Sixth graph of the release should read: The Advance Notice Procedures is effective immediately and will be placed before shareholders for ratification at the upcoming annual meeting of shareholders of the Company (the “Meeting”) to be held on June 26, 2013. (sted June 5, 2013).
The corrected release reads:
MEDWORXX SOLUTIONS INC. ANNOUNCES
ADVANCED NOTICE BY-LAW
Medworxx Solutions Inc. (the “Company” or “Medworxx”) (TSXV: MWX), today announced that its board of directors (the “Board”) has approved amendments to the Company’s by-laws to introduce an advance notice requirement in connection with shareholders intending to nominate directors in certain circumstances (the “Advance Notice Procedures”).
The Advance Notice Procedures set forth a procedure requiring advance notice to the Company by any shareholder who intends to nominate any person for election as director of the Company other than pursuant to (i) a requisition of a meeting made pursuant to the provisions of the Canada Business Corporations Act (the “CBCA”), or (ii) a shareholder proposal made pursuant to the provisions of the CBCA. Among other things, the Advance Notice Procedures set a deadline by which such shareholders must notify the Company in writing of any intention to nominate directors prior to any meeting of shareholders at which directors are to be elected and set forth the information that the shareholder must include in their notice for it to be considered valid.
The Advance Notice Procedures provide a clear and transparent process for all shareholders to follow if they intend to nominate directors. In that regard, the Advance Notice Procedures provide a reasonable time frame for shareholders to notify the Company of their intention to nominate directors and require shareholders to disclose information concerning the proposed nominees that is mandated by applicable securities laws.
In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 and not more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.
In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Company must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.
The Advance Notice Procedures is effective immediately and will be placed before shareholders for ratification at the upcoming annual meeting of shareholders of the Company (the “Meeting”) to be held on June 26, 2013.
The Advance Notice Procedures are in effect until confirmed, confirmed as amended or rejected by shareholders at the Meeting and, if confirmed at the Meeting, the Advance Notice Procedures will continue in effect in the form in which they were so confirmed.
Medworxx delivers health information solutions to over 350 hospitals internationally; including Canada, United States and United Kingdom. Medworxx helps hospitals meet patient flow challenges, and requirements in compliance and education. Medworxx Clinical Criteria – flagship of Medworxx Patient Flow that includes electronic bed board and independent assessment components – currently serves over 33% of the acute care beds in Canada. Founded in 2004, Medworxx is based in Toronto, ON, and publicly traded on the TSX Venture Exchange: MWX.
The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the company’s expectations and projections.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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