InMed Pharmaceuticals Inc. (INM) Earnings Call Transcript & Summary

Thank you, ladies and gentlemen. The Annual General Meeting of InMed Pharmaceuticals will now come to order. My name is Eric Adams, and I am the President, CEO as well as the Director of the company. I will be acting as the chair of this meeting. We'll go through this in a procedural fashion. I'll just introduce each item as we go, starting with the appointment of the Secretary. I ask that Mark Bissegger of Norton Rose Fulbright Canada LLP and Legal Counsel for the company, act as Secretary of this meeting. Appointment of the Scrutineer, I appoint Anita Basi of Computershare Investor Services, Inc. as Scrutineer of this meeting. Notice of meeting. The secretary is tabled for inspection by any shareholder or proxy holder, a declaration that the notice calling this Annual General Meeting was delivered to shareholders in conformity with the applicable law. I will dispense with calling for a reading of the notice of the meeting and direct that a copy of the declaration be kept by the Secretary with the records of the meeting. Scrutineer's report on attendance. The Scrutineer has submitted a report on attendance to the Secretary. The Secretary will now read the Scrutineer's report.

The Scrutineer's report reads as follows: There are [ 209 ] shareholders represented by proxy, holding 5,971,073 shares represented at the meeting today. In the aggregate, that represents 42.24% of the outstanding shares.

Great. I adopt the Scrutineer's report and declare accordingly that a quorum is present. Adequate notice having been given and a quorum being present, I therefore declare this meeting to be properly constituted for the transaction of business. Before continuing with the formal part of the meeting, I would like to note that present today and joining us are Bruce Colwill, the company's Chief Financial Officer; as well as the directors, Dr. William Garner, the Chairman of the company; Andy Hull; and Catherine Sazdanoff. Thank you for joining us. I've been advised that we have guests at this meeting other than registered shareholders and proxy holders entitled to vote at this meeting. I welcome all guests. However, I would like to remind them that they do not have the legal right to vote on any resolutions and are not entitled to speak at the meeting. If you have a comment or a question during the meeting, press the star and then the #1 on your telephone Keypad. If you would like to withdraw your question, then press the pound key. Now for the financial statements and auditor's report. The financial statements of the company for the year on June 30, 2021, and the report of the auditor's thereon was delivered to the shareholders prior to this meeting. If there are any questions which any shareholder would like to ask in respect of the financial statements and the report, I would be glad to answer them or call on others to do so. I declare that the audited financial statements for the year ended June 30, 2021, together with the auditor's report thereon have been received. Turning now to the directors nominated for the election. It is now in order to proceed with the nomination and election of directors. The number of directors of the company has been fixed at 5, and it is anticipated that a full slate of directors will be elected. We have received no nominations for election as a director for the ensuing year from shareholders in accordance with the advanced notice provisions contained in Section 14.2 of the company's articles or the Business Corporations Act of British Columbia. I now ask the Secretary to read the names of the persons nominated.

The names of the persons nominated for directors for the ensuing year are Mr. Eric A. Adams; Mr. Adam Cutler; Dr. William Garner; Mr. Andrew Hull; and Ms. Catherine Sazdanoff.

Since the number of nominees is the same as the number of vacancies to be filled, I ask the Secretary to read the proposed motion for the election of the nominees as directors.

Be it resolved that the persons nominated for election as directors be elected as directors of the company to hold office until the next Annual General Meeting.

And who will move the motion?

So moved.

Thank you, Bruce. Is there any discussion on this motion? Okay. As we have sufficient proxies in favor of this motion, I declare this resolution duly carried. Now turning to the appointment of auditors. The next item of business before the meeting relates to the appointment of the auditors of the company. I now ask the Secretary to read the proposed motion.

Be it resolved that KPMG LLP be appointed as auditors of the company to hold office until the next Annual General Meeting of the company and that the directors of the company be authorized to fix their remuneration to be paid to the auditors. And who will move this motion?

This call will so move.

Thank you, Bruce. Is there any discussion on this motion? Okay. As we have sufficient proxies in favor of this motion, I declare this motion duly carried. Is there any further business to be brought before [Audio Gap]. Okay. If not, and I propose a motion terminating the meeting. Who will move the motion?

This call will so moves.

Thank you, Bruce. Is there any discussion on this motion? Okay. I declare the resolution duly carried and the meeting to be terminated. Appreciate everyone listening in and participating at our Annual General Meeting. We didn't have many or any special items to be voted on, but it's been a tremendous year for the company. We'll be communicating more with shareholders early in the new year in terms of both a summary of our accomplishments in 2021 as well as laying out the framework for 2022 and the things that we are setting our sights on in terms of achievements in the new year. But it's certainly been an eventful year, and we think it's going to be a very positive one going into 2022. Thank you very much for everyone attending, and we'll be in communication soon. And back to you, [ Laurie ].

Thank you. Ladies and gentlemen, this does conclude today's conference. Thank you all for participating. You may now disconnect. Have a great day.