Dr. Madi Madiyalakan reports

QUEST PHARMATECH ANNOUNCES RESULTS FROM AGM

Quest Pharmatech Inc. has released the results of its July 13, 2023, annual general meeting of shareholders.

The following three directors have been re-elected to the company's board of directors:

• J. Mark Lievonen, CM, FCPA, FCA, LLD;
• Jeffrey Shon, JD;
• Dr. Madi R. Madiyalakan, PhD.

However, Quest shareholders voted 62.47 per cent against Shawn Lu, therefore, Mr. Lu was not elected as a director of Quest.

At the meeting, shareholders reappointed the company's auditor, Kingston Ross Pasnak LLP.

"I would like to thank our continuing Board members for their ongoing service and express my sincere appreciation to Mr. Shawn Lu for his past contributions", said Dr. Madiyalakan, chief executive officer of Quest. "I am confident that Quest's board of directors will be able to help the company execute its business strategy to add value to our shareholders."

Approximately 81,201,834 shares were voted for the company's shareholder meeting representing approximately 48 per cent of the company's shares eligible to vote.

On a corporate matter, Quest announces the granting of 1.55 million stock options to directors and officers, all at a volume-weighted average exercise price of eight cents per common share, expiring 10 years from the date of grant, subject to TSX Venture Exchange approval.

About Quest Pharmatech Inc.

Quest Pharmatech is a publicly traded, Canadian-based biopharmaceutical company developing products to improve the quality of life through investee companies and proprietary technologies. Quest is developing the proprietary MAb-AR9.6 targeting MUC16 as theranostic agents for cancer. MAb-AR9.6 was licensed from the University of Nebraska Medical Centre and currently is in late preclinical-stage development. The company also has a 42.5-per-cent ownership interest in OncoQuest Inc., which sold its immunotherapy technology assets to Korea-based Dual Industrial Co. Ltd. in April, 2020. Quest also has a 23-per-cent ownership interest in OncoVent, a Chinese joint venture developing antibody-based immunotherapeutic products for cancer for the Greater China territory.

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