TORONTO--(BUSINESS WIRE)--Antibe Therapeutics Inc. ("Antibe" or the “Company”) (TSXV: ATE, OTCQB: ATBPF) is pleased to announce the results of its annual general and special meeting held yesterday. All resolutions proposed to the shareholders were approved, including:
- The election of directors (Roderick Flower, Amal Khouri, Daniel Legault, Walt Macnee, John Wallace and Yung Wu);
- The re-appointment of Ernst & Young LLP, Chartered Accountants as Antibe's auditors;
- The adoption of the new Restricted Share Unit ("RSU") Plan;
- The option, at the discretion of the Company’s Board, to consolidate Antibe’s common shares at a ratio within a predetermined range at any time prior to May 29, 2019; and
- A standard Advance Notice by-law for future nominations of directors by shareholders.
In addition, the Company has granted a new employee options to purchase a total of 100,000 common shares of the Company pursuant to its stock option plan. Each option has an exercise price of $0.37, being yesterday’s closing price of Antibe’s shares, and an expiry date of June 25, 2028. Twenty-five percent of the granted options vest on the grant date and 1/36th of the remaining options vest in each of the subsequent 36 months. The Company also granted BND Projects Inc. 18,000 options for investor relations services. Each option has an exercise price of $0.38, being the 5-day volume weighted average price of Antibe’s shares, vests quarterly starting on the date of the grant, and will expire June 25, 2021.
About Antibe Therapeutics Inc.
Antibe develops safer medicines for pain and inflammation. Antibe’s technology involves linking a hydrogen sulfide-releasing molecule to an existing drug to produce a patented, improved medicine. Antibe’s lead drug ATB-346 targets the global need for a safer, non-addictive drug for chronic pain and inflammation. ATB-352, the second drug in Antibe’s pipeline, targets the urgent global need for a non-addictive analgesic for treating severe acute pain, while ATB-340 is a GI-safe derivative of aspirin. www.antibethera.com.
Antibe’s subsidiary, Citagenix Inc. (“Citagenix”), is a leader in the sales and marketing of tissue regenerative products servicing the orthopedic and dental marketplaces. Since its inception in 1997, Citagenix has become an important source of knowledge and experience for bone regeneration in the Canadian medical device industry. Citagenix is active in 15 countries, operating in Canada through its direct sales teams, and internationally via a network of distributor partnerships. www.citagenix.com.
Forward Looking Information
This news release includes certain forward-looking statements, which may include, but are not limited to, the proposed licensing and development of drugs and medical devices. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "will", "anticipate", "believe", "plan", "estimate", "expect", "intend", "propose" and similar expressions. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the Company’s inability to secure additional financing and licensing arrangements on reasonable terms, or at all, its inability to execute its business strategy and successfully compete in the market, and risks associated with drug and medical device development generally. Antibe Therapeutics Inc. assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.