TORONTO,
Aug. 19, 2014 /CNW/ - Lorus
Therapeutics Inc. (TSX: LOR) ("Lorus" or the "Company") today
announced voting results from the Company's annual and special
meeting of shareholders held on August
19th in Toronto (the
"Meeting").
The Company is pleased to announce that all of
the nominees listed in the management proxy circular dated
July 15, 2014 were elected as
directors. Each of the directors was elected by a majority of the
votes cast by shareholders present at the Meeting or represented by
proxy. The results of the vote are detailed below:
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Nominee |
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Votes For |
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% Votes For |
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Votes Withheld |
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% Votes
Withheld |
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Dr. Denis Burger |
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69,661,597 |
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92.25 |
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5,852,096 |
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7.75 |
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Dr. William G. Rice |
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74,411,586 |
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98.54 |
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1,102,107 |
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1.46 |
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Dr. Bradley Thompson |
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69,662,279 |
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92.25 |
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5,851,414 |
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7.75 |
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Dr. Brian Underdown |
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69,256,238 |
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91.71 |
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6,257,455 |
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8.29 |
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Dr. Mark D. Vincent |
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68,661,424 |
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90.93 |
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6,852,269 |
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9.07 |
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Warren Whitehead |
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69,662,623 |
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92.25 |
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5,851,070 |
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7.75 |
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Lorus shareholders also voted to re-appoint KPMG
LLP as auditor of the Company.
In addition, all other special resolutions
placed before the Meeting including (i) a change of the
corporate name to "Aptose Biosciences Inc." reflecting the
company's current corporate mission and focus (the "Name
Change"); and (ii) a consolidation of the common shares of the
Company at a ratio within the range of one (1) common share for
each five (5) to fifteen (15) common shares
(the "Share Consolidation") were approved by the required
majority of shareholders present at the Meeting or represented by
proxy.
"We are grateful for the high level of
shareholder support we have received in taking these and other
important steps in our company's transformation," said William G. Rice, Ph.D., Chairman, President and
Chief Executive Officer. "We have made rapid and significant
progress in defining the assets and the strategic path forward with
the greatest opportunity to build shareholder value. Based on
the growing scientific and clinical recognition for LOR-253 in
acute myeloid leukemia and other difficult to treat hematologic
cancers, we are committed to creating a preeminent drug development
company with the capabilities to advance important proprietary
anticancer therapeutics and companion diagnostics."
The Name Change will become effective at a date
in the future that will be determined by the board of directors of
the Company to be in the best interest of the Company. The
board of directors of the Company may also determine not to
implement the Name Change without further action on the part of or
notice to the shareholders.
The final consolidation ratio and the effective
date of the Share Consolidation will be determined by the board of
directors of the Company at a date in the best interest of the
company. The board of directors of the Company may also
determine not to implement the Share Consolidation without further
action on the part of or notice to the shareholders.
Finally, as of July 17, 2014, the Company has changed its
financial year end from May 31 to December
31. The change in the financial year end from May 31 to December 31 will allow the Company to
provide continuous disclosure information on a comparable basis
with its industry peer group.
Please refer to the Company's management proxy
circular available on SEDAR at www.sedar.com for more details on
the matters covered at the Meeting. Final voting results on all
matters voted on at the Meeting will also be filed on SEDAR.
About Lorus
Lorus is a clinical-stage biotechnology company
with a commitment to discovering and developing targeted therapies
addressing unmet medical needs in oncology. We aim to develop
therapeutics focused on novel cellular targets on the leading edge
of cancer research coupled to companion diagnostics to identify the
optimal patient population for our products. Our pipeline of cancer
drug candidates includes small molecule products and
immunotherapies providing additive or synergistic efficacy without
leading to overlapping toxicities with existing anti-cancer
regimens, facilitating the adoption of combination therapies. Lorus
Therapeutics Inc. is currently listed on the TSX under the symbol
LOR.
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of Canadian and U.S. securities laws
including regarding a potential listing on the NASDAQ Stock
Exchange, the Share Consolidation and the Name Change. Such
statements include, but are not limited to, statements relating to
Lorus' plans, objectives, expectations and intentions and other
statements including words such as "continue", "expect", "intend",
"will", "should", "would", "may", and other similar expressions.
Such statements reflect our current views with respect to future
events and are subject to risks and uncertainties and are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by us are inherently subject to
significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors could cause our
actual results, performance or achievements to be materially
different from any future results, performance or achievements
described in this press release. Such expressed or implied forward
looking statements could include, among others: our ability to
obtain the capital required for research and operations; the
inherent risks in early stage drug development including
demonstrating efficacy; development time/cost and the regulatory
approval process; the progress of our clinical trials; our ability
to find and enter into agreements with potential partners; our
ability to attract and retain key personnel; changing market
conditions; and other risks detailed from time-to-time in our
ongoing quarterly filings, annual information forms, annual reports
and annual filings with Canadian securities regulators and
the United States Securities and
Exchange Commission.
Should one or more of these risks or
uncertainties materialize, or should the assumptions set out in the
section entitled "Risk Factors" in our filings with Canadian
securities regulators and the United States Securities and Exchange
Commission underlying those forward-looking statements prove
incorrect, actual results may vary materially from those described
herein. These forward-looking statements are made as of the date of
this press release and we do not intend, and do not assume any
obligation, to update these forward-looking statements, except as
required by law. We cannot assure you that such statements will
prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements.
Investors are cautioned that forward-looking statements are not
guarantees of future performance and accordingly investors are
cautioned not to put undue reliance on forward-looking statements
due to the inherent uncertainty therein.
SOURCE Lorus Therapeutics Inc.