TORONTO--(BUSINESS WIRE)--Medworxx Solutions Inc. (the “Company” or “Medworxx”, TSXV: “MWX”) is pleased to announce the successful completion of its annual general and special meeting held on June 26, 2013 (the “Meeting”).
The Company had 45.31% of its issued and outstanding common shares represented at the Meeting either in person or by proxy. At the Meeting, shareholders voted to ratify certain amendments to the Company’s by-laws to require advance notice for the nomination of directors, and also approved the re-appointment of PriceWaterhouseCoopers LLP as auditors of the Company for the ensuing year. In addition, shareholders appointed the following directors to the board of directors of the Company to hold office until the next annual shareholder’s meeting or until a successor is elected: Bernard Webber, Renah Persofsky, Barry Tissenbaum, Sam Marafioti, George Elliott, Paul Collins, Dan Matlow, and Joseph Lee Matheson.
Joseph Lee Matheson is a newly appointed member of the board of directors. Mr. Matheson is a co-founder of Broadview Capital Management Inc., an investment management firm that invests in inefficiently-priced North American securities. Broadview Capital Management, through the Broadview Dark Horse LP, is a shareholder of Medworxx. Prior to founding Broadview, Mr. Matheson was a securities analyst with KJ Harrison & Partners from 2006 to 2008 and a securities analyst with AIC Investment Services from 2003 to 2006. Mr. Matheson is also a member of the board of directors at RDM Corp. (RC:TSX). Mr. Matheson holds the Canadian Investment Manager (CIM) and Chartered Financial Analyst designations.
“Lee is a strong addition to the Medworxx board,” said Dan Matlow, President & CEO, Medworxx. “We believe his wealth of equity market contacts and experience is a positive step toward building shareholder value, as we continue to grow our business.”
The Company is also announcing that it has retained Capital Ideas Investor Relations (“CIIR”) to provide certain strategic investor relations and communications services to the Company. CIIR has been engaged for an initial term of six months, continuing on a month to month basis thereafter. The Company will pay compensation of $5,000 (plus HST) per month and grant to CIIR 100,000 options, each option entitling the holder to acquire one common share of the Company at an exercise price of $0.34 per share for a term of one year. One quarter of the options so granted will vest every three months following the date of grant.
Medworxx delivers health information technology 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 33%of the acute care beds in Canada. Visit: www.medworxx.com.
About Capital Ideas Investor Relations
Based in Toronto, Ontario, CIIR carries on the business of investor relations services including assisting public companies with the production and dissemination of information materials to the investment community and managing shareholder inquiries.
Disclaimers: The statements made in this press release may contain forward-looking statements that involve a number of risks and uncertainties. Actual events or results could differ materially from the Company’s expectations and projections. Forward-looking statements involve known and unknown risks, uncertainties and other factors, such as competition, technological changes, the changing needs of hospitals, the financial condition of the Company’s current and potential customers, foreign currency exchange rates, as well as general economic conditions, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The Company is under no obligation to update forward-looking statements.
Neither the 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 released.