OTTAWA, ON and GATINEAU, QC, June 20 /CNW Telbec/ - Liponex Inc.
(TSX:LPX) and ImaSight Inc., a commercial stage medical device company
marketing an innovative, cost effective digital radiology solution, are
pleased to announce that Liponex shareholders have voted in favour of the
proposed transaction with ImaSight to combine their respective businesses in
accordance with the acquisition agreement that was announced March 3, 2008.
At the annual and special meeting of the Liponex shareholders held today,
the shareholders approved the transaction, the name change from "Liponex Inc."
to "ImaSight Corp." and the consolidation of Liponex's common shares on a five
(5) for one (1) basis. The company expects to file articles of amendment to
give effect to the consolidation and name change, conditional upon, and in
connection with, the closing of the transaction with ImaSight.
Completion of the proposed transaction remains subject to the fulfillment
or waiver of various conditions precedent as more particularly set forth in
the acquisition agreement, including the receipt of all required third party
consents and all required regulatory approvals. We cannot assure you that the
transaction will be completed as proposed or at all.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
About ImaSight and its Digital Radiography System
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
About Liponex and CRD5
Liponex is 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 the proposed business combination between Liponex and
ImaSight. Words like "believe", "intend", "may", "expect", "anticipate",
"plan", "should", "assume" 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 among others:
- failure to receive necessary TSX Venture Exchange approvals and/or
necessary approvals of the Canadian regulatory authorities;
- the ability of Liponex and ImaSight to satisfy all of the conditions to
complete the transaction.
For a further description of the principal risks affecting Liponex,
ImSight and the combined entity, see the management information circular of
Liponex dated May 15, 2008 in respect of the meeting filed 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 Liponex and
ImaSight have 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
neither Liponex nor 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.
For further information:
For further information: Liponex Inc.: William Dickie, President and
Chief Executive Officer, (613) 274-7809 ext. 200, Bdickie@liponex.ca; ImaSight
Inc.: John Brooks, CEO, (819) 777-7979 ext. 223, email@example.com