TSX Venture: QPT
EDMONTON, Jan. 29, 2019 /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 January 28, 2019 annual general and special
meeting of shareholders.
The Company is pleased to announce the following 6 directors
have been elected to the Company's Board of Directors:
Lorne Meikle, BA
J. Mark Lievonen, C.M., FCPA, FCA,
LLD
W. John Meekison, CPA, CMA, P.Log,
CIM
Norma Beauchamp, ICD.D
Shawn Lu, CIM, MFin
Madi R. Madiyalakan, Ph.D.
At the meeting, shareholders also ratified the shareholder
rights plan for the Company adopted by the Board of Directors on
November 27, 2018 and confirmed the
amendment to the by-laws of the Company requiring advance notice to
the Company for nominations of directors by shareholders in
certain circumstances adopted by the Board of Directors on
December 19, 2018.
"We are pleased with the AGM results and wish to thank our
shareholders for their continuing support," said Dr. Madi R.
Madiyalakan, Chief Executive Officer for Quest. "I would also
like to welcome our newly elected Board member, Ms. Beauchamp, who
brings over 3 decades of senior leadership experience in the
corporate and non-profit sectors to her role, including as Chief
Executive Officer of Cystic Fibrosis Canada and also having held
executive positions at Bayer and Sanofi, and can help to guide the
Company as it strives to add shareholder value. With the
strength and experience of our re-elected Board members, Mr.
Meikle, Mr. Lievonen, Mr. Meekison, Mr. Lu and myself, I am
confident that Quest's Board of Directors will be able to help the
Company execute its business strategy to add value for our
shareholders."
Approximately 60,690,000 shares were voted for the Company's
shareholder meeting representing approximately 36% of the Company's
shares eligible to vote. Shareholders' voted 98% in favor of
all meeting resolutions.
On a corporate matter, Quest announces the granting of 1,250,000
stock options to Directors and Officers, all at an exercise price
of $0.18 per common share, expiring
10 years from the date of grant, subject to TSX Venture Exchange
approval.
About Quest PharmaTech Inc.
Quest PharmaTech is a publicly traded, Canadian based
biopharmaceutical company (QPT:TSX-V) developing products to
improve the quality of life. The Company through its subsidiary,
OncoQuest and its Chinese joint venture, OncoVent, is developing
antibody-based immunotherapeutic products for cancer. 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 through its subsidiary,
Madenco Biosciences, is developing pharmaceutical products for
dermatology and wound healing applications. Quest, through its
ownership interest in OncoCare Therapeutics, is developing an
antibody licensed from University of
Nebraska, AR 9.6 mAb against truncated O-glycan on MUC16,
for targeted cancer therapy applications. To learn more, visit
www.questpharmatech.com
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.