Business
Zomedica to Remain Domiciled in Canada
Zomedica to Remain Domiciled in Canada.
About this update from Zomedica Corp.
[{"type":"text","content":"\n ANN ARBOR, Mich., Dec. 15, 2020 (GLOBE NEWSWIRE) -- Zomedica Corp. (NYSE American: ZOM) (“Zomedica” or the “Company”), a veterinary health company creating point-of-care diagnostics products for dogs and cats, today announced that while a majority of shareholders voted at its Special Virtual-Only Meeting of Shareholders held on December 15, 2020 in favor of the Company’s proposed domestication to Delaware, shareholders failed to approve the proposal by the necessary 2/3 vote and therefore the domestication will not be implemented. \"I would like to sincerely thank our many shareholders who supported management's recommendation and voted in favor of the domestication of Zomedica, which would have enabled management to achieve a significant cost savings for the Company,\" stated Robert Cohen, Interim Chief Executive Officer of Zomedica. Because the domestication proposal failed to receive the votes required for approval, the implementation of a new stock option plan will not occur even though it was approved by the requisite majority vote at the meeting.  The Company will continue to use its present stock option plan to grant options to its personnel. Mr. Cohen further stated that, \"Remaining a Canadian company will have no impact whatsoever on our upcoming commercial release of TRUFORMA™, planned for March 30, 2021.  Management, as well as all employees of Zomedica, continues to be focused on that release, as evidenced by the recently announced \"launch team\" that has been put in place.  We look forward to providing additional updates as we prepare for this exciting event.” Protected by approximately 70 issued and pending patents, the TRUFORMA diagnostic platform uses Bulk Acoustic Wave (“BAW”) technology, developed by Qorvo (NASDAQ: QRVO), to provide a non-optical and fluorescence-free detection system for use at the point-of-care. BAW technology, also used in cell phones and in the world’s most advanced radar and communications systems, is an extremely reliable and precise technology. Zomedica expects to begin commercial sales of TRUFORMA on March 30, 2021. About ZomedicaBased in Ann Arbor, Michigan, Zomedica (NYSE American: ZOM) is a veterinary health company creating products for dogs and cats by focusing on the unmet needs of ...