#Canada #Toronto #MediPharm Labs #Apollo Capital #Board Change

Apollo Technology Capital Calls for Board Change at MediPharm Labs

Apollo Technology Capital Corporation, a significant shareholder of MediPharm Labs Corp., has raised alarms over the company's prolonged underperformance under its current leadership. The corporation asserts that MediPharm is suffering from strategic failures and a shocking lack of transparency, which has resulted in shareholder value destruction amounting to approximately $1 billion.

Launched on May 20, 2025, their new campaign at CureMediPharm.com outlines a comprehensive five-pillar plan aimed at reversing MediPharm's troubling trajectory. The plan advocates for:

1. Replacing ineffective leadership with executives aligned with shareholder interests.
2. Implementing stringent financial discipline and conducting a strategic review to assess current operations.
3. Retaining valuable strategic assets for long-term shareholder value.
4. Unlocking international growth opportunities in the medical space.
5. Restoring trust through increased transparency and improved governance.

The current financial position of MediPharm is dire; with its cash reserves dwindling to a mere $8 million by March 31, 2025, it is projected to exhaust its funds by November. Despite this alarming situation, the company’s executives continue to receive extravagant compensation packages, further angling the interests of the board away from shareholders.

Apollo's circular highlights the qualifications of six director nominees: John Fowler, Alan D. Lewis, David Lontini, Demetrios Mallios, Regan McGee, and Scott Walters. These individuals are experienced leaders with backgrounds that span turnaround strategies, mergers and acquisitions, and operational efficiency. Collectively, they aim to bring fresh perspectives to the board, fostering a commitment to accountability and constructive dialogue with shareholders.

Notably, Apollo criticizes the current leadership for avoiding difficult conversations about its failures, such as failing to hold shareholder calls for three consecutive quarters. Instead of addressing previous shareholder inquiries, the leadership team has seemingly opted for silence, leaving many shareholders frustrated and dissatisfied.

Under the upcoming Annual and Special Meeting of Shareholders scheduled for June 16, 2025, stakeholders will be urged to vote using Apollo's gold proxy card, disregarding the green proxy card from MediPharm. This pivotal vote signifies a potential turning point for the future of the company, as Apollo insists that a fundamental board overhaul is necessary for recovery and shareholder confidence.

To further support their claims and engender shareholder action, Apollo's campaign site also discloses specific measures that its nominees would execute within their first 100 days if elected. This level of transparency is aimed at securing shareholder commitments to the new direction proposed by Apollo Capital.

In a broader context, the issues surrounding MediPharm Labs underline the critical importance of corporate governance and the responsibility of company boards to their shareholders. As the financial health of MediPharm deteriorates, the urgency for change becomes increasingly clear. The coming weeks are critical for stakeholders who may determine the fate of one of Canada’s notable public companies. Stakeholders can keep tabs on the campaign and access further information on CureMediPharm.com as updates become available.

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For any inquiries or more information regarding the campaign, shareholders can contact Carson Proxy Advisors Ltd. via their toll-free number at 1-800-530-5189 or by text message at 416-751-2066.

Discerning a path forward for MediPharm Labs will necessitate active engagement from its shareholders to reclaim value and reinvigorate the company’s standing in the market. The forthcoming Annual Meeting presents an essential opportunity to effect genuine change and safeguard investor interests.