MONTREAL, QUEBEC–(Marketwired – July 14, 2017) – Velan Inc. (the “Corporation”) (TSX:VLN) announced today that each director nominee listed in the Management Proxy Circular dated May 22, 2017 was elected as Director of the Corporation during the Annual of the Shareholders held on July 13, 2017 in Montréal, Québec.
The details of the election are as follows:
| DIRECTOR NOMINEE | OUTCOME | VOTES FOR | % FOR | VOTES WITHHELD | % WITHHELD |
| Tom Velan | elected | 80,495,042 | 99.85% | 119,520 | 0.15% |
| William Sheffield | elected | 80,291,962 | 99.60% | 322,600 | 0.40% |
| Kenneth MacKinnon | elected | 80,291,962 | 99.60% | 322,600 | 0.40% |
| Peter Velan | elected | 80,462,542 | 99.81% | 152,020 | 0.19% |
| Cheryl Hooper | elected | 80,613,562 | 99.99% | 1,000 | 0.01% |
| Jacques Latendresse | elected | 80,292,262 | 99.60% | 322,300 | 0.40% |
| Robert Velan | elected | 80,495,042 | 99.85% | 119,520 | 0.15% |
| Yves Leduc | elected | 80,495,042 | 99.85% | 119,520 | 0.15% |
The results of the final votes regarding all matters subject to a vote during the annual meeting will be made available under the Corporation’s profile on SEDAR (www.sedar.com).
Velan Inc.
Yves Leduc
President & CEO
(514) 748-7743
(514) 748-8635 (FAX)
Yves Leduc
President & CEO
(514) 748-7743
(514) 748-8635 (FAX)
Velan Inc.
John D. Ball
Chief Financial Officer
(514) 748-7743
(514) 748-8635 (FAX)
www.velan.com
