Neovasc Inc. Reports Results of Annual General and Special Meeting of Shareholders

Rhea-AI Summary

Neovasc Inc. (NASDAQ, TSX: NVCN) announced the results from its Annual General and Special Meeting of Shareholders on April 12, 2022. Key outcomes included the re-election of board members and a common share consolidation approved by 95.52% of votes. The directors re-elected were Steven Rubin, Paul Geyer, Doug Janzen, Norman Radow, Alexei Marko, and Fred Colen. The Company is focusing on its cardiovascular products, including the Reducer for refractory angina and the Tiara device for mitral valve disease, currently under investigation.

Positive

• Re-election of all board members with strong support; Steven Rubin received 97.73% approval.
• Common share consolidation was approved with 95.52% of votes in favor.
• Focus on innovative cardiovascular products, indicated by ongoing development and clinical investigations.

Negative

• None.

VANCOUVER, April 13, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Neovasc Inc. (“Neovasc” or the “Company”) (NASDAQ, TSX: NVCN) is pleased to announce the results of the votes on matters considered at its Annual General and Special Meeting of Shareholders held on April 12, 2022 in Vancouver, B.C. (the “Meeting”).

At the Meeting, the shareholders of the Company (the “Shareholders”) re-elected board members Steven Rubin, Paul Geyer, Doug Janzen, Norman Radow, Alexei Marko and Fred Colen to serve in office until the next annual meeting or until their successors are duly elected or appointed. Detailed results of the voting in respect of the election of directors are as follows:

Nominee	Votes For	% Votes For	Votes Withheld	% Votes Withheld
Steven Rubin	8,055,190	97.73%	187,258	2.27%
Paul Geyer	8,070,556	97.91%	171,892	2.09%
Doug Janzen	8,064,654	97.84%	177,794	2.16%
Norman Radow	8,057,560	97.76%	184,888	2.24%
Alexei Marko	8,054,541	97.72%	187,907	2.28%
Fred Colen	8,127,385	98.60%	115,063	1.40%

At the Meeting, the Shareholders also approved the Company’s common share consolidation (95.52% of votes cast in favor) and appointed Grant Thornton LLP (USA), Chartered Accountants as auditors of the Company.

About Neovasc Inc.

Neovasc is a specialty medical device company that develops, manufactures and markets products for the rapidly growing cardiovascular marketplace. Its products include Reducer, for the treatment of refractory angina, which is not currently commercially available in the United States and has been commercially available in Europe since 2015, and Tiara^TM for the transcatheter treatment of mitral valve disease, which is currently under clinical investigation in the United States, Canada, Israel and Europe. For more information, visit: www.neovasc.com

Investors
Mike Cavanaugh
ICR Westwicke
Phone: +1.646.877.9641
Mike.Cavanaugh@westwicke.com

Media
Sean Leous
ICR Westwicke
Phone: +1.646.677.1839
Sean.Leous@westwicke.com

Forward-Looking Statement Disclaimer

Certain statements in this news release contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws that may not be based on historical fact. When used herein, the words "expect", "anticipate", "estimate", "may", "will", "should", "intend," "believe", and similar expressions, are intended to identify forward-looking statements. Forward-looking statements may involve but are not limited to, expectations as to the growing cardiovascular marketplace. Forward-looking statements are based on estimates and assumptions made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate in the circumstances. Many factors could cause the Company's actual results, performance or achievements to differ materially from those expressed or implied by the forward looking statements, including those described in the "Risk Factors" section of the Company's Annual Report on Form 20-F and in the Management's Discussion and Analysis for the year ended December 31, 2021 (copies of which may be obtained at www.sedar.com or www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

FAQ

What were the results of Neovasc's shareholder meeting on April 12, 2022?

At the meeting, board members were re-elected, and a common share consolidation was approved by 95.52% of votes.

How did the shareholders vote for board member Steven Rubin?

Steven Rubin received 97.73% of votes in favor of his re-election.

What is the significance of the common share consolidation for NVCN?

The common share consolidation helps streamline the company's capital structure and may positively influence share price.

What products is Neovasc developing?

Neovasc is developing the Reducer for refractory angina and the Tiara device for mitral valve disease.

What is the current status of Neovasc's Tiara device?

The Tiara device is currently under clinical investigation in the U.S., Canada, Israel, and Europe.