Customer demand remains strong as Company accelerates investment in manufacturing infrastructure and reliability
Vancouver, British Columbia--(Newsfile Corp. - September 24, 2026) - Burcon NutraScience Corporation (TSX: BU) (OTCQB: BRCNF) ("Burcon" or the "Company"), a global technology leader in plant-based protein innovation, today announced the results of its Annual General and Special Meeting of Shareholders (the "Meeting") and provided an update to its commercial guidance.
Annual General and Special Meeting Results
All of the six nominees set out in Burcon's amended and restated management proxy circular dated September 4, 2026 proposed by management for election to the board of directors at the Meeting were elected to the board. Each director elected will hold office until the conclusion of the next annual general meeting of shareholders of Burcon or until his successor is elected or appointed, unless his office is earlier vacated in accordance with Burcon's articles or with applicable law.
The results of the voting on the election of the directors are as follows:
Director Nominee | Votes For | % Votes For | Votes Withheld | % Votes Withheld | Non Votes |
Alan Chan | 4,564,687 | 99.18 | 37,531 | 0.82 | 0 |
Peter H. Kappel | 3,241,681 | 70.44 | 1,360,537 | 29.56 | 0 |
John A. Vassallo | 4,419,327 | 96.03 | 182,891 | 3.97 | 0 |
James Peter Pekar | 4,565,087 | 99.19 | 37,131 | 0.81 | 0 |
Philip James Dowad | 4,595,712 | 99.86 | 6,506 | 0.14 | 0 |
Chris Bunio | 4,596,112 | 99.87 | 6,106 | 0.13 | 0 |
Shareholders of the Company also approved the appointment of KPMG LLP as auditors of the Company and the resolutions related to the Company's private placement of convertible debentures (the "Convertible Debenture Financing"). Disinterested shareholder approval was obtained in connection with a certain resolution in relation to the Convertible Debenture Financing. The Company has filed a report of voting results setting out the full details of the voting results for each resolution passed at the Meeting on the SEDAR+ website at www.sedarplus.ca.
With the required shareholder approvals received, Burcon intends to proceed with the previously announced Convertible Debenture Financing for aggregate principal proceeds of up to $21 million, subject to final approval of the Toronto Stock Exchange (the "TSX") and satisfaction of the remaining closing conditions.
Updated Commercial Guidance
Burcon is updating its previously announced commercial guidance and now expects:
At least $6 million in revenue for calendar year 2026;
An annualized revenue run rate of at least $10 million exiting calendar year 2026;
Continued expansion in customer demand and the commercial pipeline; and
Positive cash flow to be achieved in calendar year 2027.