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Bradmer shareholders vote for cryptocurrency takeover

Bradmer Pharmaceuticals Inc. shareholders voted to approve its merger with advisory firm First Coin Capital and digital asset bank Galaxy Digital.

The proposed deal would be a reverse takeover of Bradmer by the other two companies, leading to a reactivated listing for the Toronto-based pharmaceutical company on the TSX Venture Exchange.

More than 99% of shareholders voted in favor of the arrangement during Bradmer's annual general and special meeting June 11.

"These votes represent a significant step forward in completing our reverse takeover transaction. We look forward to building a world-class crypto merchant bank alongside our equity partners," Michael Novogratz, CEO and founder of Galaxy Digital, said in a statement.