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Goodwood to Nominate New Directors for COSCIENS Biopharma Inc.
Goodwood to Nominate New Directors for COSCIENS Biopharma Inc. Canada NewsWire ...
About this update from Cosciens Biopharma Inc.
[{"type":"text","content":"\n\n\n\n Goodwood to Nominate New Directors for COSCIENS Biopharma Inc.\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n New Director Nominees are Strong Leaders to Revitalize COSCIENS\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n May 23, 2025\n \n\n /CNW/ - Goodwood Fund and Puccetti Funds Management Inc. (collectively, \"Goodwood\") announced today that\n \n Goodwood\n \n has notified COSCIENS Biopharma Inc. (NASDAQ: CSCI) (TSX: CSCI) that\n \n Goodwood\n \n intends to nominate six new highly qualified and experienced directors (the \"Shareholder Nominees\") for election at the upcoming annual and special meeting of COSCIENS' shareholders (the \"Meeting\") scheduled to be held on\n \n June 26, 2025\n \n .\n \n\n\n Goodwood\n \n beneficially owns, directly or indirectly, an aggregate of 257,257 common shares of COSCIENS, or approximately 8.2% of COSCIENS' outstanding common shares.\n \n\n On\n \n December 19, 2024\n \n , Goodwood Inc., the investment manager of Goodwood Fund, wrote to the board of COSCIENS outlining continuing failures of COSCIENS' board and management and the imperative for significant change.  A copy of that letter was included as an Exhibit to an amended Schedule 13D filed by\n \n Goodwood\n \n with the U.S. Securities and Exchange Commission on\n \n December 20\n \n , 2024.\n \n\n Notwithstanding its receipt of the\n \n December 19, 2024\n \n letter, CONCIENS' board took no steps to engage with Goodwood.  Instead, COSCIENS' board has continued to ignore its shareholders and take actions that demonstrate that COSCIENS' existing directors are not willing or able to take the actions necessary to responsibly create long-term value for COSCIENS and its shareholders or to restore investor confidence.\n \n\n Absent new board leadership,\n \n Goodwood\n \n believes that COSCIENS will continue its legacy of shareholder value destruction, irresponsible overspending, including on long-shot R&D programs, and broken promises. The current board of COSCIENS is out of ideas and out of time....