TORONTO, Oct. 5, 2016 /CNW/ - Mr. Tat Lee (Michael) Koh, the single largest shareholder and a director of Ellipsiz Communications Ltd. (the "Company") (TSXV: ECT), confirms today that, notwithstanding yesterday's press release of the Company, he is proceeding with the special meeting of shareholders (the "Meeting") which will be held at 4:00 pm (Toronto time) on November 28, 2016 at suite 4400, Brookfield Place, 181 Bay Street, Toronto, Ontario, Canada. The record date for the Meeting is October 24, 2016. A circular providing further details will be mailed to shareholders in due course.
The Meeting has been properly called, pursuant to section 105(4) of the Ontario Business Corporations Act, so shareholders can have the opportunity to vote to reconstitute the board of directors of ECT by removing each of Elliott Jacobson, Grant Sawiak and Mark Korol as directors, and replacing them with the following independent nominees: Kean Li Wong, Long Trinh and Ian Mallmann.
A majority of the current Board has improperly tried to prevent the Meeting from being held in order to entrench themselves in defiance of the will of the shareholders. Mr. Koh intends to take all reasonable steps to ensure that the will of the shareholders is upheld.
SOURCE Michael Koh
For further information: Michael Koh, email@example.com, 8618600022263