MediPharm Labs Announces Voting Results From the 2024 Annual Meeting of Shareholders

Rhea-AI Summary

MediPharm Labs held its annual shareholder meeting on June 26, 2024, with 337 shareholders representing 14.72% of the company's issued shares. All resolutions were passed by a ballot vote.

The election of directors saw Michael Bumby, Chris Halyk, David Pidduck, Shelley Potts, and Chris Taves elected for the upcoming year. Voting results indicated strong support for Chris Halyk (93.15%) and David Pidduck (91.15%).

MNP LLP was appointed as the company's auditor until the next annual meeting, with 97.42% of votes in favor.

Positive

• Strong shareholder participation with 14.72% of shares represented.
• Chris Halyk received significant support with 93.15% votes.
• David Pidduck secured 91.15% votes, showing strong confidence from shareholders.
• MNP LLP's reappointment as auditor with 97.42% votes in favor indicates strong trust in financial oversight.

Negative

• Michael Bumby received a relatively lower support with 57.30% votes.

TORONTO, June 26, 2024 /PRNewswire/ - MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) ("MediPharm", "MediPharm Labs" or the "Company"), a pharmaceutical company specialized in precision-based cannabinoids, today announced the results of matters voted on at its annual meeting of holders of common shares ("Shareholders") held on Wednesday, June 26, 2024 (the "Meeting"). The voting results for each of the matters presented at the Meeting are outlined below.

There were 337 Shareholders represented virtually or by proxy at the Meeting holding 59,605,486 common shares, representing 14.72% 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
	#	%	#	%
Michael Bumby	34,006,743	57.304	25,337,458	42.696
Chris Halyk	55,278,278	93.149	4,065,923	6.851
David Pidduck	54,094,062	91.153	5,250,139	8.847
Shelley Potts	54,033,383	91.051	5,310,818	8.949
Chris Taves	54,786,218	92.319	4,557,983	7.681

The Company's Board of Directors continues to be composed almost entirely of Independent Directors, with David Pidduck being the only Executive Director.

2.      Appointment of Auditor

MNP LLP, Chartered Professional Accountants, was appointed as 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
#	%	#	%
58,061,900	97.418	1,538,874	2.582

About MediPharm Labs

Founded in 2015, MediPharm Labs 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 Labs 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. MediPharm Labs develops, formulates, processes, packages and distributes cannabis and advanced cannabinoid-based products to domestic and international medical markets.

In 2021, MediPharm Labs received a Pharmaceutical Drug Establishment License from Health Canada, becoming the only company in North America to hold a commercial-scale domestic Good Manufacturing License ("GMP") for the extraction of multiple natural cannabinoids. This GMP license was the first step in the Company's current foreign drug manufacturing site registration with the US Food and Drug Administration.

In 2023, MediPharm acquired VIVO Cannabis Inc. which expanded MediPharm's reach to medical patients in Canada via Canna Farms medical ecommerce platform, and in Australia and Germany through Beacon Medical PTY and Beacon Medical GMBH. This acquisition also included Harvest Medical Clinics in Canada which provides medical cannabis patients with Physician consultations for medical cannabis education and prescriptions. The Company carries out its operations in compliance with all applicable laws in the countries in which it operates.

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SOURCE MediPharm Labs Corp.

FAQ

What were the results of the 2024 MediPharm Labs annual shareholder meeting?

MediPharm Labs' 2024 annual shareholder meeting saw the election of all nominated directors and the reappointment of MNP LLP as the auditor.

How many shareholders participated in the MediPharm Labs 2024 annual meeting?

A total of 337 shareholders participated, representing 14.72% of the issued shares.

Who were the directors elected at the 2024 MediPharm Labs meeting?

The elected directors were Michael Bumby, Chris Halyk, David Pidduck, Shelley Potts, and Chris Taves.

How many votes did Chris Halyk receive in the 2024 MediPharm Labs election?

Chris Halyk received 93.15% of the votes in favor.

Which auditor was appointed at the MediPharm Labs 2024 annual meeting?

MNP LLP was appointed as the auditor with 97.42% of the votes in favor.