LexaGene Announces Results of Annual General and Special Meeting

Rhea-AI Summary

LexaGene Holdings, Inc. announced the results of its 2021 Annual General Special Meeting held on December 16, 2021, where 50,094,097 common shares were voted, representing 41.97% of total outstanding shares. Shareholders approved several key measures including the election of five directors, the appointment of RSM US LLP as auditor, adoption of new articles, and increases in common shares available for conversion of Restricted Share Units and exercise of Options. Detailed voting results for directors were provided, showing strong support across the board.

Positive

• Approval of significant corporate governance measures.
• Strong voter participation with 41.97% of shares represented.
• Election of directors received overwhelming support, with over 94% of shares voting in favor.

Negative

• None.

BEVERLY, Mass., Dec. 17, 2021 (GLOBE NEWSWIRE) -- LexaGene Holdings, Inc., (TSX-V: LXG; OTCQB: LXXGF) (the “Company”), a molecular diagnostics company that has commercialized an instrument for automated multiplex PCR testing, is pleased to announce the voting results of the Company’s 2021 Annual General Special Meeting (the “Meeting”) held on December 16, 2021 in Vancouver, British Columbia.

A total of 50,094,097 common shares were voted at the Meeting, representing 41.97% of the votes attached to all outstanding common shares of the Company.

All matters presented for shareholder approval at the Meeting were duly authorized and approved as follows:

• To set the number of Directors to be elected at five.
• Election of Directors.
• The appointment of RSM US LLP, Certified Public Accountants, as auditor of the Company for the ensuing year.
• The adoption by the Company of New Articles.
• Increase the number of Common Shares available for conversion of Restricted Share Units.
• Increase the number of Common Shares available for exercise of Options

Detailed voting results for the election of directors were as follows:

Name	Shares Voted For	%	Shares Withheld / Abstain	%
Dr. John (Jack) Regan	23,261,101	95.39	1,123,964	4.61
Stephen Mastrocola	23,184,814	95.40	1,117,128	4.60
Thomas Richard Slezak	23,241,987	95.31	1,143,078	4.69
Dr. Jane Sykes	23,222,315	95.23	1,162,750	4.77
Joseph Caruso	23,088,689	94.68	1,296,376	5.32

For further details regarding the voting results of the Meeting, please refer to the Company’s Report of Voting Results filed on SEDAR at www.sedar.com

To be added to the LexaGene email list, please subscribe on the Company website.

To learn more about LexaGene and the MiQLab System or subscribe to company updates, visit www.lexagene.com, or follow us on Twitter or LinkedIn.

On Behalf of the Board of Directors
Dr. Jack Regan
Chief Executive Officer & Chairman

Corporate & Media Contact:
Gail Winslow
Director, Marketing
gwinslow@lexagene.com
978.482.6237

Investors:
ir@lexagene.com
800.215.1824

About LexaGene Holdings Inc.
LexaGene is a molecular diagnostics company that develops molecular diagnostic systems for pathogen detection and genetic testing for other molecular markers for on-site rapid testing in veterinary diagnostics, food safety and for use in open-access markets such as clinical research, agricultural testing, and biodefense. End-users simply need to collect a sample, load it onto the instrument with a sample preparation cartridge, enter sample ID and press ‘go’. The MiQLab™ system delivers excellent sensitivity, specificity, and breadth of detection and can return results in approximately two hours. The unique open-access feature is designed for custom testing so that end-users can load their own real-time PCR assays onto the instrument to target any genetic target of interest.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Neither 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.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors -- including the availability of funds, the results of financing efforts, the success of technology development efforts, the cost to procure critical parts, performance of the instrument, market acceptance of the technology, regulatory acceptance, and licensing issues -- that could cause actual results to differ materially from the Company's expectations as disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

FAQ

What were the voting results of LexaGene Holdings at the 2021 Annual General Special Meeting?

At the 2021 Annual General Special Meeting, 50,094,097 common shares were voted, representing 41.97% of outstanding shares, with all proposals approved.

How many directors were elected during LexaGene's 2021 Meeting?

Five directors were elected during the 2021 Annual General Special Meeting of LexaGene Holdings.

Who was appointed as auditor for LexaGene Holdings in 2021?

RSM US LLP was appointed as the auditor for LexaGene Holdings for the ensuing year.

What changes were made to LexaGene's stock options during the meeting?

The meeting approved an increase in the number of common shares available for the conversion of Restricted Share Units and for the exercise of Options.

What percentage of shares were voted for the election of directors at LexaGene's 2021 meeting?

The election of directors at LexaGene's 2021 meeting saw over 94% of shares voting in favor.