Zomedica Announces Letter to Shareholders in Connection With Annual and Special Virtual-Only Meeting  

Rhea-AI Summary

Zomedica Pharmaceuticals Corp. (NYSE American: ZOM) announced that its proxy solicitor, Alliance Advisors, mailed a letter urging shareholders to vote on Proposal 3 at the upcoming Annual and Special Virtual-Only Meeting on September 25, 2020. The proposal involves a reverse stock split at a ratio of 1-for-25 to 1-for-50, aimed at increasing the share price to maintain its NYSE listing. The company warns that failing to maintain this listing could result in a shift to over-the-counter trading, negatively impacting share liquidity and value. Shareholders are encouraged to vote their shares.

Positive

• The reverse stock split is expected to raise the share price, potentially attracting institutional investors.
• Maintaining the NYSE American listing could preserve liquidity for shareholders.

Negative

• Potential delisting from NYSE if the reverse stock split does not succeed, leading to OTC trading.
• Possible negative impact on share price due to liquidity concerns if delisted.

ANN ARBOR, Mich., Sept. 14, 2020 (GLOBE NEWSWIRE) -- Zomedica Pharmaceuticals Corp. (NYSE American: ZOM) announced today that its proxy solicitor, Alliance Advisors, mailed the following letter to selected shareholders in advance of its Annual and Special Virtual-Only Meeting of Shareholders to be held on September 25, 2020. 

Dear Zomedica Pharmaceuticals Corp. Shareholder:

Our records reflect that you have not yet voted your shares with respect to Proposal 3 to be acted upon at the Annual and Special Virtual-Only Meeting of Zomedica Pharmaceuticals Corp. to be held on Friday, September 25, 2020 at 8:30 a.m., Eastern time, pursuant to which shareholders are being asked to approve a reverse stock split, or consolidation, of our common shares at a ratio between one-for-25 and one-for-50.

The reverse stock split is intended to increase the per share trading price of our common shares in order to maintain the listing of the common shares on the NYSE American exchange. The board believes that it is in the best interest of shareholders to effect a reverse split to maintain our NYSE American listing. Additionally, increasing the trading price of our common shares could increase the interest of institutional and other investors in our common shares and may expand the pool of investors that may consider investing in our company. If we are unable to maintain our NYSE American listing, our common shares would cease to trade on the NYSE American and would trade in the over-the-counter market on either the OTC Bulletin Board or the “pink sheets” maintained by the National Quotation Bureau. We believe the loss of our NYSE American listing would significantly impact the liquidity of your common shares and could negatively affect the trading price of your common shares. As a result, the board recommends that you vote your shares FOR Proposal 3.

Please note that the reverse stock split will affect all of our shareholders uniformly and will not affect any shareholder’s percentage ownership interest or proportionate voting power, except for minor adjustment due to fractional shares.

Please vote your shares today by calling (833) 670 – 0700 Monday through Friday, 9:00 a.m. to 10:00 p.m. Eastern Time.

Alternatively, if you wish you can email me your voting instructions at mcarlson@allianceadvisors.com.

Sincerely,

Melissa Carlson

Vice President

About Zomedica

Based in Ann Arbor, Michigan, Zomedica (NYSE American:ZOM) is a veterinary health company creating products for companion animals (canine, feline and equine) by focusing on the unmet needs of clinical veterinarians. Zomedica’s product portfolio will include innovative diagnostics and therapeutics that emphasize patient health and practice health. With a team that includes clinical veterinary professionals, it is Zomedica’s mission to provide veterinarians the opportunity to lower costs, increase productivity, and grow revenue while better serving the animals in their care. For more information, visit www.ZOMEDICA.com.

Follow Zomedica

• Email Alerts: http://investors.zomedica.com
• LinkedIn: https://www.linkedin.com/company/zomedica

Additional Information

Zomedica Pharmaceuticals Corp. has prepared a Management Proxy Circular and Proxy Statement dated August 6, 2020, as well as a supplement thereto dated August 20, 2020 (collectively, the “Circular”). The Circular is being provided to shareholders pursuant to notice and access procedures under applicable securities laws that we are utilizing in connection with the meeting, and also may be accessed at the Company’s profile on EDGAR in the United States at www.sec.gov and on SEDAR in Canada at www.SEDAR.com. Further, copies of the Circular may be obtained from our proxy solicitor, Alliance Advisors at pcasey@allianceadvisors.com. Shareholders are strongly advised to read the Circular and related meeting materials before voting on matters to be considered at the meeting.

Investor Relations & Media Contact:
PCG Advisory Group
Kirin Smith, COO
ksmith@pcgadvisory.com
+1 646.863.6519
www.pcgadvisory.com

FAQ

What is the purpose of Zomedica's reverse stock split proposal?

The reverse stock split aims to increase the trading price of shares to maintain Zomedica's NYSE American listing.

When is Zomedica's Annual and Special Virtual-Only Meeting?

The meeting is scheduled for September 25, 2020, at 8:30 a.m. Eastern Time.

What could happen if Zomedica loses its NYSE American listing?

If Zomedica loses its NYSE listing, shares may trade on the over-the-counter market, which could negatively impact liquidity and share value.

What is the proposed ratio for Zomedica's stock split?

The proposed reverse stock split ratio is between 1-for-25 and 1-for-50.

How can Zomedica shareholders vote on the proposal?

Shareholders can vote by calling Alliance Advisors or by emailing their voting instructions.