Immunovaccine Shareholders Approve Share Consolidation at 99.85%
May 01 2018 - 4:35PM
Immunovaccine Inc. (TSX:IMV)(OTCQX:IMMVF), a clinical stage
immuno-oncology corporation, today announced that at the annual and
special meeting of shareholders held on May 1, 2018, the share
consolidation as described in the management information circular
filed on April 4, 2018 (the “Circular”) was approved by the
shareholders at 99.85% of the shares voted.
“As our Company continues to evolve, getting
closer to bringing a new class of immunotherapies to patients in
disease areas with unmet or under-served medical needs, we have the
opportunity to broaden our investor base and further bolster our
financial position,” said Frederic Ors, Chief Executive Officer,
Immunovaccine Inc. “We are grateful for the overwhelming support of
our shareholders at today’s vote, who helped us take the proactive
step of positioning our Company for long term growth and value
derivation.”
Share Consolidation
Based on the proxies received and the votes on a show of hands
with respect to the adoption of a special resolution to approve the
share consolidation, the results are as follows:
RESOLUTION |
Votes cast FOR |
% of votes cast FOR |
AGAINST |
Percentage (%) AGAINST |
Special Resolution for the approval of the share consolidation such
that the trading price of the post-consolidation Shares is at a
minimum of US$5 per post-consolidation |
69,373,739 |
99.85% |
101,264 |
0.15% |
Election of Directors
Based on the proxies received and the votes on a
show of hands, the following individuals were elected as directors
of the Corporation until the next annual shareholders’ meeting.
Accordingly, the results are set out below:
Name of Nominee |
Votes cast FOR |
% of votes cast FOR |
WITHHELD |
Percentage (%) WITHHELD |
Andrew Sheldon |
68,083,600 |
99.50% |
345,522 |
0.50% |
James H. Hall |
68,347,115 |
99.88% |
82,007 |
0.12% |
Frederic Ors |
68,329,165 |
99.85% |
99,957 |
0.15% |
Wayne Pisano |
68,344,645 |
99.88% |
84,477 |
0.12% |
Albert Scardino |
68,326,665 |
99.85% |
102,457 |
0.15% |
Alfred Smithers |
68,329,195 |
99.85% |
99,927 |
0.15% |
Shermaine Tilley |
68,353,145 |
99.89% |
75,977 |
0.11% |
Change of Name
Based on the proxies received and the votes on a
show of hands with respect to the adoption of an ordinary
resolution for the approval of the Amended and Restated Shareholder
Rights Plan, the results are as follows:
RESOLUTION |
Votes cast FOR |
% of votes cast FOR |
AGAINST |
Percentage (%) AGAINST |
Special Resolution for the approval to amend its articles to change
the name of the Corporation from “Immunovaccine Inc.” to “IMV
Inc.” |
69,438,605 |
99.95% |
36,757 |
0.05% |
Appointment of Auditors
Based on the proxies received and the votes on a
show of hands, PricewaterhouseCoopers, LLP, Chartered Accountants,
was appointed as independent auditor of the Corporation for the
ensuing year and the directors are authorized to fix their
remuneration, with the following results:
RESOLUTION |
Votes cast FOR |
% of votes cast FOR |
WITHHELD |
Percentage (%) WITHHELD |
Appointment of Auditor |
69,445,025 |
99.96% |
30,338 |
0.04% |
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 is pioneering a
new class of immunotherapies based on the Company’s proprietary
drug delivery platform. This patented technology leverages a novel
mechanism of action that enables the reprogramming of immune cells
in vivo, which are aimed at generating powerful new synthetic
therapeutic capabilities. Immunovaccine’s lead candidate,
DPX-Survivac, is a T cell activating immunotherapy that combines
the utility of the platform with a target: survivin. Immunovaccine
is currently conducting three Phase 2 studies with Incyte and Merck
assessing DPX-Survivac as a combination therapy in ovarian cancer
and diffuse large B-cell lymphoma. Connect
at www.imvaccine.com.
Immunovaccine 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 OfficerT: (902) 492-1819 E:
info@imvaccine.com
Patti Bank, Managing Director, Westwicke
PartnersO: (415) 513-1284T: (415) 515-4572 E:
patti.bank@westwicke.com
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