Satellos Bioscience (MSCL) announces AGM results

Satellos Bioscience Inc. (TSX: MSCL, OTCQB: MSCLF) (“Satellos” or the “Company”), a biotech company developing new small molecule therapeutic approaches to improve the treatment of muscle diseases and disorders, announced today the results of its Annual and Special Meeting of Shareholders held June 18, 2025 (the “Meeting”).

Satellos is pleased to announce that all the nominees listed in the management information circular dated May 12, 2025 (the “Circular”), were elected as directors. Each director was elected with greater than 97% of the votes cast by shareholders present at the Meeting or represented by proxy with a total of 41.15% of the issued and outstanding common shares of the Company represented in person and by proxy at the Meeting.

The results of the vote are detailed below:

The shareholders also approved the adoption of an amendment to the Company’s articles to effect a reverse stock split of the Company’s outstanding common shares at a ratio in the range of 1-for-5 to 1-for-15 (the “Reverse Stock Split”), all as more particularly described in the Circular and subject to the determination by the Board of Directors to implement the Reverse Stock Split. If the Board of Directors determines at a later date to implement such Reverse Stock Split, the Company would then announce a Reverse Stock Split ratio and the anticipated effective date of the Reverse Stock Split.

Satellos shareholders also voted in favor of the re-appointment of PricewaterhouseCoopers LLP as auditors of the Company.

Please refer to Circular available on SEDAR+ at www.sedarplus.com for more details on the matters covered at the Meeting. Final voting results on all matters voted on at the Meeting will also be filed on SEDAR+.

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