13:27:08 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Sirona Biochem Corp
Symbol SBM
Shares Issued 210,200,451
Close 2019-06-20 C$ 0.54
Market Cap C$ 113,508,244
Recent Sedar Documents

Sirona Biochem shareholders approve matters at AGM

2019-06-20 14:12 ET - News Release

Dr. Howard Verrico reports

SIRONA BIOCHEM REPORTS 2019 AGM VOTING AND CEO UPDATE

Sirona Biochem Corp. has released the voting results from its annual general meeting of shareholders held in Vancouver, B.C., on June 20, 2019. The total number of shares represented by shareholders present in person and by proxy at the meeting was 32,141,666, representing 15.47 per cent of Sirona's issued and outstanding common shares.

All of the matters put forward before shareholders for consideration and approval as set out in the company's management information circular dated May 22, 2019, were approved by the requisite majority of votes cast at the meeting. The details of the voting results for the election of directors are set out in the attached table.

Nominee                              Number of   % votes for
                                     votes for

Geraldine Deliencourt-Godefroy      31,845,566         99.1%       
Dr. Howard Verrico                  31,595,566         98.3%       
Christopher Hopton                  31,595,566         98.3%       
Alex Marazzi                        31,595,566         98.3%       
Jason Tian                                Appointed director

The shareholders also approved: (i) fixing of the number of directors of the company at five; (ii) appointing MNP LLP, chartered accountants, as the company's auditor for the ensuing year and authorizing the directors to set the auditor's remuneration; and (iii) confirming and approving the company's existing stock option plan.

The company will file a report of voting results on all resolutions voted on at the meeting on SEDAR shortly.

Chief executive officer annual general meeting update

Dear shareholders,

I would like to take this opportunity to thank you for the continued support of Sirona. It is of great satisfaction to have over 98 per cent of votes cast to support the current management team. This has been an exciting breakthrough year, and we are grateful that you have remained on board with us, sharing our successes of Sirona's novel platform technology.

Rodan + Fields has completed extensive due diligence on TFC-1067. This included both the data package provided by Sirona as well as its independent research and analysis on the compound. Rodan + Fields, the No. 1 skin care brand in North America in terms of total sales, is now moving our novel skin lightener toward full commercialization. The anticipated definitive agreement with Rodan + Fields has enormous value to Sirona, far beyond North America.

It is particularly important for our European shareholders to understand that Rodan + Fields utilizes approximately 300,000 consultants to sell products. Its skin care starter kits are aimed at reducing the appearance of lines, dark spots and acne in adult women. Rodan + Fields are a perfect fit for Sirona and vice versa. We are confident Rodan + Fields will deliver industry-leading products incorporating Sirona's skin lightener TFC-1067.

After the heavy lifting is done and while we work together with Rodan + Fields through the stages of commercialization, further partners for other sales channels and regions will beat a path to our door. The discussions with our potential TFC-1067 partner for China are also nearing completion.

We anticipate more exciting news from China as Wanbang's management meets to approve the release of information. We are also in advanced discussions on a large new project with a global corporation that we hope to share with you in Q4 2019.

The current market capitalization for Sirona Biochem has increased substantially thanks to positive company developments as well as growing shareholder support. Sirona's management has now decided to establish a shareholder rights plan (poison pill) and has asked our legal counsel to take the necessary steps to put this in place.

The adoption of the poison pill is intended to protect Sirona Biochem and its shareholders from the actions of third parties that the board of directors determines are not in the best interests of Sirona Biochem and its shareholders and to enable all shareholders to realize the long-term value of their investments in Sirona Biochem.

The board of directors believes that the poison pill will ensure that the board of directors remains in the best position to discharge its fiduciary duties to Sirona Biochem and its shareholders. The poison pill is not intended to interfere with any sale, merger, tender, exchange offer or other business combination approved by the board of directors; nor does the poison pill prevent the Sirona Biochem board of directors from considering any offer that it deems to be in the best interest of Sirona Biochem's shareholders.

We have exciting times ahead of us.

Sincerely,

Dr. Howard Verrico, chief executive officer

About Sirona Biochem Corp.

Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.

Sirona's compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and continuing royalty payments.

We seek Safe Harbor.

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