MediPharm Labs Announces Voting Results From the 2021 Annual Meeting of Shareholders

Rhea-AI Summary

MediPharm Labs Corp. (OTCQX: MEDIF) announced the results of its annual meeting held on June 9, 2021. A total of 361 shareholders representing 25.29% of common shares participated. All nominees for director were elected, with Warren Everitt receiving the highest votes of 44,825,123. KPMG LLP was appointed as the company’s auditor. MediPharm Labs specializes in pharmaceutical-quality cannabis extraction and has seen success in international markets, including commercial exports to Australia, generating revenues since H1 2020.

Positive

• All nominees for the board of directors were elected, demonstrating shareholder confidence.
• KPMG LLP appointed as auditor, ensuring financial oversight.
• Successful international operations with revenues generated from Australian exports.

Negative

• None.

BARRIE, Ontario, June 10, 2021 (GLOBE NEWSWIRE) -- MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, today announced the results of matters voted on at its annual meeting of holders of common shares held on Wednesday, June 9, 2021 (the “Meeting”). The voting results for each of the matters presented at the Meeting are outlined below.

There were 361 shareholders represented virtually or by proxy at the Meeting holding 65,230,720 common shares, representing 25.29% of MediPharm Labs total issued and outstanding common shares as at the record date for the Meeting. As the Meeting was held virtually, all resolutions were passed by a ballot vote.

1.   Election of Directors

Each of the nominees for election as directors were elected as directors of MediPharm Labs for the ensuing year or until their successors are elected or appointed. Voting results for the election of the individual directors are as set out below:

Nominee	Votes For	Votes Withheld
	#	#
Warren Everitt	44,825,123	2,153,748
Chris Halyk	44,759,019	2,219,852
Shelley Martin	44,775,094	2,203,777
Patrick McCutcheon	27,289,324	19,689,547
Miriam McDonald	44,443,162	2,535,709
Keith Strachan	44,606,498	2,372,373
Dr. Paul Tam	42,048,386	4,930,485
Chris Taves	44,932,867	2,046,004

2.   Appointment of Auditor

KPMG LLP, Chartered Professional Accountants, was appointed auditor of MediPharm Labs until the next annual meeting of the holders of the Shareholders at remuneration to be fixed by the directors. Voting results are as set out below:

Votes For	Votes Withheld
#	#
62,195,505	2,975,447

About MediPharm Labs

Founded in 2015, MediPharm specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients (API) and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard-built clean rooms. MediPharm has invested in an expert, research driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities with five primary extraction lines for delivery of pure, trusted and precision-dosed cannabis products for its customers. Through its wholesale and white label platforms, MediPharm formulates, develops (including through sensory testing), processes, packages and distributes cannabis extracts and advanced cannabinoid-based products to domestic and international markets. As a global leader, MediPharm has completed commercial exports to Australia and completed commercialization of its Australian extraction facility which generated its first revenues in H1 2020. MediPharm Australia was established in 2017.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability of MediPharm Labs to obtain adequate financing; the delay or failure to receive regulatory approvals; and other factors discussed in MediPharm Labs’ filings, available on the SEDAR website at www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, MediPharm Labs assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

FAQ

What were the voting results for the annual meeting of MediPharm Labs on June 9, 2021?

At the annual meeting held on June 9, 2021, 361 shareholders representing 25.29% of common shares participated, and all director nominees were elected.

Who was appointed as the auditor for MediPharm Labs in 2021?

KPMG LLP was appointed as the auditor for MediPharm Labs until the next annual meeting.

What is the significance of the board election results for MediPharm Labs?

The election of all nominees indicates strong shareholder confidence in the management and strategic direction of MediPharm Labs.

What is the stock symbol for MediPharm Labs?

The stock symbol for MediPharm Labs is MEDIF.

When did MediPharm Labs start generating revenues from its Australian operations?

MediPharm Labs began generating revenues from its Australian extraction facility in H1 2020.