VICTORIA, Dec. 2, 2019 /CNW/ - IMMUNOPRECISE
ANTIBODIES LTD. (the "Company" or "IPA") (TSX VENTURE: IPA) (OTC
QB: IPATF) announces that all resolutions were passed by the
shareholders at its annual general meeting ("AGM") held in
Vancouver, British Columbia, on
November 22, 2019.
Shareholders, represented in person or by proxy, at the AGM
voted in favour of setting the number of directors at 7, appointed
incumbent directors Dr. Jennifer
Bath, Dr. James Kuo,
Robert Beecroft, Dr. Robert Burke, Greg
Smith, Paul Andreola and
Brian Lundstrom as directors of the
Company for the ensuing year. Shareholders also appointed
Crowe Mackay LLP as the Company's external auditor, approved the
Company's rolling 10% stock option plan and approved the newly
adopted shareholder rights plan (the "Shareholder Rights
Plan").
The purpose of the Shareholder Rights Plan is to ensure that all
shareholders are treated fairly in connection with any offer to
acquire the outstanding common shares of the Company and that the
board of directors of the Company has the opportunity to identify,
solicit, develop and negotiate value-enhancing alternatives to any
unsolicited take-over bid. The Shareholder Rights Plan has not been
adopted in response to, or in anticipation of, any known or
anticipated take-over bid. The Shareholder Rights Plan will now be
in effect for a term of three years.
A summary of the principal terms and conditions of the
Shareholder Rights Plan is set out in the Company's Management
Information Circular and a copy of the Shareholder Rights Plan is
filed on SEDAR.
About ImmunoPrecise Antibodies Ltd.
ImmunoPrecise is an international, full-service, therapeutic
antibody discovery company offering species agnostic advancements
such as the B cell SelectTM progressive, single-cell
interrogation technology and the DeepDisplayTM custom
phage libraries, as well as the AbthenaTM bispecific
program. IPA is focused on the next generation of antibody
discovery, to deliver the most therapeutically relevant antibodies,
in a shorter period of time, with the highest probability of
succeeding to clinical trials.
ImmunoPrecise discovery and development are conducted in
Utrecht and Oss, the Netherlands (U-Protein Express and IPA
Europe, respectively), and in Victoria,
British Columbia (IPA Canada). The Company operates globally
to offer a continuum of superior antibody services, transforming
the face of therapeutic discovery, by decreasing turnaround time
and risk, and promoting clinical success.
Forward Looking Information
This news release contains statements that, to the extent
they are not recitations of historical fact, may constitute
"forward-looking statements" within the meaning of applicable
Canadian securities laws. The Company uses words such as "may",
"would", "could", "will", "likely", "expect", "believe", "intend"
and similar expressions to identify forward-looking statements. Any
such forward-looking statements are based on assumptions and
analyses made by ImmunoPrecise in light of its experience and its
perception of historical trends, current conditions and expected
future developments. However, whether actual results and
developments will conform to ImmunoPrecise's expectations and
predictions is subject to any number of risks, assumptions and
uncertainties. Many factors could cause ImmunoPrecise's actual
results to differ materially from those expressed or implied by the
forward-looking statements contained in this news release. Such
factors include, among other things, actual revenues and earnings
for IPA being lower than anticipated, and those risks and
uncertainties described in ImmunoPrecise's annual management
discussion and analysis for the fiscal year ended April 30,
2018 which can be accessed at www.sedar.com. The
"forward-looking statements" contained herein speak only as of the
date of this press release and, unless required by applicable law,
ImmunoPrecise undertakes no obligation to publicly update or revise
such information, whether as a result of new information, future
events or otherwise.
Neither the 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 ImmunoPrecise Antibodies Ltd.