TORONTO, May 24, 2017 (GLOBE NEWSWIRE) -- Profound Medical Corp. (“Profound” or the “Company”) (TSXV:PRN) (OTCQX:PRFMF) is pleased to announce the results of the votes on the matters considered at its Annual Meeting of Shareholders that was held yesterday. A total of 30,091,325 common shares, representing 54.37% of the shares outstanding, were represented in person and by proxy at the meeting.

1. Election of Directors

At the Meeting, the shareholders of the Company elected all six nominees for the board of directors. Detailed results of the voting in respect of the election of directors are as follows:

 Number of
Percentage of Votes
Arun MenawatVotes For:    26,169,319    99.96%
 Votes Withheld:    10,0000.04%
Damian LambVotes For:26,169,31999.96%
 Votes Withheld:10,0000.04%
Jean-François Pariseau        Votes For:26,169,31999.96%
 Votes Withheld:10,0000.04%
William CurranVotes For:26,179,319100.00%
 Votes Withheld:00.00%
Kenneth GalbraithVotes For:26,179,319100.00%
 Votes Withheld:00.00%
Samira SakhiaVotes For:26,179,319100.00%
 Votes Withheld:00.00%

2. Appointment of Auditors

At the Meeting, the shareholders of the Company appointed PricewaterhouseCoopers LLP to serve as the independent auditors for 2017. Detailed results of voting are as follows:

Auditors Number of
Percentage of Votes
PricewaterhouseCoopers LLP      Votes For:    30,072,933    99.94%
 Votes Withheld:  17,3920.06%

About Profound Medical Corp.

The Profound Medical team is committed to the effort to achieve a new therapeutic standard in prostate cancer. For the millions of men currently living with prostate cancer, and the thousands more who are diagnosed with it every year, current treatment options often mean having to make difficult choices based on potential side effects that can significantly impact quality of life. Our mission is to profoundly change the standard of care by creating a tomorrow where clinicians can confidently ablate cancerous prostate tissue with precision, while actively protecting critical anatomy from potential side effects; a tomorrow where patients have access to a safe, fast and effective treatment option, so they can quickly return to their daily lives.

Established in 2008, Profound Medical is commercializing a novel technology, TULSA-PRO® system, which combines real-time Magnetic Resonance Imaging with transurethral, robotically-driven therapeutic ultrasound and closed-loop thermal feedback control that is designed to provide precise ablation of the prostate while simultaneously protecting critical surrounding anatomy from potential side effects. TULSA-PRO® system is CE Mark and Profound is sponsoring a multicenter, prospective FDA-registered clinical trial, TACT.

Forward-Looking Statements

This release includes forward-looking statements regarding Profound and its business which may include, but is not limited to, the expectations regarding the efficacy of Profound’s technology in the treatment of prostate cancer. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of Profound. The forward-looking events and circumstances discussed in this release, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, including risks regarding the pharmaceutical industry, economic factors, the equity markets generally and risks associated with growth and competition. Although Profound has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed.

Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Profound undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, other than as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange), nor the OTCQX accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact:

Stephen Kilmer
Investor Relations 
T: 647.872.4849

Rashed Dewan
Vice President, Finance 
T: 647.476.1350