GlobeNewswire Inc | Dec 21, 2021 06:00PM EST

December 21, 2021

CALGARY, Alberta, Dec. 21, 2021 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. ("XORTX" or the Company) (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU), a pharmaceutical therapeutics company focused on developing innovative therapies to treat progressive kidney disease, is pleased to announce the results of the Companys 2021 Annual and Special Meeting of Shareholders held yesterday. A total of 4,990,819 common shares of the Company were voted at the Meeting, representing approximately 38% of the total number of issued and outstanding shares. At the meeting, all resolutions passed close to unanimously. All six director nominees, Dr. Allen Davidoff, William Farley, Ian Klassen, Jacqueline Le Saux, Raymond Pratt and Paul Van Damme, were elected as directors of the Company. In addition, at the Meeting, shareholders voted to re-appoint Smythe LLP as auditors of the Company and disinterested (non-insider) shareholders also approved the Companys 10% rolling stock option plan.

In connection with the appointment of Raymond Pratt, the Company has granted in accordance with the Companys stock option plan 30,000 options to purchase common shares of the Company exercisable at $2.54 CAD for a period of five years. The Company has also granted an aggregate of 56,495 options to independent directors on the same terms.

About XORTX Therapeutics Inc.

XORTX Therapeutics Inc. is a pharmaceutical company with two clinically advanced products in development XRx-008 for Autosomal Dominant Polycystic Kidney Disease (ADPKD), XRx-101 for acute kidney and other acute organ injury associated with Coronavirus / COVID-19 infection and XRx-225 is a pre-clinical stage program for Type 2 Diabetic Nephropathy (T2DN). XORTX is working to advance its clinical development stage products that target aberrant purine metabolism and xanthine oxidase to decrease or inhibit production of uric acid. At XORTX Therapeutics, we are dedicated to developing medications to improve the quality of life and future health of patients. Additional information on XORTX Therapeutics is available at www.xortx.com.

For further information, please contact:

Allen Davidoff, CEO Nick Rigopulos, Director of Communicationsadavidoff@xortx.com or +1 403 455 nick@alpineequityadv.comor +1 617 9017727 0785

The TSX Venture Exchange and Nasdaq have neither approved nor disapproved the contents of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.