Diffusion's Shareholder LifeSci Supports Company's Strategic Review Process And Director Nominees

(RTTNews) - Diffusion Pharmaceuticals Inc. (DFFN) said Friday that it has entered into a settlement agreement with LifeSci Special Opportunities Master Fund Ltd., which will support the company's ongoing, board-led strategic review process and the company's nominees at 2022 annual meeting.

As per the terms of the settlement agreement, LifeSci Special Opportunities, which currently beneficially owns approximately 4.8% of Diffusion's outstanding shares, will withdraw its slate of director nominees previously nominated for election and vote in favor of the Board's recommended nominees at the Annual Meeting.

Diffusion has agreed that, in the event it has not completed a transaction resulting from its ongoing strategic review process by July 1, 2023, the company will promptly appoint an individual designated by LifeSci Special Opportunities to the Board.