XRTX - XORTX Announces Rescheduling of Special Meeting of Shareholders | Benzinga
CALGARY, Alberta, Oct. 25, 2023 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. ("XORTX" or the "Company") (NASDAQ:XRTX, TSXV:XRTX, Frankfurt: ANU)), a late-stage clinical pharmaceutical company focused on developing innovative therapies to treat progressive kidney disease, announces that the special meeting of shareholders that was scheduled for 10:00 a.m. (Calgary time) on October 25, 2023 (the "Meeting") has been cancelled and will be rescheduled.
The Meeting had been called for shareholders to consider a consolidation of the Company's issued and outstanding shares in order for the Company to regain compliance with the continued listing requirements for the NASDAQ Capital Market.
As a result of the significant share volume during the past 30 days (in excess of 90 million shares traded on NASDAQ), XORTX believes that its shareholder base changed materially and is more aligned with US investors with a preference for a NASDAQ listing. In addition, the Company has become aware of potentially unusual proxy solicitation activities by a Canadian based investment advisor and that the Company believes provided misleading information to shareholders. The Company has provided details of these potentially unusual proxy solicitation efforts to the regulatory authorities in ...