Sirona Biochem (TSXV:SBM)
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6 Months : From Apr 2019 to Oct 2019
VANCOUVER, June 20, 2019 /CNW/ - Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) ("Sirona") is pleased to announce the voting results from its Annual General Meeting of Shareholders (the "Meeting"), held in Vancouver, British Columbia on June 20, 2019. The total number of shares represented by shareholders present in person and by proxy at the meeting was 32,141,666 million representing 15.47% of Sirona's issued and outstanding Common Shares.
All of the matters put forward before shareholders for consideration and approval as set out in the Company's Management Information Circular dated 22nd of May, 2019, were approved by the requisite majority of votes cast at the Meeting. The details of the voting results for the election of directors are set out below:
# Votes for
% Votes for
The shareholders also approved: (i) fixing of the number of directors of the Company at five; (ii) appointing MNP LLP, Chartered Accountants, as the Company's auditor for the ensuing year and authorizing the directors to set the auditor's remuneration; and (iii) confirming and approving the Company's existing stock option plan.
The Company will file a report of voting results on all resolutions voted on at the Meeting on www.sedar.com shortly.
CEO AGM Update
I'd like to take this opportunity to thank you for the continued support of Sirona. It is of great satisfaction to have over 98% of votes cast to support the current management team. This has been an exciting breakthrough year and we are grateful that you have remained on board with us, sharing our successes of Sirona's novel platform technology.
Rodan + Fields have completed extensive due diligence on TFC-1067. This included both the data package provided by Sirona as well as their independent research and analysis on the compound. Rodan + Fields, the No. 1 skincare brand in North America in terms of total sales, are now moving our novel skin lightener towards full commercialization. The anticipated definitive agreement with Rodan + Fields has enormous value to Sirona, far beyond North America.
It is particularly important for our European shareholders to understand that Rodan + Fields utilizes approximately 300,000 consultants to sell products. Their skincare starter kits are aimed at reducing the appearance of lines, dark spots, and acne in adult women. Rodan + Fields are a perfect fit for Sirona and vice versa. We are confident Rodan + Fields will deliver industry leading products incorporating Sirona's skin lightener TFC-1067.
After the heavy lifting is done and while we work together with Rodan + Fields through the stages of commercialization, further partners for other sales channels and regions will beat a path to our door. The discussions with our potential TFC-1067 partner for China are also nearing completion.
We anticipate more exciting news from China as Wanbang's management meets to approve the release of information. We are also in advanced discussions on a large new project with a global corporation that we hope to share with you in Q4/2019.
The current market capitalization for Sirona Biochem has increased substantially thanks to positive company developments as well as growing shareholder support. Sirona's management has now decided to establish a shareholder rights plan ("Poison Pill") and has asked our legal counsel to take the necessary steps to put this in place.
The adoption of the Poison Pill is intended to protect Sirona Biochem and its shareholders from the actions of third parties that the Board of Directors determines are not in the best interests of Sirona Biochem and its shareholders, and to enable all shareholders to realize the long-term value of their investment in Sirona Biochem.
The Board of Directors believes that the Poison Pill will ensure that the Board of Directors remains in the best position to discharge its fiduciary duties to Sirona Biochem and its shareholders. The Poison Pill is not intended to interfere with any sale, merger, tender or exchange offer, or other business combination approved by the Board of Directors. Nor does the Poison Pill prevent the Sirona Biochem Board of Directors from considering any offer that it deems to be in the best interest of Sirona Biochem's shareholders.
We have exciting times ahead of us.
Dr. Howard Verrico, CEO
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
Sirona's compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona's laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sirona Biochem cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. Forward-looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, Sirona Biochem's forward-looking statements due to the risks and uncertainties inherent in Sirona Biochem's business including, without limitation, statements about: the progress and timing of its clinical trials; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing its products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization; the scope and validity of patent protection for its products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. Sirona Biochem does not assume any obligation to update any forward-looking statements except as required by law.
SOURCE Sirona Biochem Corp.