TORONTO, Dec. 03, 2020 (GLOBE NEWSWIRE) -- QuestCap Inc. (“QuestCap” or the “Company”) (NEO:QSC) reports, in accordance with the policies of the NEO Exchange, that the nominees listed in the Management Information Circular dated November 2, 2020 for the 2020 Annual and Special Meeting of Shareholders of the Company (the “Meeting”) were elected as directors of the Company. 21.02% of all of the issued and outstanding shares of the Company were represented at the Meeting.
Detailed results of the vote for the election of directors held at the Meeting on December 3, 2020 in Toronto, Ontario are set out below.
Election of Directors
The shareholders approved the election as directors of the persons listed below, based on the following vote.
| Board of Director Nominees | % Votes For | % Votes Withheld |
| Doug Sommerville | 99.848% | 0.152% |
| Daniyal Baizak | 94.973% | 5.027% |
| Wen Ye | 94.601% | 5.399% |
| Danny Callow | 94.947% | 5.053% |
Shareholders at the annual meeting also approved the appointment of the Company's auditors, McGovern Hurley LLP, the re-approval of the Corporation’s rolling stock option plan, the name change of the Corporation to Medi-Volve Inc. (or such other name as the board of directors may determine and that is acceptable to the NEO Exchange and applicable regulatory authorities), and the change of registered office of the Corporation from the Province of Quebec to the Province of Ontario.
Stock Option Grant
In addition, the Company has granted a total of 3,380,000 stock options to various officers, directors and consultants of the Company pursuant to the Company’s stock option plan. The options vest immediately and may be exercised at a price of $0.16 per option for a period of five years from the date of grant. The grant of options also remains subject to the approval of the NEO Exchange.
QuestCap’s board of directors would like to express its gratitude to its shareholders for their continued support.
About QuestCap Inc.
QuestCap seeks out disruptive technologies, ground-breaking innovations, and exclusive partnerships to help combat COVID-19 and generate remarkable risk-adjusted returns for investors. Specifically, QuestCap offers investors a diversified investment in the COVID-19 medical space across three areas: prevention, detection, and treatment.
For additional information, please contact:
Doug Sommerville, CEO
Doug.Sommerville@questcapinc.com
For investing enquiries please contact:
Evan Veryard
evan.veryard@questcapinc.com
For media enquiries please contact:
Veronica Welch
veronica@vewprmedia.com
+1-508-643-8000
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the pursuit by QuestCap of disruptive technologies, ground-breaking innovations, and exclusive partnerships to help combat COVID-19 and the merits or potential returns of any such pursuits. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER THE NEO EXCHANGE NOR ITS MARKET REGULATOR HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.