Annual General and Special Meeting
The Company is pleased to announce the voting results from its annual general and special meeting of the shareholders of the Company ('Shareholders') held on
At the Meeting, there were 3 Shareholders represented in person or by proxy holding 19,399,197 common shares in the capital of the Company (the 'Common Shares'), representing 22.32% of the issued and outstanding Common Shares as at the record date for the Meeting. Each nominee listed in the Company's management information circular dated
'PharmAla continues to make the important choices necessary for the future of both our business, and the
In addition, at the Meeting, (i) Shareholders reappointed
Corporate Update
RSU Grants
The Company is also pleased to announce the granting of an aggregate of 2,050,000 RSUs to certain directors, officers, employees and consultants of the Company pursuant to the Equity Incentive Plan. A total of 950,000 RSUs granted vest quarterly over a one-year period with the remaining 1,100,000 RSUs vesting quarterly over a two year period. All of the RSUs (and any Common Shares issuable upon their settlement) are subject to a four month and one day hold period pursuant to the policies of the CSE and applicable securities laws.
This is the first issuance of compensation securities to the Board and management since the Company's public listing in
Provision of Research Services
PharmAla has been contracted to provide research services to
PharmAla has also initiated discussions with
Sales Update
PharmAla has received a material purchase order for MDMA from a Canadian psychedelics company. At this time, PharmAla will not be disclosing the name of the company for business reasons.
For more information, please visit www.PharmAla.ca, where you can sign up to receive regular updates.
About PharmAla
Contact:
Chief Executive Officer
Email: press@PharmAla.ca
Phone: 1-855-444-6362
Website: www.PharmAla.ca
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement
This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words 'could', 'intend', 'expect', 'believe', 'will', 'projected', 'estimated' and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on PharmAla's current belief or assumptions as to the outcome and timing of such future events. Forward-looking information is based on reasonable assumptions that have been made by PharmAla at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. The forward-looking information contained in this press release is made as of the date hereof, and PharmAla is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. 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 PharmAla's management's discussion and analysis which is available on PharmAla's profile at www.sedar.com.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.
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