Medipharm Labs provides information on three Apollo Capital nominees

MediPharm Labs (MEDIF) provided its shareholders with information related to three of the six directors nominated by Apollo Technology Capital Corporation to stand for election at MediPharm’s Annual and Special Meeting of Shareholders on June 16, 2025. The company said, “The Company believes events that have transpired over the past two years at Check-Cap (CHEK), a Nasdaq-listed company, provide valuable insight into the dubious tactics, motives and character of the individuals now seeking to take control of the board of directors of MediPharm. The extraordinary sequence of events at Check-Cap has been notable for its evidence of poor governance practices, lack of transparency and disclosure to shareholders, questionable allocation of cash resources, high turnover, public shareholder disputes, failure to execute on promises and destruction of shareholder value. Most alarmingly, Check-Cap has been transferring millions of dollars of cash to Apollo and its subsidiaries – companies led by Dissident Nominee and shareholder, Regan McGee. The cash transfers were characterized as being tied to a merger agreement with an Apollo subsidiary that was announced 14 months ago but has yet to be completed.” Chris Taves, Chair of MediPharm, commented: “The troubling fact pattern involving three of the Dissident Nominees raises several red flags. The MediPharm Board urges its shareholders to exercise a high level of caution before considering voting for any of McGee’s nominees to run your Company.”