Perimeter Medical Imaging AI Announces Voting Results from 2022 Annual and Special Meeting of Shareholders

Rhea-AI Summary

Perimeter Medical Imaging AI, Inc. (PYNKF) announces the results of its 2022 annual and special meeting of shareholders held on October 27, 2022. Shareholders approved all matters, including the election of seven board members and a new omnibus equity incentive plan. The Omnibus Plan allows the issuance of options and units, capping at 12,834,531 common shares. Additionally, KPMG LLP was reappointed as the company’s auditor for the upcoming year. Perimeter focuses on innovative imaging tools to enhance cancer surgery, with promising products currently in evaluation.

Positive

• Approval of new omnibus equity incentive plan, allowing for up to 12,834,531 common shares issuance.
• Reappointment of KPMG LLP as auditor, ensuring continued oversight.
• Election of seven qualified board members for enhanced governance.

Negative

• None.

TORONTO & DALLAS--(BUSINESS WIRE)-- Perimeter Medical Imaging AI, Inc. (TSX-V: PINK) (OTC: PYNKF) (FSE: 4PC) (“Perimeter” or the “Company”) – a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address high unmet medical needs, announced the results of its 2022 annual and special meeting of shareholders (the “Meeting”) held on October 27, 2022.

All the matters put forward before Shareholders for consideration and approval as set out in the Company’s management information circular dated September 20, 2022 were approved by the requisite majority of votes cast at the Meeting, including the election of all seven management nominees to the board of directors of the Company for the ensuing year. Perimeter’s board of directors now consists of:

• Anthony Holler
• Jeremy Sobotta
• Suzanne M. Foster
• Aaron Davidson
• Ian Mortimer
• Hugh Cleland
• Anantha Kancherla

At the Meeting, the shareholders approved the adoption of Perimeter’s new omnibus equity incentive plan (the “Omnibus Plan”) and reserved common shares of Perimeter (“Common Shares”) for issuance under the Omnibus Plan. The Omnibus Plan is a “fixed up to 20% plan” (as that term is used by the TSX Venture Exchange) and replaces the Company’s previous fixed 20% stock option plan. The Omnibus Plan allows the Company to issue stock options, restricted share units, performance share units, deferred share units and stock appreciation rights (“Awards”). The maximum number of Common Shares reserved and available for issuance under the Omnibus Incentive Plan is fixed at an aggregate of 12,834,531 Common Shares (such number being equal to approximately 20% of the issued and outstanding Common Shares).

The shareholders also approved the reappointment of the Company’s auditor KPMG LLP for the ensuing year, and the directors were authorized to fix the auditors’ remuneration.

About Perimeter Medical Imaging AI, Inc.

Based in Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI (TSX-V: PINK) (OTC: PYNKF) (FSE: 4PC) is a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the U.S., our FDA-cleared Perimeter S-Series OCT system provides real-time, cross-sectional visualization of excised tissues at the cellular level, with 10x greater image resolution than X-ray and ultrasound, and 100x greater than MRI. The breakthrough-device-designated investigational Perimeter B-Series OCT with ImgAssist AI represents our next-generation artificial intelligence technology that is currently being evaluated in a pivotal clinical trial, with support from a grant of up to US$7.4 million awarded by the Cancer Prevention and Research Institute of Texas. The company’s ticker symbol “PINK” is a reference to the pink ribbons displayed during Breast Cancer Awareness Month.

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

Forward-Looking Statements

This news release contains statements that constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. In this news release, words such as “may,” “would,” “could,” “will,” “likely,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking information may relate to management’s future outlook and anticipated events or results and may include statements or information regarding the future financial position, business strategy and strategic goals, competitive conditions, research and development activities, projected costs and capital expenditures, research and clinical testing outcomes, taxes and plans and objectives of, or involving, Perimeter. Without limitation, information regarding the potential benefits of Perimeter S-Series OCT, Perimeter B-Series OCT, and Perimeter ImgAssist; Perimeter’s expected development activities and the expected details regarding Perimeter’s ongoing clinical trials are forward-looking information. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, any particular result will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Perimeter’s control. Such forward-looking statements reflect Perimeter’s current view with respect to future events, but are inherently subject to significant medical, scientific, business, economic, competitive, political, and social uncertainties and contingencies. In making forward-looking statements, Perimeter may make various material assumptions, including but not limited to (i) the accuracy of Perimeter’s financial projections; (ii) obtaining positive results from trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market, and economic conditions. Further risks, uncertainties and assumptions include, but are not limited to, those applicable to Perimeter and described in Perimeter’s Management Discussion and Analysis for the year ended December 31, 2021, which is available on Perimeter’s SEDAR profile at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Perimeter does not intend, nor does Perimeter undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events, or circumstances or otherwise, except if required by applicable laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221107006038/en/

Chris Scott

Chief Financial Officer

Perimeter Medical Imaging AI, Inc.

Investors: investors@perimetermed.com

Toll-free: 888-988-7465 (PINK)



Jodi Regts

Corporate Communications

Perimeter Medical Imaging AI, Inc.

Media: media@perimetermed.com

Mobile: 469-743-1834

Source: Perimeter Medical Imaging AI, Inc.

FAQ

What decisions were made at Perimeter Medical Imaging AI's shareholder meeting on October 27, 2022?

At the shareholder meeting held on October 27, 2022, shareholders approved the election of all seven board members and the adoption of a new omnibus equity incentive plan.

What is the new omnibus equity incentive plan approved by Perimeter Medical Imaging AI?

The new omnibus equity incentive plan allows the issuance of stock options and units, reserving up to 12,834,531 common shares for awards.

Who were reappointed as auditors for Perimeter Medical Imaging AI for the next year?

KPMG LLP was reappointed as the auditor for Perimeter Medical Imaging AI for the ensuing year.