Immunovaccine Announces Leading Independent Proxy Advisory Firms Recommend Voting for Share Consolidation Related to Potentia...
April 17 2018 - 7:05AM
Immunovaccine Inc. (TSX:IMV) (OTCQX:IMMVF), a clinical stage
immuno-oncology corporation, is pleased to announce that
Institutional Shareholder Services Inc. (“ISS”) and Glass, Lewis
& Co., LLC (“Glass Lewis”), two leading independent proxy
advisory firms, have recommended that shareholders vote FOR all
items submitted for approbation by the shareholders, including the
share consolidation for a potential Nasdaq listing and the
Corporation’s name change, at the annual and special meeting of
shareholders to be held on May 1, 2018.
Although the approval of shareholders for the
share consolidation is being sought at the meeting, the share
consolidation would become effective at a date in the future to be
determined by the board, if and when it is considered to be in the
best interest of the company to implement the share consolidation.
The board may determine not to implement the share consolidation at
any time after the meeting without further action on the part of,
or notice to, the shareholders, and there is no assurance
whatsoever that the common shares of the company will be listed on
the Nasdaq.
ISS and Glass Lewis Share Consolidation
Recommendations
Among their positive recommendations FOR all
items on the agenda, ISS and Glass Lewis were of the view that the
share consolidation allows for enhanced long-term growth prospects
of the company by broadening its financing alternatives without
impacting shareholder value. Accordingly, shareholders are
encouraged to vote in favour of the share consolidation.
Attention Shareholders
Shareholders are reminded to vote their proxy
before 10:00 a.m. (Eastern time), on April 27, 2018.
Immunovaccine’s Board of Directors unanimously recommends that its
shareholders vote FOR all items submitted for approbation of the
shareholders, including the share consolidation and the name
change.
For more information and assistance in voting
your proxy, please contact Laurel Hill Advisory Group, at:
- North America toll-free: 1-877-452-7184
- Local and international: 416-304-0211
- Email: assistance@laurelhill.com
About Immunovaccine
Immunovaccine Inc. is a clinical stage
biopharmaceutical company dedicated to making immunotherapy more
effective, more broadly applicable, and more widely available to
people facing cancer and other serious diseases. Immunovaccine
develops T cell-activating cancer immunotherapies based on the
Company’s proprietary drug delivery platform. This patented
technology provides controlled and prolonged exposure to a broad
range of immunogenic stimuli. Immunovaccine has advanced two T
cell-activating therapies for cancer through Phase 1 human clinical
trials and is currently conducting a Phase 1b study with Incyte
Corporation assessing its lead cancer therapy, DPX-Survivac, as a
combination therapy in ovarian cancer. The Company is also
exploring additional applications of its platform, including
DPX-RSV, an innovative vaccine candidate for respiratory syncytial
virus (RSV), which has recently completed a Phase 1 clinical
trial. Immunovaccine also has ongoing research projects
in malaria and the Zika virus. Connect
at www.imvaccine.com.
Forward-Looking Statements
This press release contains forward-looking
information under applicable securities law. All information that
addresses activities or developments that we expect to occur in the
future is forward-looking information. Forward-looking statements
are based on the estimates and opinions of management on the date
the statements are made. However, they should not be regarded as a
representation that any of the plans will be achieved. Actual
results may differ materially from those set forth in this press
release due to risks affecting the Corporation, including access to
capital, the successful completion of clinical trials and receipt
of all regulatory approvals. Immunovaccine Inc. assumes no
responsibility to update forward-looking statements in this press
release except as required by law.
Contacts for Immunovaccine:
MEDIA Mike Beyer, Sam Brown Inc. T: (312) 961-2502 E:
mikebeyer@sambrown.com
INVESTOR RELATIONSPierre Labbé, Chief Financial Officer T:
(902) 492-1819 E: Plabbe@imvaccine.com
Patti Bank, Managing Director, Westwicke Partners O: (415)
513-1284 T: (415) 515-4572 E: patti.bank@westwicke.com
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