Telesta Therapeutics Inc. Announces Results of Annual General Meeting of Shareholders

MONTREAL, Nov. 16, 2015 /CNW Telbec/ - Telesta Therapeutics Inc. (TSX: TST; PNK: BNHLF) ("Telesta" or the"Corporation") today announced the voting results from its annual general meeting of shareholders held November 12, 2015 in Montreal (the "Meeting").  The details of the meeting agenda and each of the agenda items can be found in the Corporation's proxy circular dated September 25, 2015 which can be found at www.sedar.com or on the Corporation's website at www.telestatherapeutics.com. 

The five nominees for the position of director of the Corporation were elected as presented in the table below.  Each of these individuals is to serve as a director of the Corporation to hold office for the ensuing year or until his or her successor is elected.

Nominee	Votes For	% For	Votes Withheld	% Withheld
Yvon Bastien	104,941,901	98.96	1,106,508	1.04
Dr. Michael Berendt	105,405,397	99.39	642,958	0.61
Lyne Fortin	105,915,181	99.87	133,228	0.13
James Rae	104,424,859	98.85	1,618,496	1.15
Warren Whitehead	104,976,695	98.99	1,067,214	1.01

Shareholders at the Meeting also approved the re-appointment of Telesta's auditors, Ernst & Young LLP, Chartered Accountants and re-approved: the Group Registered Retirement Savings and Employee Savings Plans, the Shareholders' Rights Plan, and the 2015 Amended and Restated Stock Option Plan.  In addition, the Advance Notice By-Law of the Corporation was confirmed, ratified and approved.

Finally, a special resolution amending the articles of the Corporation to consolidate the issued and outstanding Common Shares at a ratio of up to fifteen (15) pre-consolidation for every one (1) post-consolidation Common Share if, as and when determined by the Board of Directors over a period of one year, was confirmed, ratified and approved.

About Telesta Therapeutics Inc.

Telesta Therapeutics Inc. is a late stage therapeutics company with near term commercial potential. The Company recently submitted a Biologics License Application (BLA) with the FDA for MCNA, its drug for high risk non-muscle invasive bladder cancer, and has been granted Priority Review with a PDUFA date of February 27, 2016.  The Company's primary goal is to develop and commercialize products in the United States that advance human health and increase shareholder value. For more information, please visit www.telestatherapeutics.com

Except for historical information, this news release may contain "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws that reflect the Company's current expectation regarding future events. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while, considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Readers are cautioned that any such forward-looking statements and information are not guarantees and there can be no assurance that such statements and information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements and information. These forward-looking statements and information involve risk and uncertainties, which may cause, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process, and other risks detailed from time to time in the Company's ongoing quarterly and annual reporting. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements and information whether as a result of new information, future events or otherwise. All written and oral forward-looking statements and information attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements.

SOURCE Telesta Therapeutics Inc.

Donald Olds, Chief Operating Officer, Telesta Therapeutics Inc., Telephone: [phone], [email protected]