Spectral Diagnostics, Inc. (DIAGF: OTCQX International) | Spectral Diagnostics provides update on results of annual and special meeting

OTC

Spectral Diagnostics provides update on results of annual and special meeting

May 24, 2013

OTC Disclosure News Service

Toronto, ONT, Canada

Spectral Diagnostics Inc. (TSX: SDI) (OTC QX: DIAGF) (the “Corporation“) today announced that Mr. Anthony Bihl has been appointed as the Chairman of the board.  The Corporation also notes that at the annual and special meeting of shareholders that was held earlier today, all eight nominees for the board were elected as a matter of corporate law, however, two of the directors received a greater number of votes withheld than votes in favour.  Pursuant to the Majority Voting Policy of the Corporation, those two directors have each tendered their resignations as directors, effective only on acceptance by the board. Full details are contained in the Report of Voting Results for the Meeting which has been filed on Sedar at www.Sedar.com.

Pursuant to the Majority Voting Policy, the board has convened and referred the resignations to an ad hoc nominating committee to consider whether to accept or reject such resignations.  The Corporation will announce the results of the ad hoc nominating committee’s recommendation and board’s determination once this matter has been concluded.

About Spectral Diagnostics

Spectral is a Phase III company seeking U.S. FDA approval for its lead theranostics product (Toraymyxin) for the treatment of septic shock. Toraymyxin is a therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream. Directed by the Company’s Endotoxin Activity Assay (EAA™), the only FDA-cleared diagnostic for the risk of developing sepsis, Spectral’s EUPHRATES trial is the world’s first theranostics trial in the area of sepsis.

Spectral is listed on the Toronto Stock Exchange under the symbol SDI, and on the OTC QX under the symbol DIAGF. For more information please visit www.spectraldx.com

Forward-looking statement

Information in this news release that is not current or historical factual information may constitute forward looking information within the meaning of securities laws. Implicit in this information, particularly in respect of the future outlook of Spectral and anticipated events or results, are assumptions based on beliefs of Spectral’s senior management as well as information currently available to it. While these assumptions were considered reasonable by Spectral at the time of preparation, they may prove to be incorrect.

Readers are cautioned that actual results are subject to a number of risks and uncertainties, including the availability of funds and resources to pursue RD projects, the successful and timely completion of clinical studies, the ability of Spectral to take advantage of business opportunities in the biomedical industry, the granting of necessary approvals by regulatory authorities as well as general economic, market and business conditions, and could differ materially from what is currently expected.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this statement.

SOURCE: Spectral Diagnostics Inc.

For further information:

Spectral Diagnostics Inc.
Anthony Businskas
Executive Vice President and CFO
416-626-3233 ext. 2200

Adam Peeler
Investor Relations
416-815-0700 ext. 225
apeeler@tmxequicom.com

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

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