(TheNewswire)
Winnipeg – TheNewswire - June 27, 2024 - Cytophage Technologies Ltd. (TSXV:CYTO) (“Cytophage” or the “Company”), the only publicly traded phage company that is focused on bacteriophage solutions for both animal health and human health, is pleased to report the results of its annual general meeting (the "AGM") of shareholders held on June 25, 2024 in Toronto, ON.
At the AGM, shareholders elected the slate of directors proposed in the Management Information Circular dated May 24, 2024 (the “Circular”) which was sent to shareholders in connection with the AGM, including new member Michael Sorkin, a 30+ year commercial sales and marketing veteran of medical devices and services around the world, further expanding the Company’s expertise in getting products to market.
Chairman of the Board Harold Wolkin commented: “Since going public in early February, we have managed to build a high-calibre board that I am proud to chair. On behalf of all directors, I welcome Michael to our ranks, and I look forward to incorporating the commercialization expertise he brings to the table. Andy Hurley decided not to stand for re-election to the board, and I would like to thank him for his insights and contributions to the organization.”
Michael Sorkin brings invaluable global commercial experience in medical devices and services, having launched and developed diverse and inclusive organizations for KMT Medical, Hollister, and Boston Scientific. Since 1995, Michael has led and has had full P&L responsibility for country and regional commercial operations while living in Europe, Australia/NZ, Japan, Asia, and the US. Most recently, as Managing Director of KMT Medical, Chair of the KMT Management Board, and member of the Executive Committee, Michael had full P&L responsibility for a 10-country, multi-national homecare business.
Prior to KMT, Michael was Chief Commercial Officer of Hollister, a $1B commercial organization, where revenue and profits grew significantly through the commercialization of groundbreaking new products and by improving leadership and sales and marketing practices. Michael was previously VP Europe for Hollister, and before that, VP of Asia and Latin America. Michael was promoted to Corporate Officer in 2016 and to Executive Vice President in 2018. Previously, during 22 years at Boston Scientific, Michael led rapidly growing businesses in Europe and Asia ranging from start up to $400M.
AGM Voting Results
A total of 14,550,162 common shares were voted at the AGM either in person or by proxy, representing 26.068% of the total issued and outstanding common shares of the Company.
All matters presented to the shareholders for approval at the AGM were approved by shareholders, including:
(1) Fixing the number of directors to be elected at eight (8) persons and electing Harold Wolkin, Dr. Steven Theriault, Robert Gabor, KC, Dr. Shantha Kodihalli, Will Ollerhead, Michael D. Cochrane, John Snisarenko and Michael Sorkin as directors for the ensuing year;
(2) Re-appointing McGovern Hurley LLP as auditors for the Company for the ensuing year and authorizing the Directors to fix the auditors’ remuneration; and
(3) approving the Company’s new form of Equity Incentive Plan, which plan was attached to the Circular as Schedule “A”.
The Report of Voting Results has been filed under the SEDAR+ profile at www.sedarplus.ca.
Cytophage will hold an investor call on July 9, 2024 at 11:00am ET via Zoom to discuss recent developments in the human health and animal health portfolios. Below is the Zoom link: Cytophage Investors Meeting July 9 2024.
For further information please contact:
Heather Medwick
Chief Operating Officer
heather@cytophage.com
431 388 8873
Cytophage Investor Alerts: https://cytophage.com/subscribe/
About Cytophage Technologies
Cytophage Technologies (TSXV:CYTO) is a pioneering biotechnology company dedicated to bacteriophage research, product development and commercialization. Committed to addressing the global challenge of antibiotic resistance, Cytophage advances innovative products that harness the power of bacteriophages to combat bacterial infections affecting human health, animal health, and food security.
Cautionary Statement on Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Cytophage to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are
described under the caption “Risk Factors” in Cytophage’s Filing Statement dated January 30, 2024, which is available for view on SEDAR+ at www.sedarplus.ca. These risks include but are not limited to, the risks associated with the bacteriophage industry, such as operational risks in development or capital expenditures, the uncertainty of extensive regulatory approval requirements, government regulations, protection of intellectual property, product liability and rapid technological advancements. Forward-looking statements contained herein are made as of the date of this press release, and Cytophage disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
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