XORTX Therapeutics Reports Special Meeting Results

CALGARY, Alberta, Sept. 02, 2021 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. (“XORTX” or the “Company”) (CSE: XRX) (OTCQB: XRTXF), a pharmaceutical therapeutics company focused on developing innovative therapies to treat progressive kidney disease, is pleased to announce the results of the Company’s Special Meeting of Shareholders held earlier today (the “Meeting”). A total of 72,768,832 common shares of the Company were voted at the Meeting, representing approximately 66% of the total number of issued and outstanding shares. At the Meeting, all resolutions were approved close to unanimously, with 99.7% of the shares voted in favour of the consolidation resolution and 98.8% of the shares voted in favour of the two resolutions to amend the articles of the Company to provide for the addition of an advance notice provision and a choice of law/forum provision.

Dr. Allen Davidoff, XORTX’s CEO stated, “The outcome of this Special Meeting is an important milestone for the Company and could not have been achieved without the strong support we have received from shareholders today. The positive results emerging from the Meeting, now permit XORTX management and the board of directors to advance the Company forward with a solid mandate. We look forward to advancing our clinical study plans and bringing clinically meaningful therapeutic options to individuals with kidney disease.”

About XORTX Therapeutics Inc.

XORTX Therapeutics Inc. is a pharmaceutical company with two clinically advanced products in development – XRx-008 for Autosomal Dominant Polycystic Kidney Disease (ADPKD), XRx-101 for Coronavirus / COVID-19 infection and XRx-225 is a pre-clinical stage program for Type 2 Diabetic Nephropathy (T2DN). XORTX is working to advance its clinical development stage products that target aberrant purine metabolism and xanthine oxidase to decrease or inhibit production of uric acid. At XORTX Therapeutics, we are dedicated to developing medications to improve the quality of life and future of patients. Additional information on XORTX Therapeutics is available at www.xortx.com.

For further information, please contact:

The CSE has neither approved nor disapproved the contents of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

This news release includes forward looking statements that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward looking statements. Although the Company believes that any such intentions, plans, estimates, beliefs and expectations in this news release are reasonable, there can be no assurance that any such intentions, plans, beliefs and expectations will prove to be accurate. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company’s future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements. Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements. The Company assumes no obligations to update any forward looking statements, whether as a result of new information, future events or otherwise.

Released September 2, 2021