Aeterna Zentaris and Ceapro Merger Approved by Securityholders at Special Meetings

TORONTO and EDMONTON, Alberta, March 12, 2024 (GLOBE NEWSWIRE) -- Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZS) (“Aeterna”) and Ceapro Inc. (TSX-V: CZO; OTCQX: CRPOF) (“Ceapro”) are pleased to announce that securityholders of both biopharmaceutical development companies approved the all-stock merger of equals transaction (the “Transaction”) at their respective special meetings held today. The specific voting results were as follows:

Aeterna shareholders approved the Transaction with the following voting results:

Resolution	Voting Results
1. Issuance Resolution	For: 604,823 / 78.97% Against: 161,099 / 21.03%
2. Increase Number of Directors	For: 610,523 / 79.71% Against: 155,399 / 20.29%
3. Conditional Election of Ronald W. Miller	For: 622,082 / 81.22% Against: 143,840 / 18.78%
4. Conditional Election of Ulrich Kosciessa	For: 620,608 / 81.03% Against: 145,314 / 18.97%
5. Conditional Election of Geneviève Foster	For: 623,085 / 81.35% Against: 142,837 / 18.65%
6. Conditional Election of William Li	For: 626,788 / 81.83% Against: 139,134 / 18.17%
7. Consolidation Resolution	For: 604,407 / 78.91% Against: 161,515 / 21.09%

Ceapro securityholders approved the Transaction with the following voting results:

Resolution	Shareholders Votes For / Against, Vote Percentage For / Against	Shareholders and Optionholders Votes For / Against, Vote Percentage For / Against
1. Arrangement Resolution	22,307,308 / 10,872,013 67.23% / 32.77%	24,795,308 / 10,872,013 69.52% / 30.48%

"We thank our shareholders for their backing of this transaction," said Carolyn Egbert, Chair of Aeterna. “This is an excellent outcome that supports the creation of what we believe will be a long-term sustainable business, optimally positioned to deliver value to the biopharma sector, and to Aeterna and Ceapro shareholders."