Conavi Medical Announces Results from Its Annual General Meeting of Shareholders

Article content

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.

Article content

Article content

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.

Article content

Article content

Article content

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).

Article content

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).

Article content

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.

Article content

Article content

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.

Article content

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.