Spectral Diagnostics provides update on results of annual and special meeting of shareholders

TORONTO, May 6, 2014 /CNW/ - Spectral Diagnostics Inc. (TSX: SDI) (OTC QX: DIAGF) (the "Corporation") today announced that at the annual and special meeting (the "Meeting") of shareholders of the Corporation ("Shareholders") that was held yesterday, all six nominees for the board were elected, the voting results of which are as follows:

Director	Number and percentage of shares represented in person or by proxy and entitled to vote at the Meeting that voted FOR	Number and percentage of shares represented in person or by proxy and entitled to vote at the Meeting that were WITHHELD from voting
Anthony Bihl III	74,241,553 (99.55%)	339,181 (0.45%)
Kevin Giese	71,632,600 (96.05%)	2,948,134 (3.95%)
Guillermo Herrera	74,084,173 (99.33%)	496,561 (0.67%)
Paul M. Walker	74,141,164 (99.41%)	439,570 (0.59%)
Laine Woollard	74,094,776 (99.35%)	485,958 (0.65%)
Koichiro Takeshita	74,254,387 (99.56%)	326,347 (0.44%)

At the Meeting, Shareholder also approved the name change of the Corporation to "Spectral Medical Inc." but that name change will only take effect if, as and when adopted by the board of directors of the Corporation at a later date.  Lastly, Shareholders also approved the amendments to the terms of those certain warrants of the Corporation held by insiders to extend the expiry date of the warrants from March 2, 2014 to September 2, 2014, consistent with the amendments made to the warrants held by all other holders of warrants.

Full details of the foregoing are contained in the Report of Voting Results for the Meeting which has been filed on Sedar at www.Sedar.com.

About Spectral Diagnostics

Spectral is a Phase III company seeking U.S. FDA approval for its lead theranostics product for the treatment of severe sepsis with septic shock. PMX is a therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream. Directed by the Company's Endotoxin Activity Assay (EAA™), the only FDA cleared diagnostic for the risk of developing sepsis. Spectral's EUPHRATES trial is the world's only active and most innovative Phase III study in the area of septic shock.

PMX has been approved for therapeutic use in Japan and Europe, and has been used safely and effectively on more than 100,000 patients to date. In March 2009, Spectral obtained the exclusive development and commercial rights in the U.S. for PMX, and in November 2010, signed an exclusive distribution agreement for this product in Canada. Approximately 350,000 patients are diagnosed with severe sepsis and septic shock in North America each year, representing a greater than $1 billion market opportunity for Spectral. Spectral is listed on the Toronto Stock Exchange under the symbol

Forward-looking statement
Information in this news release that is not current or historical factual information may constitute forward looking information within the meaning of securities laws. Implicit in this information, particularly in respect of the future outlook of Spectral and anticipated events or results, are assumptions based on beliefs of Spectral's senior management as well as information currently available to it. While these assumptions were considered reasonable by Spectral at the time of preparation, they may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties, including the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of Spectral to take advantage of business opportunities in the biomedical industry, the granting of necessary approvals by regulatory authorities as well as general economic, market and business conditions, and could differ materially from what is currently expected.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this statement.

 

SOURCE: Spectral Diagnostics Inc.

Spectral Diagnostics Inc.

Anthony Businskas
Executive Vice President and CFO
416-626-3233 ext. 2200

Adam Peeler
Investor Relations
416-815-0700 ext. 225
[email protected]