Vivione shareholders approve all matters at AGM

2015-10-14 13:00 ET - News Release

 

Mr. Kevin Kuykendall reports

VIVIONE BIOSCIENCES INC. ANNOUNCES RESULTS OF ANNUAL AND SPECIAL MEETING

Vivione Biosciences Inc. held its annual and special meeting of the Class A shareholders and special meeting of the Class B shareholders on Oct. 13, 2015. A quorum of the corporation's outstanding Class A common shares and Class B common shares as of the record date of Aug. 26, 2015, was present in person or by proxy at the meeting.

On Sept. 15, 2015, the corporation announced entering into an agreement with Montalcino Holdings I LLC with respect to an investment of up to $2.5-million (U.S.) in its wholly owned U.S. operating subsidiary, Vivione Biosciences LLC, constituting an effective sale or exchange of all or substantially all of the assets of the corporation. At the meeting, the Class A common shareholders and Class B common shareholders voted, as a single class, in favour of a special resolution approving the sale or exchange of all or substantially all of the assets of the corporation pursuant to the investment, as more particularly described in the corporation's management information circular dated Sept. 14, 2015. It is expected that, subject to final approval by the TSX Venture Exchange, the investment will close on Oct. 15, 2015.

At the meeting, the Class A common shareholders also considered and approved resolutions as follows: the number of directors of the corporation was fixed at six; Kevin Kuykendall, Philip Tuttle, Lal Narang, Ian E. Gallie, Dr. James Hendren and Glenn Smith were all separately re-elected to Vivione's board of directors; Grant Thornton LLP, chartered accountants, Vivione's auditor, was reappointed for the coming fiscal year; and the corporation's stock option plan was confirmed and ratified.