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Of the total common shares issued and outstanding, 77% were voted eitherin person or by proxy at the annual and special meeting of DRAXISshareholders, held earlier today.
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The closing of the transaction is subject to customary closing conditions,including receipt of a Final Order from the Quebec Superior Court approvingthe plan of arrangement. The hearing in respect of the Final Order is expectedto take place on Tuesday, May 27, 2008 at 9:00 a.m. (Montreal time). Thetransaction is expected to close shortly thereafter.
About DRAXIS Health Inc.
DRAXIS Health, through its wholly owned operating subsidiary, DRAXISSpecialty Pharmaceuticals Inc., provides products in three categories: sterileproducts, non-sterile products and radiopharmaceuticals. Sterile productsinclude liquid and freeze-dried (lyophilized) injectables plus sterileointments and creams. Non-sterile products are produced as solid oral andsemi-solid dosage forms. Radiopharmaceuticals are used for both therapeuticand diagnostic molecular imaging applications. Pharmaceutical contractmanufacturing services are provided through the DRAXIS Pharma division andradiopharmaceuticals are developed, produced, and sold through the DRAXIMAGEdivision. DRAXIS employs approximately 500 staff in its Montreal facility.
This news release contains forward-looking statements within the meaningof Section 27A of the Securities Act of 1933, as amended (the "SecuritiesAct") and Section 21E of the Securities Exchange Act of 1934, as amended (the"Exchange Act") and as contemplated under other applicable securitieslegislation. These statements can be identified by the use of forward-lookingterminology such as "may," "will," "expect," "anticipate," "estimate,""continue," "plan," "intend," "believe" or other similar words. Thesestatements discuss future expectations concerning results of operations orfinancial condition or provide other forward-looking information. Our actualresults, performance or achievements could be significantly different from theresults expressed in, or implied by, those forward-looking statements. Youshould not place undue reliance on any forward-looking statement, which speaksonly as of the date made.
These statements are not guarantees of future performance. By theirnature, forward-looking statements involve numerous assumptions, known andunknown risks, uncertainties and other factors that may cause the actualresults or performance of the Company to be materially different from suchstatements or from any future results or performance implied thereby. Factorsthat could cause the Company's results or performance to differ materiallyfrom a conclusion, forecast or projection in the forward-looking statementsinclude, but are not limited to:
For additional information with respect to certain of these and otherfactors, and relating to DRAXIS generally, reference is made to DRAXIS' mostrecent filings with the United States Securities and Exchange Commission(available on EDGAR at www.sec.gov) and the filings made by DRAXIS withCanadian securities regulators (available on SEDAR at www.sedar.com). Theforward-looking statements contained in this new release represent DRAXIS'expectations as at May 22, 2008. Unless otherwi
