NEWTOWN, Pa., July 23, 2018 (GLOBE NEWSWIRE) — Helius Medical Technologies, Inc. (TSX:HSM) (Nasdaq:HSDT) (“Helius” or the “Company”) announced today the results of the matters submitted for voting at the annual meeting of shareholders (“Annual Meeting”).
The Annual Meeting was held on June 28, 2018. Of the 23,312,291 shares of Class A Common Stock outstanding as of the record date, 14,730,401 shares (63.2%) were present or represented by a proxy at the Annual Meeting. The shareholders considered five proposals, each of which is described below and in more detail in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on May 29, 2018.
Proposal No. 1: Election of seven directors of the Company to serve until the 2019 annual meeting of shareholders of the Company and until their respective successors are elected and qualified. The votes were cast as follows:
| Name | Votes For | % | Votes Withheld | % | ||||
| Philippe Deschamps | 12,953,160 | 87.9 | 637,230 | 4.3% | ||||
| Dane C. Andreeff | 13,560,927 | 92.1 | 29,463 | 0.2% | ||||
| Mitchell E. Tyler | 13,121,569 | 89.1 | 468,821 | 3.2% | ||||
| Edward M. Straw | 13,563,229 | 92.1 | 27,161 | 0.2% | ||||
| Blane Walter | 12,947,693 | 87.9 | 642,697 | 4.4% | ||||
| Huaizheng Peng | 13,589,090 | 92.3 | 1,300 | 0.0% | ||||
| Thomas E. Griffin | 13,147,430 | 89.3 | 442,960 | 3.0% | ||||
Broker Non-Votes: 1,140,011; All nominees were elected.
Proposal No. 2: Ratification of the appointment of BDO USA, LLP as independent registered public accounting firm for the fiscal year ending December 31, 2018. The votes were cast as follows:
| Votes For | Votes Against | Abstained | |||||
| Ratification of Appointment of BDO USA, LLP | 14,709,175 | 459 | 20,767 | ||||
The appointment of BDO USA, LLP was ratified.
Proposal No. 3: Approval of the reincorporation of the Company from the State of Wyoming to the State of Delaware. The votes were cast as follows:
| Votes For |
Votes Against |
Abstained | Broker Non-Votes |
|||||||
| Approval of Reincorporation | 12,890,066 | 692,769 | 7,555 | 1,140,011 | ||||||
The reincorporation of the Company was approved.
Proposal No. 4: Ratification of the prior stock option grant to Joyce LaViscount, the Company’s Chief Financial Officer and Chief Operating Officer, to purchase 800,000 shares of common stock, on a pre-reverse stock split basis. The votes were cast as follows:
| Votes For |
Votes Against |
Abstained | Broker Non-Votes |
||||||||
| Ratification of Prior Option Grant | 12,335,268 | 1,245,133 | 9,989 | 1,140,011 | |||||||
The option grant was ratified
Proposal No. 5: Approval of the 2018 Equity Incentive Plan. The votes were cast as follows:
| Votes For | Votes Against | Abstained | ||||
| Ratification of Option Grant | 12,240,545 | 1,349,445 | 1,140,011 | |||
In addition, votes cast in favor of the proposal represented 87.4% of the disinterested persons present in person of represented by proxy and entitled to vote on Proposal No. 5 (constituting a majority of such shares). Accordingly, the 2018 Equity Incentive Plan was approved.
About Helius Medical Technologies, Inc.
Helius Medical Technologies is a neurotech company focused on neurological wellness. The Company’s purpose is to develop, license and acquire unique and non-invasive platform technologies that amplify the brain’s ability to heal itself. The Company’s first product in development is the Portable Neuromodulation Stimulator (PoNS®). For more information, visit www.heliusmedical.com.
About the PoNS Device and PoNS Treatment
The Portable Neuromodulation Stimulator (PoNS) is an investigational, non-invasive, medical device.
PoNS Treatment is the first and only tongue-delivered neuromodulation that combines stimulation of cranial nerves with physical and cognitive therapy to restore lost neurological function. The Company’s trials investigating the PoNS in traumatic brain injury are more fully discussed in the Company’s disclosure materials, including its Annual Report on Form 10-K and other filings with the United States Securities and Exchange Commission and the Canadian securities regulators and which can be obtained from either at www.sec.gov or www.sedar.com.
Investor Relations Contact:
Westwicke Partners on behalf of Helius Medical Technologies, Inc.
Mike Piccinino, CFA
443-213-0500
[email protected]