraged its
experience in bioseparation technologies to isolate and purify
biopharmaceuticals from human plasma. The lead plasma-derived
therapeutic product is Ryplazim™ (plasminogen) which the Company
expects to file a BLA with the US FDA in 2019 seeking approval to
treat patients with congenital plasminogen deficiency. The
Corporation also operates a contract development and manufacturing
operation in the United Kingdom,
deriving revenue through sales of affinity chromatography media.
Prometic has active business operations in Canada, the United
States, the Isle of Man and
the United Kingdom. For more
information, please visit www.prometic.com.
Forward Looking Statements
This press release contains forward-looking statements about
Prometic's objectives, strategies and businesses that involve risks
and uncertainties. These statements are "forward-looking" because
they are based on our current expectations about the markets we
operate in and on various estimates and assumptions. Actual events
or results may differ materially from those anticipated in these
forward-looking statements if known or unknown risks affect our
business, or if our estimates or assumptions turn out to be
inaccurate. Such risks and assumptions include, but are not limited
to, Prometic's ability to develop, manufacture, and successfully
commercialize value-added pharmaceutical products, the availability
of funds and resources to pursue R&D projects, the successful
and timely completion of clinical studies, the ability of Prometic
to take advantage of business opportunities in the pharmaceutical
industry, uncertainties related to the regulatory process and
general changes in economic conditions. You will find a more
detailed assessment of the risks that could cause actual events or
results to materially differ from our current expectations in
Prometic's Annual Information Form for the year ended December 31, 2018, under the heading "Risk and
Uncertainties related to Prometic's business". As a result, we
cannot guarantee that any forward-looking statement will
materialize. We assume no obligation to update any forward-looking
statement even if new information becomes available, as a result of
future events or for any other reason, unless required by
applicable securities laws and regulations.
SOURCE ProMetic Life Sciences Inc.