ProMIS Holds Annual and Special Meeting of Shareholders All Resolutions Approved

Rhea-AI Summary

ProMIS Neurosciences Inc. (OTCQB: ARFXF) held its Annual and Special Meeting of Shareholders on May 12, 2022, with 45.13% of Common Shares represented. All proposed resolutions were approved, including the election of eight directors, the appointment of PricewaterhouseCoopers as auditor, and amendments to the By-Laws for increased quorum requirements. Directors received high support, with votes for ranging from 84.04% to 99.12%. The company, focused on antibody therapeutics for neurodegenerative diseases, continues to develop innovative treatments targeting toxic oligomers.

Positive

• All resolutions passed with significant shareholder support.
• High percentage of votes for elected directors, indicating strong confidence in leadership.

Negative

• None.

TORONTO, Ontario and CAMBRIDGE, Massachusetts, May 13, 2022 (GLOBE NEWSWIRE) -- ProMIS Neurosciences Inc. (TSX: PMN) (OTCQB: ARFXF) (“ProMIS” or the “Corporation”), is pleased to announce the Annual and Special Meeting of Shareholders (the “Meeting”) of ProMIS was held online by virtual web-cast meeting, on Thursday, May 12, 2022 at 9:00 a.m. (Pacific time). With 45.13% of Common Shares represented at the Meeting, Shareholders approved all resolutions. In compliance with securities regulations and Toronto Stock Exchange requirements, the Corporation has posted the results of the voting below.

All Resolutions Passed

At the Meeting, Shareholders were asked to consider and vote on the following:

1. ELECTION OF DIRECTORS: Shareholders elected eight directors of the Corporation:

Director	Votes For	Votes Withheld	% For		% Withheld
Eugene Williams	140,461,882	12,342,621	91.92	%	8.08	%
Neil Cashman, M.D.	151,463,709	1,340,794	99.12	%	0.88	%
Richard J. Gregory, Ph.D.	141,981,039	10,823,464	92.92	%	7.08	%
Patrick D. Kirwin	141,746,982	11,057,521	92.76	%	7.24	%
Joshua Mandel-Brehm	142,011,039	10,793,464	92.94	%	7.06	%
Maggie Shafmaster, Ph.D., JD	141,964,639	10,839,864	92.91	%	7.09	%
Neil K. Warma	141,947,932	10,856,571	92.90	%	7.10	%
William Wyman	128,417,532	24,386,971	84.04	%	15.96	%

2. APPOINTMENT OF AUDITOR: Shareholders voted in favour of the ordinary resolution to appoint PricewaterhouseCoopers, Chartered Accountants, as auditor of the Corporation for the ensuing year and to authorize the directors to fix the auditor’s remuneration.  

Appointment of Auditor	Votes For	Votes Withheld	% For		% Withheld
PricewaterhouseCoopers, Chartered Accountants	189,016,439	5,821,789	97.01	%	2.99	%

3. AMENDMENT OF BY-LAWS: Shareholders voted in favour of the ordinary resolution to confirm and approve amendment by the Board of Directors of the By-Laws of the Corporation to remove the Board’s option to appoint alternate directors; and to change the definition of quorum for a meeting of the Shareholders to increase quorum from one-twentieth, being five (5%) percent, to thirty-three and one-third (33 1/3%) percent of the issued Common Shares from time to time.        

Ordinary Resolution	Votes For	Votes Against	% For		% Against
To authorize the Board to amend the By-Laws of ProMIS	132,852,269	19,952,234	86.94	%	13.06	%

About ProMIS Neurosciences Inc.

ProMIS Neurosciences Inc. is a development stage biotechnology Corporation focused on discovering and developing antibody therapeutics selectively targeting toxic oligomers implicated in the development and progression of neurodegenerative diseases, in particular Alzheimer’s disease (AD), amyotrophic lateral sclerosis (ALS) and Multiple system atrophy (MSA). The Corporation’s proprietary target discovery engine is based on the use of two complementary techniques. The Corporation applies its thermodynamic, computational discovery platform - ProMIS™ and Collective Coordinates - to predict novel targets known as Disease Specific Epitopes on the molecular surface of misfolded proteins. Using this unique approach, the Corporation is developing novel antibody therapeutics for AD, ALS and MSA. ProMIS is headquartered in Toronto, Ontario, Canada with offices in Cambridge, Massachusetts, U.S.A. ProMIS is listed on the Toronto Stock Exchange (“TSX”) under symbol PMN, and on the OTCQB Venture Market under symbol ARFXF.

To learn more, visit us at www.promisneurosciences.com, follow us on Twitter and LinkedIn

For Investor Relations please contact:
Alpine Equity Advisors
Nicholas Rigopulos, President
nick@alpineequityadv.com
Tel. 617 901-0785

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Certain information in this news release constitutes forward-looking statements and forward-looking information (collectively, ‎‎"forward-looking information") within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking information can be identified by the ‎use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", ‎‎"is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and ‎phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be ‎achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or ‎circumstances contain forward-looking information. ‎Specifically, this news release contains forward-looking information relating to future management and Board composition of the Corporation and the potential benefits of targeting misfolded proteins. Statements containing forward-looking information are not historical facts but instead represent management's current ‎expectations, estimates and projections regarding the future of our business, future plans, strategies, projections, anticipated events ‎and trends, the economy and other future conditions. Forward-looking information is necessarily based on a number of opinions, ‎assumptions and estimates that, while considered reasonable by the Corporation as of the date of this news release, are subject to ‎known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, ‎performance or achievements to be materially different from those expressed or implied by such forward-looking information. Important factors that could cause actual results and financial condition to differ materially from those indicated in the forward-looking information include, among others, the factors discussed throughout the "Risk Factors" section of the Corporation's most recently filed annual information form available on www.SEDAR.com. Except as required by applicable securities laws, the Corporation undertakes no obligation to publicly update any forward-looking information, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

FAQ

What were the results of ProMIS Neurosciences' Annual Meeting on May 12, 2022?

All resolutions were approved, including the election of eight directors, appointment of auditors, and amendments to the By-Laws.

What percentage of shares were represented at the ProMIS Neurosciences Meeting?

45.13% of Common Shares were represented at the Meeting.

Who was elected to the board of directors at ProMIS Neurosciences' Meeting?

Eight directors were elected, with voting percentages ranging from 84.04% to 99.12%.

What auditor was appointed at ProMIS Neurosciences' Annual Meeting?

PricewaterhouseCoopers was appointed as the auditor for the upcoming year.

What changes were made to ProMIS Neurosciences' By-Laws during the Meeting?

The quorum requirement was increased from 5% to 33.33% of issued Common Shares.