TSX Venture: QPT
EDMONTON, Feb. 15, 2017 /CNW/ - Quest PharmaTech Inc.
(TSX-V: QPT) ("Quest" or the "Company"), a pharmaceutical company
developing and commercializing products to improve the quality of
life, today announced the results of its February 9, 2017 annual general meeting of
shareholders.
The Company is pleased to announce the following 5 directors
have been re-elected to the Company's Board of Directors:
Lorne Meikle, BA
Ian McConnan, FCA,
Eric Shi, MD, Ph.D.
Shawn Lu, MBA, Mfin, CIM, CCA
Madi R. Madiyalakan, Ph.D.
Mr. Meikle, Mr. McConnan and Dr. Shi are all independent
directors. Mr. Meikle is the Chairman of the Board. Mr.
McConnan is Chair of the Audit Committee. Dr. Shi is Chair of
the Corporate Governance Committee and Mr. Lu is Chair of the
Compensation Committee.
"We wish to thank our shareholders for their continuing
support," said Dr. Madi R.
Madiyalakan, Chief Executive Officer for Quest. With
the strength and experience of our re-elected Board members, I am
confident that Quest's Board of Directors will be able to help the
Company execute its business strategy to add value to our
shareholders."
Approximately 74,500,000 shares were voted for the Company's
shareholder meeting representing 49.5% of the Company's shares
eligible to vote. Shareholder's voted 99% in favor of all
meeting resolutions.
In addition, the Company announced the granting of 600,000 stock
options to Directors and 650,000 stock options to Officers, all at
an exercise price of $0.15 per common
share, subject to TSX Venture Exchange approval.
About Quest PharmaTech Inc.
Quest PharmaTech is a
publicly traded, Canadian based pharmaceutical company developing
products to improve the quality of life. The Company through its
subsidiary, OncoQuest is developing antibody based
immunotherapeutic products for cancer. In addition, the
Company owns the Photodynamic Therapy technology for oncology and
dermatology applications, licensed to BioCeltran Co., Ltd., a Korea
based company (Bioceltran). Quest has an ownership interest
in Bioceltran which is focused on SP Technology™ for transdermal
delivery of drugs and photosensitizers for pharmaceutical and
cosmetic purposes. Quest also markets consumer health products
worldwide, including Bellus Skin™ serum, a premium anti-wrinkle
skin care product licensed from a company in South Korea.
Quest is also developing an antibody licensed from University of Nebraska, Mab AR 9.6 against
truncated O-glycan on MUC16, for targeted cancer therapy
applications.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Quest PharmaTech Inc.