DiagnoCure reports recommendations from two independent proxy advisory firms favorable to the PCA3 asset sale and to the reduction of the stated capital
QUEBEC CITY, Feb. 2, 2016 /PRNewswire/ - DiagnoCure, Inc. (TSX: CUR) (OTCQX: DGCRF) ("DiagnoCure" or the "Corporation") is pleased to announce that the proxy advisory firms Institutional Shareholder Services ("ISS") and Glass Lewis & Co. ("Glass Lewis") have both recommended that DiagnoCure shareholders vote FOR the PCA3 asset sale resolution and FOR the reduction of stated capital resolution. Both resolutions are to be considered at the upcoming special meeting of shareholders to be held on February 12, 2016 at 10:00 a.m., Eastern Time, at the offices of McCarthy Tétrault, 1000 de la Gauchetière Street West, Suite 2500, Montréal (Quebec) H3B 0A2.
Assuming shareholder approval and the completion of the transaction, the Corporation will distribute approximately 95% of the cash proceeds received in the transaction ($5,200,000) to its shareholders in a tax-efficient manner. In addition, the repurchase by the Corporation of 4,900,000 series A convertible preferred shares of DiagnoCure held by Gen-Probe will cancel all of the preferred shares issued by the Corporation.
Both ISS and Glass Lewis are independent proxy advisory firms which, among other services, provide proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders.
The Board of Directors of DiagnoCure unanimously recommends that shareholders vote FOR the PCA3 asset sale resolution and FOR the reduction of stated capital resolution.
Shareholders are reminded to vote in sufficient time for their vote to be received prior to the voting deadline of 10:00 a.m. (EDT) on February 10, 2016 or at least 48 hours (other than a Saturday, Sunday or holiday) prior to the time set for any adjournment or postponement of the Meeting.
Shareholders should now have received, and are urged to carefully review, the Management Information Circular and accompanying proxy voting materials as they contain important information regarding the Transaction and its benefits to shareholders. Shareholders should follow the instructions on the proxy and voting instruction form that they received with the Management Information Circular. Shareholders have the option to vote on the internet, by phone or by mail. Please take a few moments to cast your vote for this upcoming Special meeting.
Shareholder Questions
Shareholders who have questions or require assistance with voting may contact DiagnoCure Inc.'s proxy solicitation agent, Shorecrest Group Ltd. by (i) telephone at 1-888-637-5789 (toll free in North America) or 1-647-931-7454 (collect outside North America) or (ii) email at [email protected].
About DiagnoCure
DiagnoCure (TSX: CUR; OTCQX: DGCRF) is a life sciences corporation that develops and provides molecular and genomic tests to support effective clinical decisions enabling personalized medicine in oncology. Previstage® GCC and the Corporation's PCP multi-marker prostate cancer test are currently available for licensing. The Corporation has granted a worldwide exclusive license on PCA3 for the development and commercialization of a prostate cancer test which is now commercialized in Europe under CE mark and is approved for commercialization in Canada and the United States. For more information, please visit www.diagnocure.com.
Forward-looking statements
This release may contain forward-looking statements that involve known and unknown risks, uncertainties and assumptions that may cause actual results to differ materially from those expected. Forward-looking statements can be identified by the use of the conditional or forward-looking terminology such as "anticipates", "assumes", "believes", "estimates", "expects", "intend", "may", "plans", "projects", "should", "will", or the negative thereof or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. All such forward-looking statements are made pursuant to the "safe-harbour" provisions of applicable Canadian securities laws. By their very nature, forward-looking statements are based on expectations and hypotheses and also involve risks and uncertainties, known and unknown, many of which are beyond DiagnoCure's control. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Corporation's current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Corporation's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes and that they should not place undue reliance on these forward-looking statements. For instance, any forward-looking statements regarding the outcome of research and development projects, clinical studies and future revenues, including those related to Previstage® GCC and the Corporation's PCP multi-marker prostate cancer test, are based on management expectations and such outcome may vary materially depending on global political and economic conditions, dependence on collaboration partners, uncertainty of healthcare reimbursement, and marketing and distribution challenges. In addition, the reader is referred to the applicable general risks and uncertainties described in DiagnoCure's most recent Annual Information Form under the heading "Risk Factors". DiagnoCure undertakes no obligation to publicly update or revise any forwardlooking statements contained herein unless required by the applicable securities laws and regulations.
SOURCE DiagnoCure inc.
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