Prometic announces voting results of its 2019 AGM

June 20, 2019

LAVAL, CANADA, ROCKVILLE, USA and CAMBRIDGE, UKJune 19, 2019 – Prometic Life Sciences Inc. (TSX: PLI) (OTCQX: PFSCF) (“Prometic” or the “Corporation”) announced the voting results from its 2019 Annual General and Special Meeting of Shareholders (“AGM”) held in Montreal, Quebec. A total of 16,792,591,957 common shares were voted, representing 81.04% of the votes attached to the issued and outstanding common shares of Prometic.

Directors

The following Directors were elected to hold offices until the Corporation’s next annual meeting of shareholders or until their successors are elected or appointed:

Name of Nominee

Votes For

Votes Withheld

 

#

%

#

%

Simon G. Best, Lead Independent Director

16,728,666,243

99.83

27,934,841

0.17

Stefan V. Clulow, Chair of the Board

16,734,303,991

99.87

22,297,093

0.13

Kenneth Galbraith

16,739,015,483

99.90

17,585,601

0.10

Gary J. Bridger

16,739,454,207

99.90

17,146,877

0.10

Neil A. Klompas

16,740,432,806

99.90

16,168,278

0.10

Zachary J. Newton

16,737,582,720

99.89

19,018,364

0.11

Timothy S. Wach

16,739,799,987

99.90

16,801,097

0.10

Auditors

Ernst & Young LLP, the Corporation’s auditors, was not reappointed given their non-audit business relationship with a corporation under common control with Structured Alpha LP, Prometic’s principal and controlling shareholder. PricewaterhouseCoopers LLP was duly elected as auditors until the next annual meeting of shareholders of the Corporation or until their successors are appointed.

Omnibus Incentive Plan

Shareholders also approved the Omnibus Incentive Plan. This long-term incentive plan permits the grant of stock options, restricted share units and performance share units to directors, executive officers, employees and consultants of the Corporation and its subsidiaries.

Share Consolidation

The amendment to the articles of the Corporation was approved so as to consolidate all of the issued and outstanding common shares of the Corporation, on the basis of a consolidation ratio to be selected by the Board of Directors within a range between seven hundred fifty (750) pre-consolidation common shares for one (1) post-consolidation common share and one thousand two hundred fifty (1250) pre-consolidation common shares for one (1) post-consolidation common share, effective as at the discretion of the Board of Directors and subject to TSX approval, provided that such date shall be before June 20, 2020.

Detailed voting results for the 2019 AGM are available on SEDAR at www.sedar.com.

About Prometic Life Sciences

Prometic (www.prometic.com) is an innovative biopharmaceutical corporation with a broad pipeline of small molecule therapeutics under development to treat unmet needs in patients with liver, respiratory and kidney disease, including rare diseases. Prometic's differentiated research involves the study of a new antifibrotic pathway involving two G-protein-coupled-receptors, GPR40 and GPR84. These drug candidates have a dual mode-of-action as agonists ("stimulators") of GPR40 and antagonists ("inhibitors") of GPR84. Our lead drug candidate, PBI-4050, is expected to enter Phase 3 clinical studies for the treatment of Alström Syndrome in 2019. A second drug candidate, PBI-4547, is expected to enter Phase 1 clinical studies in 2019. Prometic also has leveraged its experience in bioseparation technologies to isolate and purify biopharmaceuticals from human plasma. The lead plasma-derived therapeutic product is Ryplazim™ (plasminogen) which the Company expects to file a BLA with the US FDA in 2019 seeking approval to treat patients with congenital plasminogen deficiency. The Corporation also operates a contract development and manufacturing operation in the United Kingdom, deriving revenue through sales of affinity chromatography media. Prometic has active business operations in Canada, the United States, the Isle of Man and the United Kingdom. For more information, please visit www.prometic.com.

Forward Looking Statements

This press release contains forward-looking statements about Prometic’s objectives, strategies and businesses that involve risks and uncertainties. These statements are “forward-looking” because they are based on our current expectations about the markets we operate in and on various estimates and assumptions. Actual events or results may differ materially from those anticipated in these forward-looking statements if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. Such risks and assumptions include, but are not limited to, Prometic’s ability to develop, manufacture, and successfully commercialize value-added pharmaceutical products, the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of Prometic to take advantage of business opportunities in the pharmaceutical industry, uncertainties related to the regulatory process and general changes in economic conditions. You will find a more detailed assessment of the risks that could cause actual events or results to materially differ from our current expectations in Prometic’s Annual Information Form for the year ended December 31, 2018, under the heading "Risk and Uncertainties related to Prometic’s business". As a result, we cannot guarantee that any forward-looking statement will materialize. We assume no obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason, unless required by applicable securities laws and regulations.

For further information please contact:

Bruce Pritchard

b.pritchard@prometic.com

450.781.0115

 

Patrick Sartore

p.sartore@prometic.com

450-781-0115

 

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