Company Website:
https://covalon.com/
MISSISSAUGA, Ontario -- (Business Wire)
Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV; OTCQX: CVALF), an advanced medical technologies company, today announced the results of the matters voted upon at its fiscal 2025 Annual General and Special Meeting of Shareholders (the "Meeting") held on March 25, 2026.
Shareholders voted in favour of all items of business at the Meeting and each item of business was approved by the requisite number of votes. The approved matters included (i) the election of the Board of Directors, (ii) the appointment of PricewaterhouseCoopers LLP as auditors, (iii) an amendment to the Company's articles to permit the Company to create and issue classes of preferred shares and add such preferred shares to the authorized capital of the Company, (iv) the Company's amended and restated by-law no. 1 and repeal of by-law no. 2, (v) the new advance notice by-law, (vi) the Company's amended and restated long-term omnibus incentive plan, and (vii) options granted to Ms. Crooks, the Company's Chief Operating Officer, during fiscal year 2025. The total number of shares represented at the Meeting, either in person or by proxy, totaled 10,157,014 or 36.777%.
As shareholders approved all items of business at the Meeting, the Board of Directors adopted (i) the amendment to the Company’s articles, (ii) the amended and restated by-law no. 1 and repeal of by-law no. 2, and (iii) the advance notice by-law, as of the Meeting date, in addition to the other items of business approved by shareholders.
The detailed voting results of the Meeting are below.
1) The election of the Board of Directors:
Name of Nominee
|
Votes FOR
|
%
|
Votes WITHHELD
|
%
|
Brent Ashton
|
9,829,849
|
99.997
|
301
|
0.003
|
Joseph Cordiano
|
9,812,747
|
99.823
|
17,403
|
0.177
|
Kim Crooks
|
9,812,747
|
99.823
|
17,403
|
0.177
|
Martin Goldfarb
|
9,807,847
|
99.773
|
22,303
|
0.227
|
Samantha Nutt
|
9,824,249
|
99.940
|
5,901
|
0.060
|
Abe Schwartz
|
9,807,847
|
99.773
|
22,303
|
0.227
|
Ron Smith
|
9,812,747
|
99.823
|
17,403
|
0.177
|
2) The appointment of PricewaterhouseCoopers LLP as auditor:
Votes FOR
|
%
|
Votes WITHHELD
|
%
|
10,156,713
|
99.997
|
301
|
0.003
|
3) Special resolution to approve an amendment to the articles to authorize the Board of Directors to create and issue classes of preferred shares and add such preferred shares to the authorized capital of the Company:
Votes FOR
|
%
|
Votes AGAINST
|
%
|
8,761,942
|
89.133
|
1,068,208
|
10.867
|
4) Ordinary resolution to approve (i) the amended and restated by‑law no. 1 and (ii) the repeal of the current by-law no. 2:
Votes FOR
|
%
|
Votes AGAINST
|
%
|
9,712,670
|
98.805
|
117,480
|
1.195
|
5) Ordinary resolution to approve the new advance notice by‑law:
Votes FOR
|
%
|
Votes AGAINST
|
%
|
9,718,270
|
98.862
|
111,880
|
1.138
|
6) Ordinary resolution to approve the Company's amended and restated omnibus long-term incentive plan:
Votes FOR
|
%
|
Votes AGAINST
|
%
|
9,738,652
|
99.069
|
91,498
|
0.931
|
7) Ordinary resolution to approve the grant of 150,000 options granted to Ms. Crooks, Chief Operating Officer, during the Company's 2025 fiscal year:
Votes FOR
|
%
|
Votes AGAINST
|
%
|
1,603,222
|
96.045
|
66,016
|
3.955
|
Final voting results of all matters voted on at the Meeting will be filed on SEDAR+ at http://www.sedarplus.ca/ and further details of the voted matters can be found in the Company's management information circular dated February 6, 2026.
A copy of management's presentation is available on Covalon's website at https://ir.covalon.com/events-and-presentations/events/event-details/2026/Annual-Meeting-of-Shareholders-2026-PpitSBIh0v/default.aspx. A recording of the Meeting will also be made available on that page in the near future.
Those interested in learning more about Covalon can visit www.covalon.com or follow Covalon on LinkedIn, Facebook, or Instagram, or X.
About Covalon
Covalon is a leading MedTech company dedicated to improving patient outcomes through innovative and compassionate medical products and technologies. Our expertise spans advanced wound care, vascular access, and surgical consumables, with a strong focus on enhancing healing, reducing healthcare-associated infections (HAIs), and protecting skin integrity. Our solutions are designed for patients and made for care providers. The Company is listed on the TSX Venture Exchange (COV) and trades on the OTCQX Market (CVALF). To learn more about Covalon, visit our website at www.covalon.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260326398920/en/
Contacts:
To learn more about Covalon, please contact:
Brent Ashton, Chief Executive Officer, Covalon Technologies Ltd.
Email: investors@covalon.com
Phone: 1.877.711.6055
Website: https://covalon.com/
Source: Covalon Technologies Ltd.
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