The Concerned Shareholders of Helix BioPharma Corp.

January 27, 2012 13:56 ET

The Concerned Shareholders of Helix BioPharma Corp. Thank Shareholders for Their Overwhelming Support for Change

TORONTO, ONTARIO--(Marketwire - Jan. 27, 2012) - A group of concerned shareholders ("Concerned Shareholders") of Helix BioPharma Corp. ("Helix"), led by Mr. Zbigniew Lobacz, a significant shareholder, thank fellow shareholders for the overwhelming support they have demonstrated by voting their YELLOW proxy. Based on proxies received and deposited by the Concerned Shareholders proxy solicitation firm, Phoenix Advisory Partners, 65.5% of the outstanding common shares of Helix have voted FOR a board of five new directors comprising of William B. White, Robert Verhagen, Mario Gobbo, Marek Orlowski and Sebastian Szachowicz.

While the final results will only be confirmed at the Annual Meeting of Shareholders on January 30, 2012, the Concerned Shareholders have been in contact with the legal representatives of Helix and the Special Committee to lay the groundwork for what they hope will be a non-acrimonious Annual Meeting where the democratic rights of the shareholders will be respected.

The Concerned Shareholders nominees have received overwhelming support from knowledgeable and sophisticated investors who have lost patience with the continued poor performance delivered by the current management team. However, Helix continues to suggest that shareholders have been misled. The Concerned Shareholders totally disagree with such suggestions, and note that both management and the Concerned Shareholders have made their viewpoints known through the circulars and press releases. Clearly, it is time to let the shareholders decide. Unfortunately, in the face of the strong majority supporting the Concerned Shareholders nominees, it is clear that management and the current board is grasping at straws in an attempt to hang on to control of Helix. Helix and its management and current board appear insistent on using unproven allegations against certain of the Concerned Shareholders to further entrench their positions at Helix. The respondents in the court application have now delivered evidence that, in their view, fully supports their position that the allegations are unfounded and that the Concerned Shareholders were not in violation of any applicable laws or with the arrangements with Helix.

The Concerned Shareholders will not accept any attempt to disenfranchise shareholders and will move quickly, should the need arise, to protect shareholder democracy. The Concerned Shareholders are anxious to implement the results of the vote to allow the duly elected board to start the work of reversing the current negative path of Helix.

Certain statements contained in this release constitute forward-looking statements. The words "will", "intend", "plan", "believe", "expect", "view" and similar expressions as they relate to the Concerned Shareholders, the Concerned Shareholder Nominees, the support for the Concerned Shareholders, Helix or its current or future management, board or performance are intended to identify forward-looking statements. The forward-looking statements reflect the Concerned Shareholders' view and are based on understandings and reasonable assumptions, beliefs, opinions and expectations of the Concerned Shareholders at the time they are made. The Concerned Shareholders caution readers of this press release not to place undue reliance on forward-looking statements which are not a guarantee of performance and are subject to a number of uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such statements. These factors include, but are not limited to, shareholder action, court decisions, the timing of the shareholder meeting, actions by Helix, its management, members of the current board or its special committee or the Chair of the shareholder meeting, unexpected change of control consequences, the status of Helix's assets, financial condition and corporate books and records, general economic and market conditions, changes in the laws, regulatory processes, actions of competitors and the ability to implement business strategies and pursue business opportunities and financing alternatives after a state of uncertainty as well as other risks and uncertainties about Helix's business detailed in Helix's filings with applicable securities commissions copies of which are available at www.sedar.com.

Contact Information

  • Phoenix Advisory Partners
    Susy Monteiro
    647-351-3085