Innovotech Announces Annual General and Special Meeting Results

(via TheNewswire)

 

Edmonton, 16 July 2024 –TheNewswire –Innovotech Inc. (TSX-V:IOT ) (the “Company ”) concluded its annual general and special meeting of shareholders on 16 July 2024.  Shareholders voted in favor of all matters, which included the re-election of James Timourian, Karen Farkas, David Tam, Julie Wright, and Craig Milne as directors of the Company.  

Shareholders approved the appointment of D&H Group LLP as the Company auditors for the next fiscal year and adopted an Omnibus Security Based Compensation Plan as outlined in the Information Circular in advance of the meeting.  The Omnibus Security Based Compensation Plan will enable more flexible performance reward-based compensation for the Company.  

The Company’s board also approved a grant of 250,000 incentive stock options exercisable at $0.20 per share to five directors in the amount of 50,000 per director. The options are for five years and expire on 15 July 2029.  The options are priced well above market closing to continue to shift the focus on performance and future growth for the company.  

About Innovotech Inc:

Innovotech is a Canadian biotechnology company owning proprietary intellectual property, conducting contract research, and owning and providing proprietary devices for testing in multiple applications in microbiology and can be found online atwww.innovotech.ca.

Craig Milne, MBA PhD

Chief Executive Officer          Innovotech Inc.

[phone]                [e-mail]

This document may contain forward-looking statements that are predictive in nature and subject to risks and uncertainties that cannot be predicted or quantified; consequently, actual results may differ materially from past results and those expressed or implied by any forward-looking statements. Factors that could cause or contribute to such risks or uncertainties include, but are not limited to: the regulatory environment including the difficulty of predicting regulatory outcomes; changes in the value of the Canadian dollar; the Company’s reliance on a small number of customers including government organizations; fluctuations in operating results; government policies or actions; progress and cost of clinical trials; reliance on key strategic relationships; uncertainty related to intellectual property protection and potential costs associated with its defense; the Company’s exposure to lawsuits and other matters beyond the control of management. Should known or unknown risks or uncertainties materialize, or should management’s assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly make or update any forward- looking statements, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

###

Copyright (c) 2024 TheNewswire - All rights reserved.

Copyright (c) 2024 TheNewswire - All rights reserved., source Press Releases