Waverley Pharma Announces Annual and Special Meeting Election Results

WINNIPEG, MB, June 20, 2024 /CNW/ - Waverley Pharma Inc. ("Waverley Pharma" or the "Company") (TSXV: WAVE), a Canadian pharmaceutical company, is pleased to announce the voting results for the election of directors at its annual and special meeting of shareholders held earlier today (the "Meeting").  Each of the four nominees listed in Company's management information circular dated May 2, 2024, namely Dr. Albert Friesen, P. Marcus Enns, James Kinley and Larry Thiessen, was elected as a director of Waverley Pharma to hold office until the next annual meeting of shareholders or until their successor is duly elected.  All matters to be acted upon at the Meeting, including the election of directors and approval of the Company's rolling stock option plan, were approved, receiving votes for totalling greater than 99%. 

James Kinley, is the only newly appointed director.  Mr. Kinley is a Chartered Professional Accountant (CPA, CA) with more than 15 years experience building, leading and advising companies through their daily operations as well as complex restructurings, mergers, acquisitions and capital market transactions. He is currently the Chief Financial Officer of Algernon Pharmaceuticals Inc.  and a director of Medicure Inc.  Both are publicly traded companies based in Canada.

"I have known James for more than 10 years and am thankful he accepted the invitation to join our Board" said Albert Friesen, Chair of Waverley Pharma's Board of Directors.  "He has a depth of experience and knowledge in the life science industry that will serve us well.

About Waverley Pharma

Waverley Pharma is a pharmaceutical company focused on the development and commercialization of safe and effective therapeutics. For more information on Waverley Pharma please visit www.waverleypharma.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information: Statements contained in this press release that are not statements of historical fact, including, without limitation, statements containing the words "believes", "may", "plans", "will", "estimates", "continues", "anticipates", "intends", "expects" and similar expressions, may constitute "forward-looking information" within the meaning of applicable Canadian and U.S. federal securities laws (such forward-looking information and forward-looking statements are hereinafter collectively referred to as "forward-looking statements"). Forward-looking statements include estimates, analysis and opinions of management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors which the Company believes to be relevant and reasonable in the circumstances. Inherent in forward-looking statements are known and unknown risks, uncertainties and other factors beyond the Company's ability to predict or control that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements, and as such, readers are cautioned not to place undue reliance on forward-looking statements. Such risk factors include, among others, the Company's potential product revenues, stage of development, additional capital requirements, risks associated with obtaining regulatory approval to market the Company's products, the ability to protect its intellectual property, dependence upon collaborative partners, changes in government regulation or regulatory approval processes, and rapid technological change in the industry. Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions about: general business and economic conditions; the impact of changes in Canadian-US dollar and other foreign exchange rates on the Company's revenues, costs and results; the timing of the receipt of regulatory and governmental approvals for the Company's research and development projects; the availability of financing for the Company's commercial operations and/or research and development projects, or the availability of financing on reasonable terms; the uncertainties associated with the acceptance and demand for new products and market competition. The foregoing list of important factors and assumptions is not exhaustive. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of factors, other than as may be required by applicable legislation. Additional discussion regarding the risks and uncertainties relating to the Company and its business can be found in the Company's other filings with the applicable Canadian securities regulatory authorities.

SOURCE Waverley Pharma Inc.

For further information contact: Haaris Uddin, Chief Financial Officer by phone: [phone] or by E-mail: [email protected], or visit www.waverleypharma.com