TORONTO, June 6 /CNW/ - Emancipation Capital Master Ltd. ("Emancipation")
announced today that in connection with a purchase made on April 13, 2007, it
purchased, for its own account and on behalf of client accounts over which it
has discretionary trading authority, 11,379,000 subscription receipts of
Nightingale Informatix Corporation ("Nightingale"). Each subscription receipt
was subsequently exchanged for no additional consideration for common shares
of Nightingale. In addition, on May 24, 2007, Emancipation, for its own
account and on behalf of client accounts over which it has discretionary
trading authority, purchased an additional 550,000 common shares of
Nightingale. Emancipation's total holdings in Nightingale as of June 5, 2007,
were 11,929,000 common shares representing approximately 17% of the issued and
outstanding shares of Nightingale on a non-diluted basis. Charles Frumberg is
a controlling party in Emancipation and is also a director of Nightingale.
Emancipation has purchased these securities for investment purposes, and
may increase or decrease its beneficial ownership of securities of Nightingale
depending upon future market conditions.
Emancipation Capital is an information technology focused value/activist
hedge fund, headquartered in New York.
The TSX Venture Exchange Inc. has not reviewed and does not
accept responsibility for the adequacy or accuracy of this
For further information:
For further information: Charles Frumberg, at (212) 626-2640, or 1120
Ave. of the Americas, Suite No.1504, New York, NY, 10036