Genix Pharmaceuticals Corporation Announces AGM Results and Welcomes New Director
Vancouver, British Columbia--(Newsfile Corp. - September 22, 2020) - Genix Pharmaceuticals Corporation (TSXV: GENX) ("GENIX" or the "Company") announces the results of its annual general meeting of shareholders ("AGM") held in Vancouver, British Columbia on September 18, 2020.
Shareholders approved all the nominees listed in the management information circular (the "Circular"), which was mailed to GENIX shareholders of record as of August 17, 2020. The following were elected to the board of directors of the Company to hold office until the next annual meeting of shareholders or until their successors are duly appointed or elected.
|Sina Salehi Pirooz||Kevin James Bottomley|
|Jamie Lewin||Darryl Yea|
GENIX is pleased to announce the addition of Darryl Yea to the Company's Board of Directors which was approved at the AGM. Mr. Yea is currently president of Investco Capital Management Inc., a private Vancouver-based company that invests in a diverse range of businesses and projects and advises on mergers and acquisitions, corporate and strategic issues. He was formerly chairman, president and chief executive officer of Toronto Stock Exchange-listed Datawest Solutions Inc., a banking technology and payment processing company, and president and CEO of a publicly listed national financial services organization. Mr. Yea was a former member of the board of governors of the Vancouver Stock Exchange, the predecessor to the TSX Venture Exchange, and chaired several of its committees. Formerly a member of the faculty advisory board of the Sauder School of Business at the University of British Columbia, Mr. Yea also served on the boards of several other public companies including chairing special board committees that oversaw privatizations and divestitures. Most recently he served as chairman and lead director of Apteryx Imaging Inc. (TSXV: XRAY) which was acquired in an all cash transaction in August 2020 by a US private equity firm. He holds a Bachelor of Commerce degree from the University of British Columbia in both Urban Land Economics and Finance, and was a member of the Real Estate Institute of British Columbia and of the Institute of Certified Management Consultants of British Columbia.
In addition to the Nomination of the Directors for the ensuing year, shareholders received the audited consolidated financial statements of the Company for the year ended October 31, 2019 and approved all of the other resolutions detailed in the Circular and put forward at the AGM, namely:
- Re-appointing Buckley Dodds LLP Chartered Accountants as the auditor of the Company for the ensuing year and authorizing the directors to fix the auditor's remuneration; and
- Approving the Company's stock option plan for the ensuing year, reserving for grant options to acquire up to a maximum of 10% of the issued and outstanding shares of the Corporation.
The Company also announces that it has granted incentive stock options to purchase up to 300,000 common shares pursuant to the Company's stock option plan. The options are exercisable on or before September 18, 2025 at an exercise price of $0.30 per share. The options will have a 12-month vesting period whereby 50% of the option will be granted every 6 months. The grant of options is subject to regulatory approval.
Genix Pharmaceuticals Corporation is an innovative Canadian life sciences company focused on the research, development, manufacturing, sales and distribution of innovative, novel, evidence-based, branded and generic ophthalmic drugs and ophthalmic OTC products that have been shown to deliver consistent and verifiable results. The Company employs strict GMP pharmaceutical protocols for its product research & development and the manufacture of its nutraceutical and pharmaceutical products. Since its inception, the Company has been involved in the manufacturing and marketing of both nutraceutical and pharmaceutical products. The Company intends to continue developing novel and innovative ophthalmic products for sale through traditional retail outlets as well as direct to consumers and e-commerce platforms, in keeping with the evolving nature of the health care industry towards Integrative Medicine and Health ("IMH") and Complementary and Alternative Medicine ("CAM"). Genix intends to market its products in Canada, the USA, China, S.E. Asia, the United Kingdom and other selected countries.
Genix Pharmaceuticals Corporation is committed to providing safe, high quality and highly effective, evidence-based, ophthalmic drugs and OTC products to patients and consumers in Canada and globally, and to safely and effectively treat and prevent eye health issues and diseases.
On behalf of the Board,
Sina Pirooz, CEO, Director
Genix Pharmaceuticals Corporation
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