Zomedica Announces Shareholder Meeting Voting Results

ANN ARBOR, Mich., Sept. 25, 2020 (GLOBE NEWSWIRE) -- Zomedica Pharmaceuticals Corp. (NYSE American: ZOM) (“Zomedica” or the “Company”), a veterinary health company creating point-of-care diagnostics products for companion animals, today announced the voting results of its 2020 Annual and Special Virtual-Only Meeting of Shareholders (the “ Meeting”).

At the Meeting, the Company’s shareholders approved the following proposals:

• Election of Jeffrey Rowe, Robert Cohen, Johnny D. Powers, Rodney Williams, Chris MacLeod and Christopher Wolfenberg as directors;
• Appointment of MNP LLP as the auditors of the Company and related matters;
• Authorization of a reduction of the stated capital account applicable to the Common Shares of the Company in the discretion of the board of directors;
• An amendment to the articles of the Company (the “Articles”) to remove a lien on a share registered in the name of a shareholder for a debt to the Company;
• An amendment to the Articles allowing for shareholder meetings to be held outside of Alberta;
• An amendment to the Articles to change the name of the Company from “Zomedica Pharmaceuticals Corp.” to “Zomedica Corp.”; and,
• The ratification and confirmation of amendments to the Company’s by-laws.
  

The proposal to effect a proposed share consolidation/reverse stock split of the Company’s common shares was approved by a majority of the shares voting at the Meeting but did not receive the required two-thirds majority vote required under Canadian law.

Robert Cohen, Interim Chief Executive Officer of Zomedica, stated: “We believe that our core technology and planned products are strong, and that our future is bright. We remain focused on our key goal of advancing and bringing to market our lead product platform, TRUFORMA, as expeditiously as possible. We have approximately US$50 million in cash and cash equivalents, and believe that our cash resources position us well beyond the TRUFORMA commercialization. We will update shareholders as we make additional progress with our key milestones. Additionally, we understand the value of listing on a major exchange and are exploring all options available. We clearly appreciate and hope to reward investors' patience in the not-too-distant future, as we believe that these are exciting times for our company.”