TSX Venture: QPT
EDMONTON, AB, July 7, 2021
/CNW/ - Quest PharmaTech Inc. (TSX-V: QPT) ("Quest" or the
"Company") today announced the results of its July 5, 2021 annual general and special meeting
of shareholders.
The Company is pleased to announce the following 4 directors
have been elected to the Company's Board of Directors:
J. Mark Lievonen, C.M., FCPA,
FCA, LLD
Jeffrey Shon, JD
Shawn Lu, CIM, MFin
Madi R. Madiyalakan, Ph.D.
At the meeting, shareholders reappointed the Company's auditors,
Kingston Ross Pasnak, LLP. Shareholders also ratified the
amended and restated shareholder rights plan for the Company
adopted by the Board of Directors on May 26,
2021.
"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 thank our outgoing Board members, Dr. Bin Huang and Mr.
W. John Meekison, for their service,
and welcome our 2 newly elected Board members, Mr. Lievonen and Mr.
Shon, who bring a wealth of pharmaceutical, corporate finance and
securities regulatory experience to the Board". With the
strength and experience of our re-elected Board members, 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 to
our shareholders.
Mr. Lievonen has over 30 years' experience in the
biopharmaceutical industry. From 1999 to 2016, Mr. Lievonen
was the President of Sanofi Pasteur Limited, the Canadian vaccine
division of Sanofi, a global pharmaceutical company. He was
appointed to the Order of Canada
in 2015, named a Chevalier de l'Ordre National de Mérite by the
government of France in 2007, and
was inducted into the Canadian Healthcare Marketing Hall of Fame in
2013. Mr. Shon is the General Partner and Chief Operating
Officer of REDDS Capital, a private venture capital group focused
on emerging technolgies, since 2015. From 2011 to 2015, Mr.
Shon worked as an Analyst, Listed Issuer Services and as a Senior
Manager, Compliance and Disclosure, with the TSX Venture
Exchange.
Approximately 51,850,500 shares were voted for the Company's
shareholder meeting representing approximately 31% of the Company's
shares eligible to vote.
On a corporate matter, Quest announces the granting of 450,000
stock options to Directors, all at an exercise price of
$0.10 per common share, expiring 10
years from the date of grant, subject to TSX Venture Exchange
approval.
About Quest PharmaTech Inc.
Quest PharmaTech Inc is a publicly traded, Canadian based
biopharmaceutical company (TSX-V:QPT) developing products to
improve the quality of life. The company has a 45% ownership
interest in OncoQuest Inc. which sold its immunotherapy technology
to OncoQuest Pharmaceuticals, Inc. Quest also has an equity
interest in OncoVent, a Chinese joint venture developing
antibody-based immunotherapeutic products for cancer for the
Greater China territory. 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 is also developing
the mutant EGF technology licensed from Stanford University for chronic 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
Forward Looking Statements
This press release
includes forward-looking statements. In some cases, forward-looking
statements can be identified by terminology such as "may,"
"should," "potential," "continue," "expects," "anticipates,"
"intends," "plans," "believes," "estimates," and similar
expressions. These statements are based on management's
expectations and assumptions as of the date of this press release
and are subject to a number of risks and uncertainties, many of
which are difficult to predict that could cause actual results to
differ materially from current expectations and assumptions from
those set forth or implied by any forward-looking
statements. The information in this release is provided only
as of the date of this release and the company undertakes no
obligation to update any forward-looking statements contained in
this release based on new information, future events, or otherwise,
except as required by law.
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.