EDMONTON, Sept. 6, 2012 /CNW/ - Medwell Capital Corp. ("Medwell" or the
"Company") (TSXV: MWC) today announced that shareholders approved all
five resolutions put forth at the Annual and Special Meeting of
Shareholders with greater than 95% supporting each resolution.
Shareholders supported setting the number of directors of the Company at
five and also elected the Company's nominees for director: Kevin A.
Giese, Laine M. Woollard, Dr. John Wetherell, Gordon Politeski and Will
Shareholders voted to re-appoint PricewaterhouseCoopers LLP as the
Company's auditor, and authorized the directors to fix the remuneration
of the auditor.
Shareholders also voted in favour of the share consolidation and the
private placement. Approval of the consolidation of one
post-consolidation common share for every 20 pre-consolidation common
shares was a condition for the private placement and was approved with
voting support of 97.82%.
The transaction is expected to close on or around September 28, 2012.
"Today Medwell begins its reorganization into a limited partnership,"
said Kevin Giese, President and CEO of Medwell. "This structure will
allow us greater flexibility regarding investment ideas and working
capital to execute on current mandates, as we begin to look for new
investment and advisory opportunities for the company."
About Medwell Capital Corp.
Medwell Capital Corp. is a Canadian-based investment and advisory firm.
For further information please visit www.medwellcapital.com.
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.
This press release may contain forward-looking statements, which reflect
the Company's current expectation regarding future events. These
forward-looking statements involve risks and uncertainties that may
cause actual results, events or developments to be materially different
from any future results, events or developments expressed or implied by
such forward-looking statements. Such factors include, but are not
limited to, changing market conditions, the successful and timely
completion of clinical studies, the establishment of corporate
alliances, the impact of competitive products and pricing, new product
development, uncertainties related to the regulatory approval process
and other risks detailed from time to time in the Corporation's ongoing
quarterly and annual reporting. We undertake no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
SOURCE: Medwell Capital Corp.
For further information:
Medwell Capital Corp.