Condemns Nymox’s Dissemination of False and Misleading Information Regarding CRNSV, its Nominees and the Special Meeting and Believes Such Actions Underscore the Dire Need for New Leadership and a New Board at Nymox
Believe Shareholders Will See Through CEO Averback’s & the Board’s Desperate and Unprofessional Attempts to Confuse Shareholders and Avoid Accountability at All Costs
Appreciates the Significant Support CRNSV Has Received from Nymox Shareholders and Urges All Shareholders to Stay Focused on the Real Issues by Voting to Restore Nymox on the WHITE proxy card TODAY
01/11/2023 — CARSON CITY, Nev. & LONDON — (BUSINESS WIRE)
The Committee to Restore Nymox Shareholder Value, Inc. (“CRNSV”), with a goal to recover shareholder value in Nymox Pharmaceutical Corporation (NYMX-F) (the “Company” or “Nymox”), today issued the following statement to Nymox shareholders reminding them of the critical opportunity to make their voices heard and demand accountability at the upcoming special meeting of shareholders scheduled to be held on November 8, 2023 (the “Special Meeting”), which is being called in accordance with the Order of the Supreme Court, Commercial Division, of the Commonwealth of the Bahamas (the “Bahamian Supreme Court”), filed October 5, 2023 (the “Order”). In the statement to shareholders, CRNSV also responds to certain false and misleading statements being disseminated by Nymox, namely under the direction of CEO Paul Averback (“Averback”) and the other incumbent directors CRNSV is seeking to remove from the Board of Directors (the “Board”) at the upcoming Special Meeting. In addition, CRNSV announced that it has delivered a letter to stockholders of the Company, dated October 30, 2023, which can be viewed at the following link: https://crnsv.com/documents/Second%20Nymox%20Fight%20Letter-8.pdf
CRNSV statement to Nymox shareholders:
“We appreciate the tremendous support we continue to receive from Nymox shareholders. This is a defining moment for our Company. As shareholders, collectively, we have been given a critical opportunity to restore Nymox at the upcoming Special Meeting. To that end, we would also like to emphasize that the shares “frozen” pursuant to the Bahamian Supreme Court Order (which Averback and director Robison cannot vote) is akin to a 23% share buyback which benefits all shareholders without the capital cost to the Company. It is in shareholders’ interest to support this change. With the Special Meeting under two weeks away, we encourage shareholders to make their voices heard and act now to install new leadership and a new Board. With your support, we can lay the foundation for Nymox to achieve its full earnings potential and help put the Company back on the right track for substantial shareholder value creation.
We have assembled a team of incredibly qualified director candidates with substantial experience and relevant skill sets, who are ready to serve shareholders’ best interests at all times. Importantly, if CRNSV is successful at the Special Meeting, our nominees intend to swiftly fill the leadership void that the current Board has created and explore all opportunities to enhance and drive significant long-term shareholder value creation at Nymox. As a critical initial step, we plan to retain and have already taken steps to identify – professional and experienced advisors – with demonstrated expertise in our industry – to assist with analyzing value creation opportunities, developing strategic and operational plans, improving the Company’s governance practices and ensuring Nymox operates in compliance with the law. A critical feature of our turnaround plans for Nymox is to reassess and renegotiate the previously proposed partnership with AscellaHealth, LLC (“AscellaHealth”), which CEO Averback rejected for self-serving reasons. We plan to share further details regarding the benefits of the AscellaHealth partnership as well as other aspects of our turnaround plans for Nymox.
Contrary to what Nymox and others are falsely publicizing, the members of CRNSV and our other nominees have always and will always conduct ourselves with integrity and hold ourselves to the highest standards. Unfortunately, since CEO Averback does not appear to believe he can gain sufficient shareholders’ support based on the merits and instead, is focused on avoiding accountability at all costs, he has resorted to a series of desperate tactics aimed at trying to confuse shareholders and divert their attention away from the real business issues facing Nymox to which he has no answers.
We have presented the facts, outlined our plans to reinvigorate Nymox, and proposed a supremely qualified slate of director nominees with credentials specifically relevant to Nymox’s business and current challenges. We have been, and will continue to be, constructive and professional in our approach to this Special Meeting and to the Company. Since it appears the Company’s strategy, on the other hand, has been to misrepresent the truth, we have decided to definitively correct some of their misinformation for the benefit of all shareholders.
- First and foremost, CRNSV members and nominees Messrs. Riley, Lanham and Cutler have always conducted themselves professionally and with integrity in their respective careers and with respect to Nymox specifically, have always acted in accordance with their fiduciary duties and with the best interests of Nymox and its shareholders in mind. Messrs. Riley, Lanham and Cutler were improperly terminated from their positions at Nymox, including with respect to Messrs. Lanham and Cutler, as Board members. We are seeking the reappointment of Messrs. Lanham and Cutler to the Board (without conceding that they were properly removed) in order to protect our rights as shareholders and ensure the Board is reconstituted with directors dedicated to ensuring shareholders’ interests remain paramount in the boardroom at all times.
- We validly called the Special Meeting in accordance with the Bahamian Supreme Court Order. The Order made clear that if Nymox failed to call a shareholder meeting within the deadline provided by the court, CRNSV was permitted to call the Special Meeting. Accordingly, the Special Meeting will be held on November 8th.
- Unlike the Company’s concerning disregard for compliance with the law, we understand the quorum requirements for holding a shareholder meeting. We expect there to be a quorum at the Special Meeting for the purpose of voting on the proposals being presented at the Special Meeting given the substantial amount of support we have received from Nymox shareholders thus far.
- The AscellaHealth partnership previously presented to Nymox was negotiated at arms-length and would have provided significant benefits and synergies for Nymox, which is why we would seek to propose this partnership with AscellaHealth if successful at the Special Meeting. AscellaHealth is a Global Specialty Pharmacy and Healthcare Services Organization, providing innovative solutions to patients, life sciences manufacturers, payers and providers.
This is clearly not even remotely an exhaustive list, but we felt compelled to set the record straight on some of the most blatant inaccuracies as we approach the Special Meeting. We believe Nymox shareholders are intelligent and will realize that the Company has attempted to mislead shareholders for years.
Given the Company’s finite resources, we hope leadership focuses on efficiently evaluating investor sentiment – not spending shareholders’ precious capital on a defensive and reactionary smear campaign. We hope you will pay no heed to the Company’s and others’ repeated unprofessional tactics and review the facts in making your voting decisions regarding the future leadership of Nymox.
Please trust that CRNSV is committed to continuing to advocate for all shareholders’ best interests and pursuing a value-enhancing transformation of Nymox. Our nominees have proven track records and extensive and highly relevant expertise and experience and importantly, are ready, willing and able to serve your best interests, in accordance with their fiduciary duties at all times.”
PLEASE DO NOT BE FOOLED BY NYMOX’S FALSE, MISLEADING, AND DISINGENUOUS CLAIMS! NYMOX NEEDS NEW LEADERSHIP AND NEW BOARD MEMBERS WHO WILL DEMAND ACCOUNTABILITY.
VOTE FOR CHANGE ON THE WHITE PROXY CARD TODAY
Important information and materials regarding the Special Meeting can be found at www.crnsv.com.
Do not miss this critical opportunity to have your voices heard! We encourage you to vote in favor of the proposals to reconstitute Nymox leadership and the Board on the WHITE proxy card today and return it in your postage-paid envelope provided. Should you have any questions or need assistance with voting, please contact Saratoga Proxy Consulting, LLC at (888) 368-0379 or by email at firstname.lastname@example.org.
About The Committee to Restore Nymox Shareholder Value, Inc. (CRNSV)
CRNSV was formed by former executives of the NYMOX PHARMACEUTICAL CORP (“NYMX-F”) with a goal to restore shareholder value in NYMOX (the Company). With a commitment to overcome the steep decline and volatility of the stock price following the catastrophic NASDAQ Delisting Decision, CRNSV has issued rebuttal letters to all Company shareholders and continues to emphasize lack of Company leadership, inability to realize the potential for valuable and promising results through a relationship with a highly respected global healthcare and specialty pharmacy solutions company with expertise to help commercialize the Company’s Benign Prostatic Hyperplasia (BPH) product, and Nymox’s lack of solution or plan for financial recovery of shareholder value. Headquartered in Carson City, Nevada with offices in London, CRNSV documents are available at https://www.crnsv.com/.