VELAN ANNOUNCES ELECTION OF DIRECTORS

MONTRÉAL, Aug. 25, 2023 /CNW/ - Velan Inc. (the "Corporation") (TSX: VLN) announced today that each director nominee listed in the Management Proxy Circular dated July 6, 2023, was elected as Director of the Corporation during the Annual Meeting of the Shareholders held on August 25, 2023, in Montréal, Québec.

The details of the election are as follows:

Director Nominee	Outcome	Votes for	% for	Votes  against	% against
James A. Mannebach	elected	81,021,402	99.94 %	50,681	0.06 %
Suzanne Blanchet	elected	81,014,002	99.93 %	58,081	0.07 %
Bruno Carbonaro	elected	80,660,588	99.49 %	411,495	0.51 %
Dahra Granovsky	elected	80,714,602	99.56 %	357,481	0.44 %
Edward Kernaghan	elected	81,021,402	99.94 %	50,681	0.06 %
Ivan Velan	elected	80,667,288	99.50 %	404,795	0.50 %
Peter Velan	elected	80,632,088	99.46 %	439,995	0.54 %
Robert Velan	elected	80,632,088	99.46 %	439,995	0.54 %
Tom Velan	elected	80,632,088	99.46 %	439,995	0.54 %

The results of the final votes regarding all matters subject to a vote during the Annual Meeting will be made available under the Corporation's profile on SEDAR+ (www.sedarplus.ca/).

SOURCE Velan Inc.

Bruno Carbonaro, Chief Executive Officer and President, Tel: [phone] or Rishi Sharma, Chief Financial Officer Tel: [phone]