IOT:CC - Innovotech Announces Annual General and Special Meeting Results
(TheNewswire)
Edmonton, 16 July 2024 – TheNewswire – Innovotech Inc. (TSX-V:IOT ) (the “Company ”)concluded its annual general and special meeting of shareholders on 16July 2024. Shareholders voted in favor of all matters, whichincluded 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 GroupLLP as the Company auditors for the next fiscal year and adopted anOmnibus Security Based Compensation Plan as outlined in theInformation Circular in advance of the meeting. The Omnibus SecurityBased Compensation Plan will enable more flexible performancereward-based compensation for the Company.
The Company’s board also approved a grant of 250,000incentive stock options exercisable at $0.20 per share to fivedirectors in the amount of 50,000 per director. The options are forfive years and expire on 15 July 2029. The options are priced wellabove market closing to continue to shift the focus on performance andfuture growth for the company.
About Innovotech Inc:
Innovotech is a Canadian biotechnology company owningproprietary intellectual property, conducting contract research, andowning and providing proprietary devices for testing in multipleapplications in microbiology and can be found online at www.innovotech.ca .
Craig Milne, MBA PhD
Chief Executive Officer Innovotech Inc.
+1-604-239-1819 craig.milne@innovotech.ca
This document may containforward-looking statements that are predictive in nature and subjectto risks and uncertainties that cannot be predicted or quantified;consequently, actual results may differ materially from past resultsand those expressed or implied by any forward-looking statements.Factors that could cause or contribute to such risks or uncertaintiesinclude, but are not limited to: the regulatory environment includingthe difficulty of predicting regulatory outcomes; changes in the valueof the Canadian dollar; the Company’s reliance on a small number ofcustomers including government organizations; fluctuations inoperating results; government policies or actions; progress and costof clinical trials; reliance on key strategic relationships;uncertainty related to intellectual property protection and potentialcosts associated with its defense; the Company’s exposure tolawsuits and other matters beyond the control of management. Shouldknown or unknown risks or uncertainties materialize, or shouldmanagement’s assumptions prove inaccurate, actual results could varymaterially from those anticipated. The Company undertakes noobligation to publicly make or update any forward- looking statements,except as required by applicable law.
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
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