IGC Announces Results of its 2023 Annual Stockholders Meeting
21 Agosto 2023 - 1:30PM
Business Wire
IGC Pharma, Inc. (“IGC” or the “Company”) (NYSE American: IGC)
announces that during its Annual Meeting of Stockholders scheduled
for and convened on August 18, 2023 (the “Annual Meeting”), all
proposals as disclosed on the Definitive Proxy Statement on
Schedule 14A filed with the SEC on July 26, 2023, were passed by
the requisite vote of the stockholders. Only stockholders of record
on the record date of June 21, 2023, were entitled to and requested
to vote at the Annual Meeting.
At the Annual Meeting, all of the following proposals were
approved by the requisite vote of the stockholders: (i) the
election of Ms. Claudia Grimaldi to the Company’s Board of
Directors to serve as Class A directors until the 2026 annual
meeting of stockholders; (ii) the proposal to ratify Manohar
Chowdhry & Associates, as the Company’s independent registered
public accounting firm for the 2024 fiscal year; (iii) the grant of
3,000,000 shares of common stock to be granted from time to time to
the Company’s current and new employees, advisors, directors, and
consultants by the Company Board of Directors, pursuant to certain
metrics including performance, vesting, and incentive as set by the
Company’s Board of Directors and or the CEO; (iv) the compensation
of the Company’s named executive officers as disclosed pursuant to
the SEC’s compensation disclosure rules (which disclosure includes
the Compensation Discussion and Analysis, the compensation tables,
and the narrative disclosures that accompany the compensation
tables) (the “Say-on-Pay Proposal”); and (v) on an advisory basis
that the frequency of say-on-pay votes at future annual meetings of
stockholders be every three years.
The National Association of Corporate Directors (NACD) recently
recognized Claudia Grimaldi as NACD Directorship Certified®.
Directors who earn this designation signal to boards, investors,
and other stakeholders that they are keeping on top of the emerging
issues and trends impacting financial performance, disrupting
business models, and changing the competitive landscape.
About IGC:
IGC Pharma, Inc., (dba IGC) develops advanced cannabinoid-based
formulations for treating diseases and conditions, including, but
not limited to, Alzheimer’s disease, period cramps
(“dysmenorrhea”), premenstrual syndrome (“PMS”), and chronic pain.
IGC has two investigational drug assets targeting Alzheimer’s
disease, IGC-AD1 and TGR-63, which have demonstrated in Alzheimer’s
cell lines the potential to be effective in suppressing or
ameliorating key hallmarks of Alzheimer’s disease, such as plaques
or tangles. IGC-AD1 is a low-dose tetrahydrocannabinol (“THC”)
based formulation that is currently in a 146-person Phase 2
clinical trial for agitation in dementia due to Alzheimer’s
(clinicaltrials.gov, NCT05543681). IGC Pharma, Inc., also markets a
wellness brand, Holief™, that targets women experiencing
premenstrual syndrome and menstrual cramps.
Forward-looking Statements:
This press release contains forward-looking statements. These
forward-looking statements are based largely on IGC’s expectations
and are subject to several risks and uncertainties, certain of
which are beyond IGC’s control. Actual results could differ
materially from these forward-looking statements as a result of,
among other factors, the Company’s failure or inability to
commercialize one or more of the Company’s products or
technologies, including the products or formulations described in
this release, or failure to obtain regulatory approval for the
products or formulations, where required; general economic
conditions that are less favorable than expected, including as a
result of the ongoing COVID-19 pandemic; the FDA’s general position
regarding cannabis- and hemp-based products; and other factors,
many of which are discussed in IGC’s U.S. Securities and Exchange
Commission (“SEC”) filings. IGC incorporates by reference the human
trial disclosures and Risk Factors identified in its Annual Report
on Form 10-K filed with the SEC on July 7, 2023, as if fully
incorporated and restated herein. In light of these risks and
uncertainties, there can be no assurance that the forward-looking
information contained in this release will occur.
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version on businesswire.com: https://www.businesswire.com/news/home/20230821175299/en/
IMS Investor Relations Walter Frank igc@imsinvestorrelations.com
(203) 972-9200
IGC Pharma (AMEX:IGC)
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