TSX Venture: QPT
EDMONTON, Feb. 15, 2017 /CNW/ - Quest PharmaTech Inc. (TSX-V: QPT) ("Quest" or the "Company"), a pharmaceutical company developing and commercializing products to improve the quality of life, today announced the results of its February 9, 2017 annual general meeting of shareholders.
The Company is pleased to announce the following 5 directors have been re-elected to the Company's Board of Directors:
Lorne Meikle, BA
Ian McConnan, FCA,
Eric Shi, MD, Ph.D.
Shawn Lu, MBA, Mfin, CIM, CCA
Madi R. Madiyalakan, Ph.D.
Mr. Meikle, Mr. McConnan and Dr. Shi are all independent directors. Mr. Meikle is the Chairman of the Board. Mr. McConnan is Chair of the Audit Committee. Dr. Shi is Chair of the Corporate Governance Committee and Mr. Lu is Chair of the Compensation Committee.
"We wish to thank our shareholders for their continuing support," said Dr. Madi R. Madiyalakan, Chief Executive Officer for Quest. With the strength and experience of our re-elected Board members, 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 74,500,000 shares were voted for the Company's shareholder meeting representing 49.5% of the Company's shares eligible to vote. Shareholder's voted 99% in favor of all meeting resolutions.
In addition, the Company announced the granting of 600,000 stock options to Directors and 650,000 stock options to Officers, all at an exercise price of $0.15 per common share, subject to TSX Venture Exchange approval.
About Quest PharmaTech Inc.
Quest PharmaTech is a publicly traded, Canadian based pharmaceutical company developing products to improve the quality of life. The Company through its subsidiary, OncoQuest is developing antibody based immunotherapeutic products for cancer. In addition, the Company owns the Photodynamic Therapy technology for oncology and dermatology applications, licensed to BioCeltran Co., Ltd., a Korea based company (Bioceltran). Quest has an ownership interest in Bioceltran which is focused on SP Technology™ for transdermal delivery of drugs and photosensitizers for pharmaceutical and cosmetic purposes. Quest also markets consumer health products worldwide, including Bellus Skin™ serum, a premium anti-wrinkle skin care product licensed from a company in South Korea. Quest is also developing an antibody licensed from University of Nebraska, Mab AR 9.6 against truncated O-glycan on MUC16, for targeted cancer therapy applications.
Neither 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.
SOURCE Quest PharmaTech Inc.
For further information: Dr. Madi R. Madiyalakan, Chief Executive Officer, Quest PharmaTech Inc., Tel: (780) 448-1400 Ext. 204, Email: [email protected], Internet: www.questpharmatech.com, www.madencobio.com, www.bellusskin.com