GATINEAU, QC, June 25 /CNW Telbec/ - ImaSight Corp., a commercial-stage
medical device company marketing an innovative, cost effective digital
radiology solution, announced today that on June 24, 2008 it closed the
previously announced business combination transaction between ImaSight Inc.
and Liponex Inc. (TSX:LPX).
In connection with the transaction, Liponex changed its name to ImaSight
Corp., and the common shares were consolidated on a five-for one basis.
Pursuant to the transaction, the former holders of shares, options and
warrants in the capital of ImaSight Inc. exchanged their holdings for shares,
options and warrants in the capital of ImaSight Corp. on the terms previously
"We are pleased to acquire the assets of Liponex," said John Brooks, CEO
of ImaSight. "I believe there is value in the patent portfolio of Liponex and
we plan to realize on that value for the benefit of the shareholders."
Liponex had previously received conditional approval for the listing of
the common shares of ImaSight Corp. on the TSX Venture Exchange as a Tier 2
issuer under the symbol "IAS". ImaSight Corp. is completing its submission to
the TSX Venture Exchange to meet the final listing requirements. It is
currently anticipated that the shares of Liponex will cease to trade on the
Toronto Stock Exchange on June 27, 2008 and the shares of ImaSight Corp. will
commence trading on the TSX Venture Exchange on June 30, 2008.
ImaSight markets its patented digital x-ray sensor at a price affordable
to veterinarians and chiropractors. Its hospital grade sensor has been
approved for sale by Health Canada. Further information can be found at
Liponex was a Biopharmaceutical development company developing natural
source products for the treatment of cholesterol and metabolic disease. CRD5,
its lead product, has undergone a number of human clinical trials under
approval of Health Canada's Natural Health Products Directorate with a primary
goal of increasing HDL "good cholesterol".
This news release contains certain "forward-looking statements" and
"forward-looking information" which may include but is not limited to
statements in respect of ImaSight's future financial position or operations.
Words like "believe", "intend", "may", "expect", "anticipate", "plan",
"should" and other similar expressions are forward-looking statements that
involve a number of risks and uncertainties. By their nature, forward-looking
statements involve numerous factors, assumptions and estimates. Some but not
all of the factors that could cause actual results to differ materially from
those projected in our forward-looking statements include failure to receive
necessary stock exchange listing approvals. For a further description of the
principal risks affecting ImaSight, see Liponex's regulatory filings at
www.sedar.com. These factors should be considered carefully and readers are
cautioned not to place undue reliance on such forward looking statements.
Although ImaSight has attempted to identify important risks, uncertainties and
other factors that could cause actual results or events to differ materially
from those expressed or implied in the forward looking statements, there may
be other factors that cause actual results or events to differ from those
expressed or implied in the forward-looking statements. All forward-looking
statements are qualified in their entirety by this cautionary statement and
ImaSight undertakes no obligation to revise or update any forward-looking
statements as a result of new information, future events or otherwise after
the date hereof.
The TSX does not accept responsibility for the adequacy or accuracy of
For further information:
For further information: ImaSight Corp.: John Brooks, CEO, (819)
777-7979 ext. 223, email@example.com