PreveCeutical Announces Rescheduled Date for Annual General and Special Meeting
Rhea-AI Summary
PreveCeutical Medical (OTCQB: PRVCF) has rescheduled its annual general and special meeting from August 15 to September 5, 2025. At the meeting, shareholders will vote on key matters including director elections and the appointment of Davidson & Company LLP as auditors.
A significant proposal involves the distribution of up to 12 million common shares of BioGene Therapeutics to PreveCeutical shareholders through a plan of arrangement. This strategic move will result in shareholders owning stakes in both companies: BioGene, focusing on Dual Gene Therapy development, and PreveCeutical, continuing its work on preventive and curative therapies using organic products.
Positive
- Strategic separation will allow both companies to access targeted capital more effectively
- Shareholders will receive shares in two distinct companies, potentially increasing value
- Focused business models may improve operational efficiency for both entities
Negative
- Corporate restructuring may create additional administrative costs
- Potential dilution of management focus across two separate entities
News Market Reaction
On the day this news was published, PRVCF gained 5.02%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - July 9, 2025) - PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) (the "Company" or "PreveCeutical"), announces that, further to its News Release of June 25, 2025, it has rescheduled its annual general and special meeting from August 15, 2025 to September 5, 2025 at which the shareholders (the "PreveCeutical Shareholders") of the Company will be asked to approve:
the election of Stephen Van Deventer, Makarand Jawadekar, Linnéa Olofsson, Kathleen Rokita and C. Evan Ballantyne as directors of the Company;
the ratification of the appointment of Davidson & Company LLP, Chartered Professional Accountants, as the auditors of PreveCeutical for the financial year ending December 31, 2024 and 2025;
a plan of arrangement under the provisions of Division 5 of Part 9 of the Business Corporations Act (British Columbia), pursuant to which the Company will distribute up to 12,000,000 common shares of BioGene Therapeutics Inc. ("BioGene") to the PreveCeutical Shareholders; (the "Arrangement and Distribution") and
the adoption of the PreveCeutical's Omnibus Equity Incentive Plan.
Once the Arrangement and Distribution is complete, the PreveCeutical Shareholders will own shares in two companies: BioGene, which will focus on the development of the Dual Gene Therapy program, and PreveCeutical, which will continue to focus on developing innovative options for preventive and curative therapies utilizing organic and nature identical products.
PreveCeutical believes that the Arrangement and Distribution is in the best interests of PreveCeutical and the PreveCeutical Shareholders for numerous reasons, including that separating PreveCeutical and BioGene will expand both PreveCeutical's and BioGene's potential shareholder base and access to capital for research, development and clinical trials by allowing investors that want specific ownership in the particular business of BioGene the opportunity to invest directly in BioGene rather than through PreveCeutical.
About PreveCeutical
PreveCeutical is a health sciences company that develops innovative options for preventive and curative therapies utilizing organic and nature identical products. PreveCeutical aims to be a leader in preventive health sciences and currently has five research and development programs, including: dual gene therapy for curative and prevention therapies for diabetes and obesity; the Sol-gel Program; Nature Identical™ peptides for treatment of various ailments; nonaddictive analgesic peptides as a replacement to the highly addictive analgesics such as morphine, fentanyl and oxycodone; and a therapeutic product for treating athletes who suffer from concussions (mild traumatic brain injury). For more information about PreveCeutical, please visit www.PreveCeutical.com, follow us on Twitter: http://twitter.com/PreveCeuticals and Facebook: www.facebook.com/PreveCeutical.
On behalf of the Board of Directors of PreveCeutical
Stephen Van Deventer, Chairman and Chief Executive Officer
For further information, please contact:
Stephen Van Deventer: +1 604 306 9669
Or Investor Relations
ir@preveceutical.com
Neither the CSE nor any Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258234
FAQ
When is PreveCeutical's (PRVCF) rescheduled annual general meeting in 2025?
How many BioGene Therapeutics shares will PRVCF shareholders receive in the distribution?
What will be the focus of BioGene Therapeutics after the separation from PRVCF?
What will PreveCeutical Medical focus on after the BioGene separation?
Who are the proposed directors for PreveCeutical's board?
