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Acerus Announces Voting Results for the 2020 Annual Meeting


TORONTO--(BUSINESS WIRE)-- Acerus Pharmaceuticals Corporation (“Acerus”) (TSX:ASP; OTCQB:ASPCF) today announced the voting results from its annual meeting of shareholders held on June 23, 2020 in Toronto, Ontario. The total number of shares represented in person or by proxy at the meeting was 898,135,427, representing 88.88% of the total issued and outstanding Acerus shares.

Election of Directors

The six (6) candidates nominated for election to the Acerus board of directors and listed in Acerus’ management information circular dated May 15, 2020, were elected by a majority of the votes cast by shareholders present in person or represented by proxy at the meeting. The voting results are as follows:


Votes For (%)

Votes Withheld (%)

Ian O. Ihnatowycz

893,135,589 (99.86%)

1,275,950 (0.14%)

Geoff Cotton

893,889,089 (99.94%)

522,450 (0.06%)

Borys Chabursky

882,663,883 (98.69%)

11,747,656 (1.3%)

Stephen Gregory

882,663,883 (98.69%)

11,747,656 (1.3%)

Scott Leckie

893,889,089 (99.94%)

522,450 (0.06%)

Edward Gudaitis

893,886,089 (99.94%)

525,450 (0.06%)

Appointment of Auditors

Acerus announced today that its shareholders have approved the re-appointment of PricewaterhouseCoopers LLP as the Auditor of Acerus to hold office until the next annual meeting of shareholders.

Share Consolidation

Acerus announced today that its shareholders have approved a consolidation of the issued and outstanding common shares of the Company on the basis of one (1) post-consolidation common share for up to fifty (50) pre-consolidation common shares if, and at such time following the meeting, as the board of directors so determines. The proposed share consolidation was described in detail in the Management Information Circular dated May 15, 2020 and available on SEDAR (the “Management Information Circular”), and the special resolution was also set forth in the Management Information Circular.

Although approval for the share consolidation was approved at this meeting, such share consolidation would ultimately become effective at a future date as determined by the board of directors and at a ratio of up to fifty (50) as determined by the board of directors.

Omnibus Incentive Plan

Acerus announced today that its shareholders have approved the adoption of an Omnibus Incentive Plan by the Company. Details of the proposed Omnibus Incentive Plan were set forth in the Management Information Circular and the resolution was also set forth in the Management Information Circular

About Acerus

Acerus Pharmaceuticals Corporation is a Canadian-based specialty pharmaceutical company focused on the commercialization and development of innovative prescription products that improve patient experience, with a primary focus in the field of men’s health. The Company commercializes its products via its own salesforce in the United States and Canada, and through a global network of licensed distributors in other territories.

Acerus’ shares trade on TSX under the symbol ASP and on OTCQB under the symbol ASPCF. For more information, visit and follow us on Twitter and LinkedIn.

Notice regarding forward-looking statements

Information in this press release that is not current or historical factual information may constitute forward looking information within the meaning of securities laws. Implicit in this information are assumptions regarding our future operational results. These assumptions, although considered reasonable by the company at the time of preparation, may prove to be incorrect. Readers are cautioned that actual performance of the company is subject to a number of risks and uncertainties, including with respect to the potential impact of a share consolidation on the share price of the Company, and could differ materially from what is currently expected as set out above. In particular, these assumptions include but are not limited to, the following: the COVID-19 pandemic will not affect our business plan and that of our suppliers, the COVID-19 pandemic will not last many months and health care professionals will be available to hear about our products and to continue education programs related to them. For more exhaustive information on these risks and uncertainties you should refer to our annual information form dated March 3, 2020 which is available at Forward-looking information contained in this press release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time, whether as a result of new information, future events or otherwise, except as required by applicable securities law.

Edward Gudaitis
President and Chief Executive Officer
(905) 817-8194

Source: Acerus Pharmaceuticals Corporation