Ceapro Announces Results of 2022 Shareholders’ Meeting

Rhea-AI Summary

Ceapro Inc. (OTCQX: CRPOF) announced the election of its Directors for a one-year term during its Annual General and Special Meeting held on June 1, 2022. Key votes included Genevieve Foster receiving 95.21% approval and Gilles Gagnon with 66.63%. Additionally, shareholders approved the appointment of auditors and an amended Stock Option Plan. Ronnie Miller will serve as Chairman, while Foster heads the Audit Committee. Ceapro focuses on developing active ingredients from oats and plant resources for healthcare and cosmetics, leveraging its proprietary extraction technology.

Positive

• All proposed Directors were elected with significant support, indicating strong shareholder confidence.
• Approval of an amended Stock Option Plan could incentivize management and align interests with shareholders.

Negative

• Gilles Gagnon and Glenn Rourke faced over 33% of withheld votes, indicating possible shareholder dissatisfaction.

EDMONTON, Alberta, June 07, 2022 (GLOBE NEWSWIRE) -- Ceapro Inc. (TSX-V: CZO; OTCQX: CRPOF) (“Ceapro” or the “Company”), a growth-stage biotechnology company focused on the development and commercialization of active ingredients for healthcare and cosmetic industries, announced today that all proposed Directors were elected to serve for a one-year term at its Annual General and Special Meeting of Shareholders held on June 1, 2022 as per the following results:

Nominee	Votes for	Votes withheld	% of votes cast
			FOR	WITHHELD
GenevieveFoster	19,828,178	997,763	95.21%	4.79%
Gilles Gagnon	13,875,695	6,950,246	66.63%	33.37%
Glenn Rourke	13,848,404	6,977,537	66.50%	33.50%
Ronald W. Miller	19,832,288	993,653	95.23%	4.77%
Dr. Ulrich Kosciessa	19,678,600	1,147,341	94.49%	5.51%
Dr. William Li	19,525,246	1,300,695	93.75%	6.25%

All other matters at the Shareholders' meeting, namely the appointment of auditors and the approval and ratification of an amended and restated Stock Option Plan, as proposed in the Company’s information circular dated April 19, 2022, were also approved by shareholders.

Mr. Ronnie Miller will serve as Chairman of the Board and Ms. Genevieve Foster will chair the Audit Committee for the upcoming year.

About Ceapro Inc.

Ceapro Inc. is a Canadian biotechnology company involved in the development of proprietary extraction technology and the application of this technology to the production of extracts and “active ingredients” from oats and other renewable plant resources. Ceapro adds further value to its extracts by supporting their use in cosmeceutical, nutraceutical, and therapeutics products for humans and animals. The Company has a broad range of expertise in natural product chemistry, microbiology, biochemistry, immunology and process engineering. These skills merge in the fields of active ingredients, biopharmaceuticals and drug-delivery solutions.

For more information on Ceapro, please visit the Company’s website at www.ceapro.com.

For more information contact:

Jenene Thomas
JTC Team, LLC
Investor Relations and Corporate Communications Advisor
T (US): +1 (833) 475-8247
E: czo@jtcir.com

Issuer:

Gilles R. Gagnon, M.Sc., MBA
President & CEO
T: 780-421-4555

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

FAQ

What were the voting results for Ceapro Inc.'s Directors on June 1, 2022?

Genevieve Foster received 95.21% support, while Gilles Gagnon and Glenn Rourke had 66.63% and 66.50% respectively.

What was approved at Ceapro Inc.'s Annual General and Special Meeting?

Shareholders approved the election of Directors, appointment of auditors, and an amended Stock Option Plan.

Who will chair Ceapro Inc.'s Audit Committee?

Genevieve Foster will chair the Audit Committee for the upcoming year.

What is Ceapro Inc.'s focus in the biotechnology industry?

Ceapro focuses on developing active ingredients from oats and plant resources for healthcare and cosmetics.