Microbix Annual General Meeting Process Update

MISSISSAUGA, Ontario, March 25, 2020 (GLOBE NEWSWIRE) -- Microbix Biosystems Inc. (TSX: MBX, Microbix®), a life sciences innovator making critical ingredients that enable the production of clinical diagnostics and creating medical devices that help ensure test accuracy, provides an update about its Annual General Meeting (“AGM”).   The AGM will still be held on March 31, 2020 at 1:00 pm, however due to the closure of our planned venue and alternative venues, we will be proceeding with access being provided online or via teleconference only.

Due to the COVID-19 pandemic, Microbix also wants to avoid the need for in-person attendees at this year’s AGM, a goal enabled by setting-up an online link to allow shareholders to listen to the AGM and view a CEO presentation.  Microbix will also provide a teleconference number, so that shareholders without up-to-date computer access can listen-in by telephone.  Details for these modes of remotely attending the AGM will be provided on our website by end of day Friday, March 27, 2020.   

It should be noted that there will be no online voting at the AGM. Microbix therefore reminds shareholders to vote in advance as outlined in the Notice and Access Letter previously sent. The deadline for voting or receiving proxies in relation to this year’s AGM is Friday, March 27, 2020 at 5:00 pm ET. Voting results for the resolutions to be considered by shareholders will be announced by news release following the AGM.

Microbix regrets that shareholders may not attend this year’s AGM in-person.  However, as a virology company, we are very cognizant of the risks of COVID-19 and want to help ensure the health and safety of our shareholders and our staff.

Lastly, Microbix’s business is considered essential to public health in Canada and internationally, so it intends to remain fully operational during this crisis. In so doing, Microbix has the overwhelming support of its many customers and its staff, for whom measures are being taken to maximize their safety.

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with sales usually exceeding $1 million per month and approximately 80 skilled employees. It makes a wide range of critical biological materials for the global diagnostics industry, notably antigens for immunoassays and its laboratory quality assessment products (QAPs™) that support clinical lab proficiency testing, enable assay development and validation, train lab personnel, or help ensure quality control of clinical diagnostic tests. Microbix antigens and QAPs are sold to many customers worldwide, at present primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its biological expertise and infrastructure to develop other proprietary products and technologies, most notably Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots.

Microbix is a publicly-traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of the AGM and its logistics, essential business designation or operational status, financial results or the outlook for the business, risks associated with its financial results and stability, its current or future products, development projects such as those referenced herein, sales to foreign jurisdictions, engineering and construction, production (including control over costs, quality, quantity and timeliness of delivery), foreign currency and exchange rates, maintaining adequate working capital and raising further capital on acceptable terms or at all, and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and represent the Company’s judgement as of the date of this new release, and the Company is under no obligation to update or alter any forward-looking information.

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Copyright © 2020 Microbix Biosystems Inc.          Microbix®, Kinlytic®, and QAPs™ are trademarks of the Company