Market Overview

Helius Medical Technologies, Inc. Announces Results of Matters Submitted for Vote at 2018 Annual Shareholder Meeting

Share:

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
info@heliusmedical.com

Primary Logo

View Comments and Join the Discussion!