MediPharm Announces Complete Dismissal of Dissident Court Proceeding Related to Annual and Special Meeting

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[{"type":"text","content":"MediPharm Announces Complete Dismissal of Dissident Court Proceeding Related to Annual and Special Meeting\n\n\n\n TORONTO, June 11, 2025 (GLOBE NEWSWIRE) -- MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE: MLZ) (“\n \n MediPharm\n \n ” or the “\n \n Company\n \n ”), a pharmaceutical company specialized in precision-based cannabinoids, today announced that the Superior Court of Justice – Ontario (Commercial List) (the “\n \n Court\n \n ”) has fully dismissed the application (CV-25-00743454-00CL) (the “\n \n Application\n \n ”) issued by Apollo Technology Capital Corporation (“\n \n Apollo\n \n ”) and Nobul Technologies Inc. (together with Apollo, the “\n \n Applicants\n \n ”) against the Company on May 16, 2025 (the “\n \n Notice\n \n ”).\n \n\n The Applicants sought an order from the Court, amongst other things, appointing a third-party independent chair to preside over the Annual and Special Meeting of Shareholders of the Company (the “\n \n Meeting\n \n ”) on June 16, 2025. The Applicants argued that MediPharm has a “design or plan to invalidate proxies” and that the Company had acted improperly warranting the appointment of a third-party independent chair.\n \n\n The Court dismissed the Application in full.\n \n\n In doing so, the Court found that a third-party independent chair was not required in the circumstances as there was no evidence or indication that MediPharm’s proposed meeting chair will act unfairly at the Meeting.\n \n\n Regarding the conduct of Apollo’s principal, Mr. Regan McGee, the Court found:\n \n\n\n “The evidence shows that Mr. McGee has threatened to release a draft press release which, among other things, compared Mr. Pidduck to known serial killers. Press Releases have also been issued by Mr. McGee or the Applicants which accuse MediPharm and the Board of securities fraud, breach of fiduciary duty and running a corrupt election process to entrench themselves. Mr. McGee has threatened to sue the Board by way of a derivative action for breach of fiduciary duty and associated damages because of the rejection of the $3.4 million offer and has commenced a lawsuit against MediPharm, two of its senior officers and directors, as well as the Company...

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