ART Advanced Research Technologies Inc.

ART Advanced Research Technologies Inc.

May 26, 2009 12:49 ET

ART Advanced Research Technologies Announces Results of the 2009 Annual Shareholders' Meeting

MONTREAL, CANADA--(Marketwire - May 26, 2009) - ART Advanced Research Technologies Inc. ("ART" or the "Company") (TSX:ARA), a Canadian medical device company and a leader in optical molecular imaging products for the healthcare and pharmaceutical industries, is pleased to announce that it held its annual shareholders' meeting in Montreal on May 26, 2009. At the meeting, the shareholders of the Company elected the members of the Board of Directors who will serve until the next annual shareholders' meeting.

The directors of the Company, who were elected until the next annual meeting of shareholders, are: Mr. Jacques Courville, former Vice President, Medical Research of Merck Frosst Canada Inc.; Mr. Raymond Cyr, member of several boards of directors, including G.T.C. Transcontinental Ltd.; Mr. George N. Fugelsang, former Chief Executive Officer of Dresdner Kleinwort Benson North America; and Mr. Sebastien Gignac, Chairman, President and Chief Executive Officer of ART. Mr. Raymond Cyr acts as lead director of the Board of Directors.

ART shareholders also voted in favor of resolutions to (1) renew and approve the unallocated stock options, rights and other entitlements under the Company's Amended and Restated Employee Stock Option Plan and Amended and Restated Director Stock Option Plan (Resolution 2009-1), (2) approve matters relating to a private placement of Series 4 Preferred Shares and Series 5 Preferred Shares of the Company (Resolution 2009-2), and (3) approve an amendment and restatement of the Company's deferred share unit plan, and the adoption, as a result, of the Company's amended and restated share bonus and deferred share unit plan (Resolution 2009-3).

Speaking as Chairman, President and Chief Executive Officer of ART, Sebastien Gignac provided the meeting with an overview of the Company's progress over the last year.

The Board of Directors, which met immediately after the shareholders' meeting, has re-appointed the following persons to serve as officers of the Company: Mr. Sebastien Gignac, Chairman of the Board, President and Chief Executive Officer; Mr. Jacques Bedard, Chief Financial Officer; Mr. Dino DiCamillo, Vice President, Global Sales and Marketing, Preclinical Imaging; Mr. Mario Khayat, Vice President, Optical Products; Dr. Joseph Kozikowski, Chief Medical Officer; and Mrs. Marie-France Nantel, Corporate Secretary.

About ART

ART Advanced Research Technologies Inc. is a leader in molecular imaging products for the healthcare and pharmaceutical industries. ART has developed products in medical imaging, medical diagnostics, disease research, and drug discovery with the goal of bringing new and better treatments to patients faster. The Optix® optical molecular imaging system, designed for monitoring physiological changes in living systems at the preclinical study phases of new drugs, is used by industry and academic leaders worldwide. The SoftScan® optical medical imaging device is designed to improve the diagnosis and treatment of breast cancer. Finally, the Fenestra® line of molecular imaging contrast products provides image enhancement for a wide range of preclinical Micro CT applications allowing scientists to see greater detail in their imaging studies, with potential extension into other major imaging modalities. ART is commercializing some of these products in a global strategic alliance with GE Healthcare, a world leader in mammography and imaging. ART's shares are listed on the TSX under the ticker symbol ARA. For more information on ART, visit our website at

This press release may contain forward-looking statements subject to risks and uncertainties that would cause actual events to differ materially from expectations. These risks and uncertainties are described in the most recent Annual Information Form and the financial statements for the year ended December 31, 2008, available on SEDAR (

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