Xanthic Biopharma Inc. Announces 2018 Annual and Special Meeting Results

- November 5th, 2018

Xanthic Biopharma Inc. (“Xanthic” or the “Company”) (CSE:xTHC) wishes to announce that at the annual and special meeting (the “AGM”) of the Company’s shareholders (the “Shareholders”) held on November 2, 2018in Toronto, the Shareholders voted in favour of all items of business.

Xanthic Biopharma Inc. (“Xanthic” or the “Company“) (CSE:xTHC) wishes to announce that at the annual and special meeting (the “AGM“) of the Company’s shareholders (the “Shareholders“) held on November 2, 2018in Toronto, the Shareholders voted in favour of all items of business.

Results of the AGM

The following seven (7) persons were nominated for election and elected as directors of the Company with the following percentages:

Name of Nominee

Number of Votes

Percentage

Tim Moore

22,967,551

100%

Igor Galitsky

22,967,551

100%

Jean Schottenstein

22,967,551

100%

Peter Horvath

22,967,551

100%

Steve Stoute

22,967,551

100%

Carli Posner

22,967,551

100%

Marc Lehmann

22,967,551

100%

 

At the AGM, the Shareholders also approved the following resolutions, as more particularly described in the management information circular filed on SEDAR on October 12, 2018:

  • Reappointment of MNP LLP as the Company’s auditors for the ensuing year and authorizing the directors of the Company to fix their remuneration;
  • Fixing the number of directors of the Company at seven (7);
  • Approval of the Company’s proposed transaction with Green Growth Brands Ltd. (“GGB“);
  • Approval of the advance by-law for the Company;
  • Ratification, confirmation and approval of the Company’s new equity incentive plan;
  • Approval of the proposed consolidation of the common shares of the Company;
  • Change of the Company’s corporate name to “Green Growth Brands Ltd.” to better reflect the change in the Company’s business activities;
  • An amendment of the Company’s articles of incorporation to eliminate the Company’s existing class of first preferred shares; and
  • An amendment of the Company’s articles of incorporation to create a new class of proportionate voting shares.

Listing Update

The Company continues to work towards finalizing the listing statement to the Canadian Securities Exchange (“CSE“) to qualify the listing of the Company’s common shares on the CSE, in accordance with the business combination between the Company and GGB. There is no assurance the CSE will provide conditional or final approval of the Company’s application to list its common shares on the CSE. The CSE’s final approval remains subject to the Company fulfilling all of the requirements of the CSE.

About Xanthic:

Xanthic, through its wholly-owned operating subsidiary, Xanthic Biopharma Limited, provides valuable intellectual property to cannabis industry participants, enabling its strategic partners to produce high quality, innovative, non-combustible cannabis and cannabis-infused products. Xanthic is a developer of a patent-pending proprietary process to make tetrahydrocannabinol and cannabidiol, the two key active ingredients in cannabis, water soluble. Subject to completion of the Company’s business combination with GGB, Xanthic will combine its business with GGB and thereafter be engaged in the business of cultivation, processing, and retailing of cannabis and cannabis-infused products augmented by Xanthic intellectual property.

Click here to connect with Xanthic Biopharma Inc. (CSE: xTHC) for an Investor Presentation

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