Conavi Medical Announces Results from Its Annual General Meeting of Shareholders
TORONTO, April 02, 2026 (GLOBE NEWSWIRE) — Conavi Medical Corp. (TSXV: CNVI; OTCQB: CNVIF) (“Conavi Medical” or the “Company”), a commercial stage medical device company focused on designing, manufacturing, and marketing imaging technologies to guide common minimally invasive cardiovascular procedures, announced today the results of its annual general meeting of shareholders held virtually on March 31, 2026 (the “Meeting”), as well as the adoption of amendments to the Company’s Stock Option Plan.
A total of 54,352,402 common shares were voted in connection with the Meeting, representing approximately 52.56% of the issued and outstanding common shares of the Company.
Each of the seven nominees listed in the management information circular of the Company (the “Circular”) dated February 17, 2026, namely, Thomas Looby, Aaron Davidson, Craig Podolsky, Robert D. Mitchell, Susan Allen, Cathy Steiner and Anthony J. Giovinazzo, was elected as a director of the Company for the ensuing year or until his or her successor is elected or appointed (with at least 98.5% of votes cast voting in favour for each director).
In addition, Conavi Medical reports that an ordinary resolution approving the appointment of PricewaterhouseCoopers LLP as the Company’s auditors for the ensuing year and to authorize the directors to fix the auditors’ remuneration was passed at the Meeting (with 99.49% of votes cast voting in favour).
Further, an ordinary resolution of shareholders of the Company was passed (with 97.57% of votes cast voting in favour) approving the amendment of the Company’s Omnibus Equity Incentive Plan in order to increase the aggregate number of common shares that may be issued thereunder to not more than 18,187,372 common shares. The Company is increasing the number of shares available for issuance in the Omnibus Equity Incentive Plan given the Company’s expanded capitalization following its public offerings completed in April 2025 and January 2026, and the Company believes this will provide greater flexibility to continue to attract, retain and motivate directors and executive officers, while providing room for future growth.
Following this increase, the number of common shares issuable under the Omnibus Equity Incentive Plan is equal in the aggregate to approximately 15.0% of the Company’s outstanding common share equivalents (with the denominator consisting of (i) 103,416,756 common shares issued and outstanding and (ii) 17,500,000 common shares underlying the Company’s pre-funded warrants issued in the Company’s April 2025 prospectus offering). On a fully-diluted basis, after including in the denominator all of the Company’s outstanding warrants as well as the common shares to be reserved under the Omnibus Equity Incentive Plan, the common shares issuable under the Omnibus Equity Incentive Plan represents in the aggregate approximately 11.4% of the Company’s fully diluted shares.
Finally, an ordinary resolution of disinterested shareholders of the Company was passed (with 98.47% of votes cast being in favour) approving amendments to certain stock options held by the Company’s former Chief Financial Officer (“CFO”). These amendments were implemented pursuant to the terms of the Company’s separation agreement with the former CFO, and provide for an extension of the vesting period from December 24, 2025 to March 31, 2026 and an extension of the period during which the options may be exercised. The net effect of the amendments is that 74,763 vested options held by the former CFO will benefit from an extended exercise period ending December 24, 2026 (or, if sooner, the date the former CFO commences alternative employment) instead of expiring on January 23, 2026.
The amendments to the Company’s Omnibus Equity Incentive Plan and to the former CFO’s stock options remain subject to the approval of the TSXV. Options granted pursuant to or affected by the amendments to the Company’s Omnibus Equity Incentive Plan may not be exercised until TSXV approval has been received.
About Conavi Medical
Conavi Medical is focused on designing, manufacturing, and marketing imaging technologies to guide common minimally invasive cardiovascular procedures. Its patented Novasight Hybrid™ System is the first system to combine both intravascular ultrasound (IVUS) and optical coherence tomography (OCT) to enable simultaneous and co-registered imaging of coronary arteries. The Novasight Hybrid System has 510(k) clearance from the U.S. Food and Drug Administration; and regulatory approval for clinical use from Health Canada, China’s National Medical Products Administration, and Japan’s Ministry of Health, Labor and Welfare. For more information, visit http://www.conavi.com/.
Notice on forward-looking statements:
This press release includes forward-looking information or forward-looking statements within the meaning of applicable securities laws regarding the Company and its business, which may include, but are not limited to, statements with respect to the commercialization of Conavi’s Novasight Hybrid™ System and the approval of amendments to the Company’s Omnibus Equity Incentive Plan and certain stock option grants by the TSXV. All statements that are, or information which is, not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking information or statements”. Often but not always, forward-looking information or statements can be identified by the use of words such as “shall”, “intends”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate” “anticipate” or any variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “might”, “can”, “could”, “would” or “will” be taken, occur, lead to, result in, or, be achieved. Such statements are based on the current expectations and views of future events of the management of the Company. They are based on assumptions and subject to risks and uncertainties. Although management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including, without limitation, those listed in the “Risk Factors” section of the annual information form of the Company dated February 26, 2026 (available on the Company’s profile at www.sedarplus.ca). Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
No regulatory authority has approved or disapproved the content of this press release. Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
CONTACT:
Chief Financial Officer: Mark Quick, 416-483-0100
Investors: Christina Cameron, 416-483-0100 ext.121, IR@conavi.com
