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Financings

XORTX Therapeutics proposes three director nominees

By The Northwire Desk — AI Analysis Mar 18, 2026 · 16:47 XRTX · 0.64 XORTX Therapeutics Inc
XRTX · Price

Executive Summary

  • XORTX Therapeutics Inc. has announced the substitution of three director nominees for its upcoming Annual and Special Meeting of Shareholders scheduled for March 24, 2026.
  • The change in director nominees is a mandatory condition of a significant financing initiative currently in negotiation with the TSX Venture Exchange.
  • The new nominees (George Scorsis, Richard Grieve, and Mika Grasso) will replace Krysta Davies-Foss, Raymond Pratt, and Paul Van Damme. If the financing does not close, the new nominees will resign, and vacancies will be filled subsequently.

Key Details

  • Meeting Details: Annual and Special Meeting of Shareholders to be held on March 24, 2026.
  • Proxy Deadline: March 20, 2026.
  • Outgoing Directors: Krysta Davies-Foss, Raymond Pratt, and Paul Van Damme.
  • Incoming Director Nominees:
    • George Scorsis: President of Red Bull Canada; former President of Mettrum Health Corp. (led $430M acquisition by Canopy Growth); former CEO of Liberty Health Sciences (acquired by Ayr for >$372M); Executive Chairman of WeedMD (raised $25M financing and $30M credit facility).
    • Richard Grieve: Chief Operating Officer at Bardel Entertainment Inc.; former VP Finance and Business Affairs; former Financial Accountant at EY.
    • Mika Grasso: Investment Manager at a family office; former Finance Associate at Zions Capital Markets; former Investment Banking Associate at Paulson Investment Company; former Analyst at Goldman Sachs.
  • Financing Context: The appointment is a condition of a "significant financing initiative" subject to TSX Venture Exchange approval.
  • Contingency: If the financing is not completed, the new nominees will resign from the board, and vacancies will be filled in due course.
  • Shareholder Holdings: None of the new nominees own any securities of the company or have received compensation from the company.
  • Board Recommendation: The Board unanimously recommends voting for all resolutions.

Notable Quotes

  • No direct quotes from the CEO/President were included in the provided text.
Read the original news release →

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