TORONTO, June 09, 2026 (GLOBE NEWSWIRE) -- Spectral Medical Inc. ("Spectral" or the "Company") (TSX: EDT), a late-stage theranostic company advancing therapeutic options for sepsis and septic shock, today announced the results of its Annual and Special Meeting of shareholders (the "Shareholders") held on June 8, 2026 (the "Meeting"). The Company confirms that all resolutions put forward in the Management Information Circular dated April 27, 2026 (the "Circular") to its Shareholders were approved.
Results of the matters voted on at the Meeting are set out below.
Election of Directors
Spectral's seven director nominees were elected:
| Nominee | Votes For (percent) | Votes Withheld (percent) |
| Jan D'Alvise | 98.51% | 1.49% |
| Jun Hayakawa | 99.83% | 0.17% |
| Chris Seto | 83.50% | 16.50% |
| William Stevens | 99.61% | 0.39% |
| Paul Walker | 94.28% | 5.72% |
| David W. Feigal, Jr. | 99.41% | 0.59% |
| Cristiano Franzi | 98.80% | 1.20% |
Appointment of Auditors
MNP LLP, Chartered Professional Accountants, was re-appointed as auditor of Spectral.
Votes For: 99.96%
Votes Withheld: 0.04%
Adoption of Omnibus Long Term Incentive Plan
A resolution approving the re-adoption of the Corporation’s omnibus long term incentive plan, as more particularly described in the Circular was passed.
Votes For: 84.39%
Votes Against: 15.61%
Approval of Consolidation
A special resolution authorizing the future amendment of the articles of the Company to consolidate all of the Company's issued and outstanding common shares (the "Shares"), on the basis of a consolidation ratio in the range of 1 post-consolidation Share for 5 pre-consolidation Shares to 1 post-consolidation Share for 10 pre-consolidation Shares to be selected by the board of directors of the Corporation (the "Board"), at such time as the Board so determines within 12 months of the date of the Meeting, was approved.
Votes For: 87.63%
Votes Against: 12.37%
About Spectral
Spectral is a Phase 3 company seeking U.S. FDA approval for its unique product for the treatment of patients with septic shock, Toraymyxin™ (“PMX”). PMX is a therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream and is guided by the Company’s FDA cleared Endotoxin Activity Assay (EAA™), the clinically available test for endotoxin in blood.
PMX is approved for therapeutic use in Japan and Europe, licensed by Health Canada, and has been used safely and effectively with over 360,000 units sold worldwide to date. In March 2009, Spectral obtained the exclusive development and commercial rights in the U.S. for PMX, and in November 2010, signed an exclusive distribution agreement for this product in Canada. In July 2022, the U.S. FDA granted Breakthrough Device Designation for PMX for the treatment of endotoxic septic shock. Approximately 330,000 patients are diagnosed with septic shock in North America each year.
The Tigris Trial is a confirmatory study of PMX in addition to standard care vs standard care alone and is designed as a 2:1 randomized trial of 150 patients using Bayesian statistics. Endotoxic septic shock is a malignant form of sepsis https://www.youtube.com/watch?v=6RANrHHi9L8.
The trial methods are detailed in “Bayesian methods: a potential path forward for sepsis trials”.
Spectral is listed on the Toronto Stock Exchange under the symbol EDT. For more information, please visit www.spectraldx.com.
Forward-looking statement
Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, particularly in respect of the future outlook of Spectral and anticipated events or results, are assumptions based on beliefs of Spectral’s senior management as well as information currently available to it. While these assumptions were considered reasonable by Spectral at the time of preparation, they may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties, including the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of Spectral to take advantage of business opportunities in the biomedical industry, the granting of necessary approvals by regulatory authorities as well as general economic, market and business conditions, and could differ materially from what is currently expected.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this statement.
For further information, please contact:
Ali Mahdavi
Capital Markets & Investor Relations
Spinnaker Capital Markets Inc.
416-962-3300
am@spinnakercmi.com
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