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BLACKFALDS, ALBERTA -- (Marketwired) -- 06/30/17 -- Hemostemix Inc. ("Hemostemix" or the "Company") (TSX VENTURE: HEM) today announces that at the Annual and Special Meeting of Shareholders (the "Meeting") held on June 29, 2017, shareholders overwhelmingly approved (i) fixing the number of directors on the Company's board of directors (the "Board") at three, (ii) electing three directors, namely Angus H. Jenkins, David L. Wood and Donald E. Friesen to the Board, (iii) the re-appointment of MNP LLP, Chartered Accountants, as auditors, (iv) the re-approval of Hemostemix's rolling stock option plan and (v) the secured credit transaction with Wood Capital Ltd. as further described in the Management Information Circular dated May 25, 2017 and the earlier press release of the Company dated April 10, 2017.
The Company is sincerely appreciative of the support of its shareholders throughout what has been a challenging period. Its further confirmed new leadership will continue to strive to not only reduce operating expenses and avoid similar tumult, but also to provide further enhanced, cohesive management that will promote greater transparency, and enhance value for all shareholders.
ABOUT HEMOSTEMIX INC.
Hemostemix is a public clinical-stage biotechnology company that develops and commercializes innovative blood-derived cell therapies for medical conditions not adequately addressed by current treatments. It is the first clinical-stage biotech company to test a stem-cell therapy in an international, multicenter, phase 2 clinical trial for patients with critical limb ischemia (CLI), a severe form of peripheral artery disease (PAD) caused by reduced blood flow to the legs. The phase 2 trial targets a participant's diseased tissue with proprietary cells grown from his or her blood that can support the formation of new blood vessels.
Hemostemix Inc. is traded on the TSX Venture Exchange under the trading symbol HEM. To find out more visit hemostemix.com or email firstname.lastname@example.org.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined under the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," and similar expressions, or that events or conditions "will," "would," "may," "could," or "should" occur. Although Hemostemix believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of Hemostemix management on the date such statements were made. By their nature forward-looking statements are subject to known and unknown risks, uncertainties, and other factors which may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the Company's stage of development, long-term capital requirements and future ability to fund operations, future developments in the Company's markets and the markets in which it expects to compete, risks associated with its strategic alliances and the impact of entering new markets on the Company's operations. Each factor should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. Hemostemix expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.Contacts: Hemostemix Inc. Kyle Makofka Chief Restructuring Officer (403) 506-3373 NEXT ARTICLE
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