Perimeter Medical Imaging AI Announces Annual Meeting Results, Amendment to Incentive Plan and Changes to Board of Directors

TORONTO and DALLAS, Dec. 29, 2025 /CNW/ - Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (OTCQX: PYNKF) ("Perimeter" or the "Company"), a commercial-stage medical technology company, today announced results from its Annual General and Special Meeting of Shareholders that was held today (the "Meeting").

All of the matters put forward before the shareholders, as set out in the Company's management information circular dated November 28, 2025 (the "Information Circular"), were approved by the requisite majority of votes cast at the Meeting.

Director Election and Resignation

At the Meeting, the shareholders of the Company elected the following individuals to the board of directors of the Company (the "Board") to hold office until the next annual meeting of shareholders or until their successors are duly elected or appointed: Suzanne M. Foster, Aaron Davidson, Joshua G. Vose, Michelle Caron and Adrian Mendes.

Following the Meeting, Ms. Caron resigned from the Board and informed the Company that, due to personal reasons, she would be unable to serve as a director of the Company for the time being.

The Company's Board is currently comprised of Suzanne M. Foster, Aaron Davidson, Joshua G. Vose and Adrian Mendes.

"Due to unforeseen personal reasons, Michelle was unable to join the Board following this year's Annual Meeting.  During our extensive vetting process, Michelle distinguished herself significantly above the other candidates, and I look forward to pursuing future opportunities for Michelle with the Company when the time is right," said Perimeter's CEO Adrian Mendes. "Our Board remains aligned as we execute on our strategy to advance the AI-powered B-Series toward regulatory approval in the first half of 2026, which we believe represents a key inflection point for the Company."  

Appointment of Auditors

The Company's shareholders approved the appointment of KPMG LLP as the auditor for the Company to hold office until the close of the next annual meeting or until its successor is duly appointed, at such remuneration as may be determined by the Board.

Amendment to Stock Option Plan

The Company's shareholders approved an amendment to the Company's omnibus equity incentive plan (the "Incentive Plan") to increase the number of common shares in the capital of the Company issuable upon exercise or conversion of the securities issued under the Incentive Plan, from 12,834,531 to 22,272,662 shares, being the number equal to 20% of the issued and outstanding common shares as at November 28, 2025, or such other number of common shares as may be permitted by the TSX Venture Exchange (the "Exchange").

The full text of the Incentive Plan is attached to the Information Circular as Schedule A, a copy of which can be found on the Company's SEDAR+ profile at www.sedarplus.com. The amendment to the Incentive Plan remains subject to the final approval of the Exchange.

About Perimeter Medical Imaging AI, Inc.

Based in Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI (TSX-V: PINK) (OTCQX: PYNKF) is a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the U.S., our FDA-cleared Perimeter S-Series OCT system provides real-time, cross-sectional visualization of excised tissues at the cellular level. The breakthrough-device-designated investigational Perimeter B-Series OCT with ImgAssist AI represents our next-generation artificial intelligence technology that has recently been evaluated in a pivotal clinical trial, with support from a grant of up to US$7.4 million awarded by the Cancer Prevention and Research Institute of Texas. The company's ticker symbol "PINK" is a reference to the pink ribbons used during Breast Cancer Awareness Month.

Perimeter B-Series OCT is not available for sale in the United States. Perimeter S-Series OCT has 510(k) clearance under a general indication and has not been evaluated by the U.S. FDA specifically for use in breast tissue, breast cancer, other types of cancer, margin evaluation, and reducing re-excision rates. The safety and effectiveness of these uses has not been established. For more information, please visit www.perimetermed.com/disclosures.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains statements that constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. In this news release, words such as "may," "would," "could," "will," "likely," "believe," "expect," "anticipate," "intend," "plan," "estimate," and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking information may relate to management's future outlook and anticipated events or results and may include statements or information regarding the future financial position, business strategy and strategic goals, competitive conditions, research and development activities, projected costs and capital expenditures, research and clinical testing outcomes, taxes and plans and objectives of, or involving, Perimeter. Without limitation, information regarding the final approval of the Incentive Plan and the potential benefits of Perimeter's products are forward-looking information. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, any particular result will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Perimeter's control. Such forward-looking statements reflect Perimeter's current view with respect to future events, but are inherently subject to significant medical, scientific, business, economic, competitive, political, and social uncertainties and contingencies. In making forward-looking statements, Perimeter may make various material assumptions, including but not limited to (i) the accuracy of Perimeter's financial projections; (ii) obtaining positive results from trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market, and economic conditions. Further risks, uncertainties and assumptions include, but are not limited to, those applicable to Perimeter and described in Perimeter's Management Discussion and Analysis and Annual Information Form for the year ended December 31, 2024, which are available on Perimeter's SEDAR+ profile at https://www.sedarplus.ca, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Perimeter does not intend, nor does Perimeter undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events, or circumstances or otherwise, except if required by applicable laws.

SOURCE Perimeter Medical Imaging AI Inc.

CONTACTS: Stephen Kilmer, Investor Relations, Direct: 647-872-4849, Email: [email protected]; Adrian Mendes, Chief Executive Officer, Toll-free: 888-988-7465 (PINK), Email: [email protected]