TORONTO, Aug. 16 /CNW/ - Medworxx Solutions Inc. (the "Company") (TSXV: MWX) is pleased to announce that, effective August 17, 2010, the Company has consolidated its shares on a 4 for 1 basis. The share consolidation was authorized by shareholders at the annual and special meeting of the Company which was held on June 29, 2010 as well as by the TSX Venture Exchange.
Shareholders of the Company will be requested to deliver their share certificates representing the pre-consolidation common shares to the Company's transfer agent against delivery of new certificates representing the post-consolidation shares. A letter of transmittal for the exchange of the shares will be sent to the shareholders concurrent with the issuance of this news release or shortly thereafter. No action is required by non-registered shareholders, who hold securities of the Company through an intermediary, to effect consolidation of their beneficially held securities.
As a result of the share consolidation, the Company's issued and outstanding common shares decreased from 69,735,536 common shares (pre-consolidation) to 17,433,884 common shares (post-consolidation). The common shares continue to trade under the stock symbol "MWX".
Further details with respect to the consolidation are disclosed in the Company's Management Information Circular dated May 25, 2010, as electronically filed with regulators and available for viewing through the Internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
About Medworxx Solutions Inc. ("Medworxx"):
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Medworxx, the makers of strategic software platforms that hospitals use to communicate, aggregate, and analyze knowledge, has been capturing the power of hospital knowledge since 2004. Medworxx' products are used by more than 500,000 users at over 280 hospitals across North America. Headquartered in Toronto, Ontario, Medworxx trades on the TSX Venture Exchange under the symbol MWX.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
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This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Medworxx to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, such as costs of sales, general economic conditions, the success of marketing and competition from competing suppliers and businesses. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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For further information: visit www.medworxx.com, or contact: Medworxx Solutions Inc., Dan Matlow, Chief Executive Officer, (416) 642-1278, x. 311, [email protected]
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