EDMONTON, Nov. 21, 2011 /CNW/ - Medwell Capital Corp. (TSX-V: MWC) today
announced that the Company completed its adoption of International
Financial Reporting Standards ("IFRS") accounting standards with the
filing of amended financial statements for the three months ended March
31, 2011 and the three and six months ended June 30, 2011. The adoption
of IFRS had no effect on the financial results previously reported by
The adoption of IFRS by the Company was announced by the Company on
October 3, 2011, and is a result of a decision from the Alberta
Securities Commission to not grant exemptive relief to allow Medwell to
continue reporting its financial statements using Canadian Generally
Accepted Accounting Principles.
About Medwell Capital Corp.
Medwell Capital Corp. is a Canadian-based merchant bank that provides of
capital and advisory services to the healthcare industry. 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.
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