ex991_pressrelease
Intellipharmaceutics Reports Director Election Results
Toronto, Ontario, May 27, 2022, Intellipharmaceutics International
Inc. (OTCQB: IPCIF and TSX: IPCI) ("Intellipharmaceutics" or
the "Company"), a pharmaceutical company specializing in the
research, development and manufacture of novel and generic
controlled-release and targeted-release oral solid dosage drugs,
reports, as required by TSX rules,
that the five nominees, each of whom was an incumbent director of
the Company, identified in the Management Information Circular
dated April 12, 2022 (the “Circular”) were elected as
directors of the Company at the annual meeting of shareholders of
the Company held today (the “Meeting”). The
voting results, as set out in the scrutineer’s report for the
Meeting, were as follows:
Name of Nominee
|
|
|
|
|
|
Dr.
Isa Odidi
|
12,104,193
|
144,707
|
|
98.8%
|
1.2%
|
Dr.
Amina Odidi
|
12,124,250
|
124,650
|
|
99.0%
|
1.0%
|
Bahadur
Madhani
|
12,061,655
|
187,245
|
|
98.5%
|
1.5%
|
Norman
Betts
|
12,127,603
|
121,297
|
|
99.0%
|
0.99%
|
Shawn
Graham
|
12,061,621
|
187,279
|
|
98.5%
|
1.5%
|
All other resolutions tabled for consideration at the Meeting, as
set out in the Circular, were also approved by shareholders of the
Company. See the Company’s Report on Voting Results filed
under the Company’s profile on SEDAR
at www.sedar.com for additional details.
About Intellipharmaceutics
Intellipharmaceutics
International Inc. is a pharmaceutical company specializing in the
research, development and manufacture of novel and generic
controlled-release and targeted-release oral solid dosage drugs.
The Company’s patented Hypermatrix™ technology is a
multidimensional controlled-release drug delivery platform that can
be applied to a wide range of existing and new
pharmaceuticals.
Intellipharmaceutics
has developed several drug delivery systems based on this
technology platform, with a pipeline of products (some of which
have received FDA approval) in various stages of development. The
Company has ANDA and NDA 505(b)(2) drug product candidates in its
development pipeline. These include the Company’s
abuse-deterrent oxycodone hydrochloride extended release
formulation (“Oxycodone ER”) based on its proprietary
nPODDDS™ novel Point Of Divergence Drug Delivery System (for
which an NDA has been filed with the FDA), and Regabatin™ XR
(pregabalin extended-release capsules).
Cautionary Statement Regarding Forward-Looking
Information
Certain statements in this document constitute
“forward-looking statements” within the meaning of the
United States Private Securities Litigation Reform Act of 1995
and/or “forward-looking information” under the
Securities Act (Ontario). These statements include, without
limitation, statements expressed or implied regarding our
expectations regarding our plans, goals and milestones, status of
developments or expenditures relating to our business, plans to
fund our current activities, risks associated with the novel
coronavirus (COVID-19), including its impact on our business and
operations and on the Company’s upcoming AGM and statements
concerning our partnering activities, health regulatory
submissions, strategy, future operations, future financial
position, future sales, revenues and profitability, projected costs
and market penetration and risks or uncertainties related to our
ability comply with OTCQB Venture Market and TSX requirements. In
some cases, you can identify forward-looking statements by
terminology such as “appear”, “unlikely”,
“target”, “may”, “will”,
“should”, “expects”, “plans”,
“plans to”, “anticipates”,
“believes”, “estimates”,
“predicts”, “confident”,
“prospects”, “potential”,
“continue”, “intends”, “look
forward”, “could”, “would”,
“projected”, “set to”,
“seeking” or the negative of such terms or other
comparable terminology. We made a number of assumptions in the
preparation of our forward-looking statements. You should not place
undue reliance on our forward-looking statements, which are subject
to a multitude of known and unknown risks and uncertainties that
could cause actual results, future circumstances or events to
differ materially from those stated in or implied by the
forward-looking statements. Risks and uncertainties relating to us
and our business can be found in the “Risk Factors”
section of our latest annual information form, our latest Form
20-F, and our latest Form F-1 and Form F-3 registration statements
(including any documents forming a part thereof or incorporated by
reference therein), as amended, as well as in our reports, public
disclosure documents and other filings with the securities
commissions and other regulatory bodies in Canada and the U.S.,
which are available on www.sedar.com and www.sec.gov. The
forward-looking statements reflect our current views with respect
to future events and are based on what we believe are reasonable
assumptions as of the date of this document and we disclaim any
intention and have no obligation or responsibility, except as
required by law, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Trademarks used herein are the property of their respective
holders.
Unless the context otherwise requires, all references to
“we,” “us,” “our,”
Intellipharmaceutics,” and the “Company” refer to
Intellipharmaceutics International Inc. and its
subsidiaries.
CONTACT INFORMATION
Company
Contact:
Intellipharmaceutics
International Inc.
Isa
Odidi
Chief
Executive Officer
416.798.3001
ext. 106
investors@intellipharmaceutics.com