CALGARY, Jan. 29 /CNW/ - CriticalControl Solutions Corp., (TSX-V:CCZ)
today announced that it has received conditional approval for the graduation
of the Company's common shares to the Toronto Stock Exchange ("TSX") from the
TSX Venture Exchange. The conditional approval was received based on an
application submitted to the TSX. The listing of CriticalControl's common
shares on the TSX is subject to final documentation being submitted by the
In an effort to optimize the share structure of the Company in parallel
with the listing on the Toronto Stock Exchange, the Company intends to seek
final regulatory approval to consolidate the shares of the Company on a three
(3) pre-consolidation common shares for one (1) post-consolidation common
share basis as approved by the Company's shareholders on November 26, 2008.
The Company currently has 124,116,914 common shares outstanding and will have
approximately 41,372,305 after consolidation.
The Company anticipates that the listing of its common shares on the TSX
and the consolidation of the Company's shares will take place prior to the end
of February 2009. Once the Shares commence trading on the TSX, the Company's
common shares will be delisted from TSX Venture Exchange. The Company's
trading symbol will remain unchanged.
"As a company, CriticalControl has made substantial progress against its
strategic and financial objectives over the last few quarters and graduation
to the TSX demonstrates just how far we have come," said Alykhan Mamdani,
President and CEO of Critical Control. "This next step in our evolution should
allow us to access a broader cross section of the investment community as we
continue to grow and develop as an organization."
CriticalControl enables its clients to increase operational performance
through the better control of critical business information. Through the
balance of practicality, innovation and technology, we empower our clients
with everything from strategies and tools, to outsourced solutions to manage
information, wherever and in whatever form that information exists. For more
information please visit www.criticalcontrol.com.
This media release may contain certain forward-looking statements that
reflect the current views and/or expectations of CriticalControl Solutions
Corp. with respect to their respective performance, business, and future
events. Such statements are subject to a number of risks, uncertainties, and
assumptions as outlined in the Company's filings with the Canadian securities
regulatory authorities. Actual results and events may vary.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: Alykhan Mamdani, President & CEO, Tel (403)
705-7500; or David Feick, The Equicom Group, Tel (403) 538-4787,