VANCOUVER, July 15 /CNW/ - DJohnson Holdings Inc. (the "Company")
announces that it has acquired voting control and direction over an additional
2,518,000 common shares of MIGENIX Inc. ("MIGENIX"). The Company now has
beneficial ownership of and/or voting control and direction over an aggregate
of 16,560,400 common shares (the "Shares"), representing approximately 18% of
the total issued and outstanding common shares of MIGENIX.
The Company has requisitioned a special meeting (the "Meeting") of
shareholders of MIGENIX to be held as soon as possible but by no later than
October 18, 2008, to remove a majority of incumbent directors of MIGENIX and
replace them with qualified and experienced directors who will run MIGENIX for
the benefit of shareholders and not to enrich and entrench management. In the
Company's view, the support received today from additional shareholders of
MIGENIX sends a clear message to the board and management that NOW is the time
for change and the Company's proposals are in the best interests of and will
be supported by a majority of MIGENIX's shareholders.
The Company intends to evaluate its investment in MIGENIX and may make
additional investments in or dispositions of shares of MIGENIX in the future,
depending on price, availability and general market conditions.
In connection with this news release, the Company will file an early
warning report on SEDAR. Copies of the early warning report may be obtained
from SEDAR (www.sedar.com) or without charge by contacting the President of
For further information:
For further information: please visit
www.migenix-concerned-shareholders.com or contact: Douglas Johnson, President,