Special meeting on deep medical annual and shareholder voting results

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Toronto, May 18, 2022 (Globe Newswire) – Profund Medical Corporation (TSX: PRN; NASDAQ: PROF) (“Deep“Or”Institution“) Glad to announce the results of the vote from the annual and special meeting of shareholders held today (“Meeting”). A total of 12,858,319 common shares, representing 61.880% of the outstanding common shares, were represented at the meeting in person and by proxy.

All matters set forth in the Company’s Management Information Circular dated April 8, 2022 have been placed before the shareholders (“Information circular”), Approved by the required majority vote given at the meeting.

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Director selection

At the meeting, the company’s shareholders elected seven nominees for the board of directors (“Board”). The detailed results of the election for the election of directors are as follows:

Nominee For For% Stuck % Is blocked
Arun takes care 6,626,063 96.314% 330,210 3.686%
Brian Elact 1,2,3 96,991% 269,595 3.009%
Kenneth Galbraith 6,69,923 97.004% 268,360 2.996%
Cynthia Lavoie 8,924,926 99.628% 33,355 0.372%
Muriel Lorty 8,924,926 99.628% 33,355 0.372%
Arthur Rosenthal 6,555,913 95.508% 402,370 4.492%
Chris Shah | 7,924,593 99.624% 33,690 0.376%

Other issues

PricewaterhouseCoopers LLP has been approved by the company’s shareholders to be appointed as the company’s auditor until the conclusion of the next annual meeting or its successor has been duly appointed, as determined by the remuneration board and a general. Resolutions approving all unselected options under the company’s share options plan, as specified in the information circular. Detailed results of the vote for all resolutions will be posted on www.sedar.com under the company profile.

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About Deep Medical Corporation

Profound is a commercial-level medical device company that develops and markets customizable, intersection-free therapies for the elimination of diseased tissue.

Profine is commercializing TULSA-PRO®, a technology that combines real-time MRI, robot-driven transurethral ultrasound and closed-loop temperature response control. TULSA-PRO® is designed to provide a surgeon-customized and predictable radiation-free enlargement of the surgeon-prescribed prostate volume while actively protecting the urethra and anus to help preserve the patient’s normal functioning ability. TULSA-PRO® has the potential to be a flexible technology in customized prostate ablation, including interstitial cancer, locally radio-recurrent cancer, locally advanced prostate cancer retention and hematuria palliation, and large-scale benign prostatic hyperplasia (“BPH”). TULSA-PRO® CE marked, Health Canada approved, and 510 (k) US Food and Drug Administration (“The FDA”).

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Profound is also commercializing Sonalleve®, an innovative therapeutic platform that recognizes CE for the treatment of pain relieving uterine fibroids and bone metastases. Sonalleve® has been approved by the National Medical Products Administration of China for non-invasive treatment of uterine fibroids and has received FDA approval for the treatment of osteoarthritis osteoma under a human device waiver. Additional potential treatment markets for the company Sonalleve® are in the early stages of exploration where the clinical application of the technology has been demonstrated, such as non-invasive remission of stomach cancer and hyperthermia for cancer therapy.

Future plans

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This release may include expectations regarding the effectiveness of Prefund’s technology in the treatment of prostate cancer, BPH, uterine fibroids, analgesic pain treatment and osteoid osteoma, and includes visionary statements regarding its business. Often, but not always, far-sighted statements can be identified using words such as “plan”, “expected”, “expected”, “determined”, “intentionally”, “thought”, “conjecture”, and so on. “,” Suggests “or” such variations of words and phrases (with negative variations), or states that some verbs, events or results “may”, “be found”, “will be”, “may be” or “will be” “, Will happen or will be acquired. Such statements are based on the current expectations of deep management. The foresighted events and situations discussed in this release may not occur on a specific date or at all and may vary materially due to known and unknown risk factors and uncertainties affecting the company, including risk in the medical device industry, regulatory approvals, reimbursement, economic factors, equity. The market generally and the risks associated with growth and competition. While Profund has sought to identify important factors that may make material actions, events, or outcomes materially different from those described in the preceding statements, there may be other factors that may distinguish actions, events, or outcomes from expected, predictable, or objective ones. No visionary statement can be confirmed. Also, there is uncertainty about the spread and profound activities of the Covid-19 virus, its product demand, its impact on the global supply chain and economic activity in general. Except as required by applicable securities law, the advance statements only refer to the date on which they were made and profound new information, whether as a result of future events, does not impose any obligation to publicly update or amend any prudent statement, or otherwise, required by law. Except.

For more information, please contact:

Stephen Kilmer
Investor Relations
[email protected]
T: 647-872-4849

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