Medicenna Announces Appointment of New Auditor

TORONTO and HOUSTON, Jan. 12, 2024 (GLOBE NEWSWIRE) -- Medicenna Therapeutics Corp. (“Medicenna” or the “Company”) (TSX: MDNA, OTC: MDNAF), a clinical-stage immunotherapy company focused on the development of Superkines, today announced the appointment of MNP LLP (“MNP” or “Successor Auditor”) as auditor. The board of directors of the Company accepted the resignation of PricewaterhouseCooper LLP (the “Former Auditor”) and appointed MNP as the new auditor until the next annual general meeting of shareholders of the Company.

The Company confirms that there have been no reservations or modified opinions in the Former Auditor’s report for the two most recently completed financial years or for any period subsequent to the most recently completed period for which an audit report was issued. The Company’s board of directors and audit committee each approved the resignation of the Former Auditor and the appointment of MNP. There were no “reportable events”, as the term is defined in National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”), in connection with each of the Former Auditor’s audits of the Company which occurred prior to its resignation as auditor of the Company; and the required notices of change of auditor (the “Notices”) were approved by the Company’s board of directors.

In accordance with NI 51-102, the Notices, together with the required letters from the Former Auditor and MNP, have been reviewed by the audit committee and the board of directors and have been filed on SEDAR+.

In addition, Medicenna has engaged Tandem Accounting Group Ltd. (“Tandem”) to manage the Company’s financial reporting and internal bookkeeping requirements on a contract basis. The Tandem team is co-led by Sean Hodgins, CPA, CPA (Illinois) and David Hyman, CPA, CBV. Mr. Hodgins was the founding CFO of Medicenna and is the current contract CFO of several public Canadian companies. Mr. Hodgins is the founder of Tandem and brings a wealth of public company reporting experience to the Company. Mr. Hyman is a seasoned financial professional with over 25 years of broad financial experience which includes public practice, capital markets, private equity, and CFO positions in both public and private companies in Canada.