20:1
Claritas receives shareholder OK for 1:20 rollback
2021-06-17 21:22 ET - News Release
Mr. Robert Farrell reports
CLARITAS ANNOUNCES RESULTS OF ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS
Claritas Pharmaceuticals Inc. held its annual general and special meeting of shareholders today. A total of 214,011,801 common shares (representing approximately 30.5% of all issued and outstanding common shares of the Company) were represented at the Meeting. Shareholders of the Company (the "Shareholders") voted in favor of all items of business put forth at the Meeting. The complete voting results for each item of business at the Meeting are presented below.
ELECTION OF DIRECTORS
Each of the three nominees listed in the Company's Management Information Circular dated May 7, 2021, was duly elected as a Director of the Company until the next annual meeting of the Shareholders of the Company or until their successor is appointed. All of the nominee directors were members of the Board of Directors of the Company prior to the Meeting.
APPOINTMENT OF INDEPENDENT AUDITORS
The Company's current auditors, BDO, were approved by the Shareholders to serve as the Company's auditors for the fiscal year 2021.
RENEWAL OF STOCK OPTION PLAN
The Company's Stock Option Plan was approved by the Shareholders, as required under the policies of the Toronto Venture Exchange (the "TSXV").
APPROVAL OF SHARE CONSOLIDATION
The Shareholders approved authorizing the Company's board of directors to affect a consolidation of all the Company's issued and outstanding Common Shares on the basis of one post-consolidation Common Share for up to 20 pre-consolidation Common Shares, or such lesser number of pre-Consolidation Common Shares as may be accepted by the TSXV and approved by the Company's Board, should the Board determine such consolidation to be in the best interests of the Company.
APPROVAL OF RETURN OF THE COMPANY'S GVHD PROGRAM TO THE FORMER SHAREHOLDERS OF TALENT BIOTECHS LTD. IN CONSIDERATION FOR RELEASE AND DISCHARGE OF DEBT
The Shareholders approved the transfer and sale to the former shareholders of Talent Biotechs Ltd. ("Talent") of all assets of the Company's program developing cannabidiol for the prevention and treatment of graft versus host disease ("GVHD") in consideration for the release and discharge by the former shareholders of Talent of all existing obligations that the Company and its subsidiaries have to such former shareholders of Talent.
The complete voting results for each item of business at the Meeting are presented below.
About Claritas Pharmaceuticals Inc.
Claritas Pharmaceuticals is a clinical stage biopharmaceutical company focused on developing and commercializing therapies for patients with significant unmet medical needs. Claritas focuses on areas of unmet medical need, and leverages its expertise to find solutions that will improve health outcomes and dramatically improve people's lives.