MediPharm Announces Voting Results from the 2025 Annual and Special Meeting of Shareholders

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TORONTO, June 17, 2025 (GLOBE NEWSWIRE) -- MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE: MLZ) ('MediPharm' or the 'Company'), a pharmaceutical company specialized in precision-based cannabinoids, today announced the results of matters voted on at its annual and special meeting (the 'Meeting') of holders of common shares ("Shareholders") held today.
There were 146 Shareholders represented virtually or by proxy at the Meeting holding an aggregate of 210,726,733 common shares, representing 50.76% of MediPharm's total issued and outstanding common shares as at the record date for the Meeting. As the Meeting was held virtually, all resolutions were passed by way of ballot.
Shareholders approved the resolution to fix the number of directors at seven, approved the resolution appointing MNP LLP as auditors, elected all seven management director nominees and approved the resolution relating to unallocated awards under the Company's equity incentive plan. Complete voting results for each of the matters presented at the Meeting are provided below.
Board Changes
The Company welcomes new directors Emily Jameson and John Medland to the Board. Michael Bumby did not stand for re-election as a director at the Meeting. The Board thanks Mr. Bumby for his invaluable contributions. He was instrumental in the transformative VIVO acquisition which has helped set MediPharm up for its next phase of growth.
Complete Voting Results from the Meeting
1. Setting the Number of Directors at Seven
The special resolution to fix the number of directors of the Company at seven (7) was approved by Shareholders. Voting results are as set out below:
Votes For
Votes Against
#
%
#
%
159,023,437
75.46
51,703,294
24.54
2. Election of Directors
Each of the Company's nominees were elected as directors of MediPharm for the ensuing year or until their successors are elected or appointed. Voting results for each director nominee are as set out below:
Nominee
#
Management Nominees
Chris Halyk
144,007,422
Emily Jameson
144,289,930
John Medland
144,182,233
David Pidduck
142,961,350
Shelley Potts
144,156,682
Keith Strachan
140,531,927
Chris Taves
143,500,811
Dissident Nominees
John Fowler
51,801,045
Alan D. Lewis
51,681,657
David Lontini
51,611,107
Demetrios Mallios
51,531,594
Regan McGee
51,634,357
Scott Walters
51,677,144
3. Appointment of Auditor
MNP LLP, Chartered Professional Accountants, was appointed as auditor of MediPharm until the next annual meeting of the holders of the Shareholders at remuneration to be fixed by the directors. Voting results are as set out below:
Votes For
Votes Withheld
#
%
#
%
191,303,393
90.78
19,423,340
9.22
4. Approval of Unallocated Awards Under Equity Incentive Plan
A resolution to approve, among other things, the unallocated awards available under the Company's equity incentive plan was approved by Shareholders. Voting results are as set out below:
Votes For
Votes Against
#
%
#
%
101,750,700
50.14%
101,162,710
49.86
About MediPharm Labs
Founded in 2015, MediPharm Labs specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients (API) and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard-built clean rooms. MediPharm Labs has invested in an expert, research driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities for delivery of pure, trusted and precision-dosed cannabis products for its customers. MediPharm Labs develops, formulates, processes, packages and distributes cannabis and advanced cannabinoid-based products to domestic and international medical markets.
In 2021, MediPharm Labs received a Pharmaceutical Drug Establishment License from Health Canada, becoming the only company in North America to hold a commercial-scale domestic Good Manufacturing Practices License for the extraction of multiple natural cannabinoids. This GMP license was the first step in the Company's current foreign drug manufacturing site registration with the US FDA.
In 2023, MediPharm acquired VIVO Cannabis Inc., which expanded MediPharm's reach to medical patients in Canada via Canna Farms medical ecommerce platform, and in Australia and Germany through Beacon Medical Australia PTY Ltd. and Beacon Medical Germany GMBH. This acquisition also included Harvest Medical Clinics in Canada which provides medical cannabis patients with Physician consultations for medical cannabis education and prescriptions.
The Company carries out its operations in compliance with all applicable laws in the countries in which it operates.
Investor Contact:
MediPharm Labs Investor RelationsTelephone: +1 416.913.7425Email: [e-mail]
Media Contact:
John VincicOakstrom Advisors+1 (647) [e-mail]
Cautionary Note Regarding 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 are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability of MediPharm to obtain adequate financing; the delay or failure to receive regulatory approvals; and other factors discussed in MediPharm's continuous disclosure filings, available on the SEDAR+ website at www.sedarplus.ca. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, MediPharm assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.