Profound Medical Annual General Meeting of Shareholders Voting Results
May 15 2024 - 5:00PM
Profound Medical Corp. (TSX: PRN; NASDAQ: PROF) (“Profound” or the
“Company”) is pleased to announce the voting results from its
Annual General Meeting of Shareholders that was held today (the
“Meeting”). A total of 15,336,388 common shares, representing
62.78% of the common shares outstanding, were represented in person
and by proxy at the Meeting.
All of the matters put forward before the
shareholders, as set out in the Company’s management information
circular dated April 5, 2024 (the “Information Circular”), were
approved by the requisite majority of votes cast at the
Meeting.
Election of Directors
At the meeting, the shareholders of the Company
elected all six nominees for the board of directors (the
“Board”). Detailed results of the voting in
respect of the election of directors are as follows:
Nominee |
For |
% For |
Withheld |
% Withheld |
Arun Menawat |
8,836,391 |
97.776% |
201,026 |
2.224% |
Brian Ellacott |
8,881,011 |
98.269% |
156,406 |
1.731% |
Cynthia Lavoie |
8,938,041 |
98.9% |
99,376 |
1.1% |
Murielle Lortie |
8,822,641 |
97.623% |
214,776 |
2.377% |
Arthur Rosenthal |
8,880,511 |
98.264% |
156,906 |
1.736% |
Kris Shah |
8,881,011 |
98.269% |
156,406 |
1.731% |
Other Matters
The Company’s shareholders also approved the
appointment of PricewaterhouseCoopers LLP as the auditor for the
Company to hold office until the close of the next annual meeting
or until its successor is duly appointed, at such remuneration as
may be determined by the board of directors. Detailed voting
results for all resolutions will be posted under the Company’s
profile at www.sedarplus.ca.
About Profound Medical Corp.
Profound is a commercial-stage medical device
company that develops and markets customizable, incision-free
therapies for the ablation of diseased tissue.
Profound is commercializing TULSA-PRO®, a
technology that combines real-time MRI, robotically-driven
transurethral ultrasound and closed-loop temperature feedback
control. TULSA-PRO® is designed to provide customizable and
predictable radiation-free ablation of a surgeon-defined prostate
volume while actively protecting the urethra and rectum to help
preserve the patient’s natural functional abilities. TULSA-PRO® has
the potential to be a flexible technology in customizable prostate
ablation, including intermediate stage cancer, localized
radio-recurrent cancer, retention and hematuria palliation in
locally advanced prostate cancer, and the transition zone in large
volume benign prostatic hyperplasia (“BPH”). TULSA-PRO® is CE
marked, Health Canada approved, and 510(k) cleared by the U.S. Food
and Drug Administration (“FDA”).
Profound is also commercializing Sonalleve®, an
innovative therapeutic platform that is CE marked for the treatment
of uterine fibroids and palliative pain treatment of bone
metastases. Sonalleve® has also been approved by the China National
Medical Products Administration for the non-invasive treatment of
uterine fibroids and has FDA approval under a Humanitarian Device
Exemption for the treatment of osteoid osteoma. The Company is in
the early stages of exploring additional potential treatment
markets for Sonalleve® where the technology has been shown to have
clinical application, such as non-invasive ablation of abdominal
cancers and hyperthermia for cancer therapy.
Forward-Looking Statements
This release includes forward-looking statements
regarding Profound and its business which may include, but is not
limited to, the expectations regarding the efficacy of Profound’s
technology in the treatment of prostate cancer, BPH, uterine
fibroids, palliative pain treatment and osteoid osteoma. Often, but
not always, forward-looking statements can be identified by the use
of words such as "plans", "is expected", "expects", "scheduled",
"intends", "contemplates", "anticipates", "believes", "proposes" or
variations (including negative variations) of such words and
phrases, or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved.
Such statements are based on the current expectations of the
management of Profound. The forward-looking events and
circumstances discussed in this release, may not occur by certain
specified dates or at all and could differ materially as a result
of known and unknown risk factors and uncertainties affecting the
Company, including risks regarding the medical device industry,
regulatory approvals, reimbursement, economic factors, the equity
markets generally and risks associated with growth and competition.
Although Profound has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events or results to differ from
those anticipated, estimated or intended. No forward-looking
statement can be guaranteed. In addition, there is uncertainty
about the spread of the COVID-19 virus and the impact it will have
on Profound’s operations, the demand for its products, global
supply chains and economic activity in general. Except as required
by applicable securities laws, forward-looking statements speak
only as of the date on which they are made and Profound undertakes
no obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events,
or otherwise, other than as required by law.
For further information, please contact:
Stephen Kilmer Investor Relations skilmer@profoundmedical.com T:
647.872.4849
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