MONTREAL, QUEBEC–(Marketwired – July 13, 2016) – Velan Inc. (the “Corporation”) (TSX:VLN) announced today that each director nominee listed in the Management Proxy Circular dated May 20, 2016 was elected as Director of the Corporation during the Annual Meeting of the Shareholders held on July 12, 2016 in Montréal, Québec.
The details of the election are as follows:
| DIRECTOR NOMINEE | OUTCOME | VOTES FOR | % FOR | VOTES WITHHELD |
% WITHHELD |
| Tom Velan | elected | 80,264,409 | 99.99 | 101 | 0.01 |
| William Sheffield | elected | 80,264,509 | 99.99 | 1 | 0.01 |
| Kenneth MacKinnon | elected | 80,264,509 | 99.99 | 1 | 0.01 |
| Peter Velan | elected | 80,221,909 | 99.95 | 42,601 | 0.05 |
| Cheryl Hooper | elected | 80,264,509 | 99.99 | 1 | 0.01 |
| Jacques Latendresse | elected | 80,264,509 | 99.99 | 1 | 0.01 |
| Robert Velan | elected | 80,264,409 | 99.99 | 101 | 0.01 |
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.sedar.com).
VELAN Inc.
Tom Velan
CEO
(514) 748-7743
(514) 748-8635 (FAX)
Tom Velan
CEO
(514) 748-7743
(514) 748-8635 (FAX)
VELAN Inc.
John D. Ball
Chief Financial Officer
(514) 748-7743
(514) 748-8635 (FAX)
www.velan.com
