- MediPharm Labs (TSX: LABS) issues a critical alert to shareholders about allegations against Regan McGee of Apollo Technology Capital Corporation.
- The allegations include misuse of resources, financial mismanagement, and misleading communications from multiple litigation filings.
- MediPharm advises shareholders to vote using the GREEN proxy in support of the company's nominees at the June 16, 2025 Annual Meeting.
MediPharm Labs Corp. (TSX: LABS), a leader in precision-based cannabinoid pharmaceuticals, has alerted shareholders to severe allegations surrounding Regan McGee, who is at the forefront of Apollo Technology Capital Corporation, a dissenting shareholder vying for board control. These allegations arise from multiple court cases involving McGee's company, Nobul Technologies.
Key allegations from the court documents include claims of misuse of company funds for personal luxury, misrepresentation of business operations, financial mismanagement, and inadequate governance. The timing of these allegations is significant, as Apollo seeks to elect McGee alongside five other directors to MediPharm's board during the Annual Meeting scheduled for June 16, 2025.
MediPharm has urged shareholders to use the GREEN proxy in favor of the company's nominees, citing concerns about the dissident nominees' qualifications and suitability. The company's communique emphasizes the importance of voting to maintain stable governance amid these serious claims against McGee.
The details of the litigation reveal claims of misappropriation and financial mismanagement by McGee and his affiliates, which are addressing concerns that are crucial during Apollo's pursuit of board seats at the upcoming shareholder meeting. MediPharm underscores the strategic importance of this vote, encouraging shareholders to support the company's board nominees to safeguard the firm's governance and financial integrity.
