Annidis Corporation Completes Vertical Short-Form Amalgamation with Wholly-Owned Subsidiary
OTTAWA, Jan. 2, 2014 /CNW/ - Annidis Corporation (TSX Venture: RHA) ("Annidis" or the "Corporation"), creator of the Annidis RHA™, is pleased to announce that effective January 1, 2014 it has completed a vertical short-form amalgamation pursuant to the Business Corporations Act (Ontario) with its wholly owned operating subsidiary Annidis Health Systems Corp. ("AHSC"). Pursuant to the amalgamation, all of the issued and outstanding shares of AHSC will be cancelled and the assets, obligations and liabilities of AHSC will be assumed by Annidis. No securities of Annidis will be issued in connection with the amalgamation and the share capital of the Annidis will remain unchanged. The amalgamation of Annidis and AHSC has been undertaken in order to simplify the corporate structure of Annidis and to reduce administrative costs. The amalgamation will not have any significant effect on the business and operations of Annidis.
About Annidis Corporation
Annidis (TSX-V: RHA) has developed and is marketing a new imaging platform technology based on Multi-Spectral Imaging (MSI). This new technology is opening a new frontier in disease identification and its management. The Annidis MSI technology allows eye-care professionals to view non-invasively the deepest areas of the eye aiding eye care professionals in the early identification and treatment of debilitating eye diseases. The Company's existing RHA 2020-U Gold, used by eye care professionals as a broad based tool for detecting early-onset of eye related diseases such as Dry AMD, has a potential market of over 20,000 clinics in North America. The RHA Platinum MD will further strengthen the value proposition allowing doctors to visualize choroidal and retinal vasculature non-invasively. The RHA Platinum MD has global market potential of more than 100,000 Ophthalmologists.
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.
SOURCE Annidis CorporationFor further information:
Chief Executive Officer
(519) 858-1582 ext. 239
Virtus Advisory Group Inc.