XORTX Therapeutics to Elect Three New Directors as Financing Condition
XORTX Therapeutics will propose three new director nominees—George Scorsis, Richard Grieve and Mika Grasso—for election at its March 24 shareholder meeting to replace three current nominees. This change is a condition of a financing initiative subject to TSXV approval, and the directors will resign if it does not close.
1. Nominee Replacement at March 24 Meeting
XORTX Therapeutics will present George Scorsis, Richard Grieve and Mika Grasso as substitutes for Krysta Davies Foss, Raymond Pratt and Paul Van Damme at the annual and special shareholder meeting on March 24.
2. Conditional Financing Requirement
Appointment of the three new directors is a contractual condition of a financing initiative currently under negotiation. The financing must be approved by the TSXV Venture Exchange, and the new directors will resign if the financing is not completed.
3. Profiles of New Nominees
George Scorsis brings over 20 years of leadership in regulated sectors including pharmaceuticals; Richard Grieve offers finance and operational expertise from Bardel Entertainment; Mika Grasso has investment management experience in family offices and major banks.