Issued and Outstanding common shares: 13,772,040
MISSISSAUGA, ON, Oct. 24 /CNW/ - Meta Health Services Inc. (TSX-V: MHS)
(the "Company") wishes to advise on recent developments at the Company in
connection with its application for reinstatement to trading on the NEX board
of the TSX Venture Exchange.
The application for reinstatement to trading on the NEX is necessary as
the Company was previously subject to cease trade orders issued by three
securities commissions. These cease trade orders resulted in the suspension of
trading of the Company's common shares on the TSX Venture Exchange. The
Company has since satisfied the conditions to have the cease trade orders
revoked, and revocations orders were received in February 2008.
The revocation of these cease trade orders permitted the Company to
complete a corporate restructuring which involved the sale of Theramed
Corporation, the Company's operating subsidiary, to Rogan Holdings Corporation
on April 8, 2008, and the release of the Company's obligations to Rogan
Holdings Corporation as disclosed in the Company's press release dated April
As a result of this reorganization, the Company no longer has any
material assets or liabilities and the Company no longer meets the Tier
Maintenance Requirements of the TSX Venture Exchange. The Company's shares
have since been transferred to the NEX board of the TSX Venture Exchange where
they had remained suspended from trading.
In light of the travel schedules of various directors over the summer
months, it took the Company took longer than initially anticipated to provide
the TSX Venture Exchange with the documents necessary to effect the
reinstatement to trading on NEX. The Company has now satisfied these
requirements and its common shares are scheduled to be reinstated to trading
on the NEX board of the TSX Venture Exchange effective the opening Tuesday,
October 28, 2008.
The Company also announces that Steven F. Rosenhek resigned from the
board of directors of the Company on July 28, 2008. The board of directors
wishes to thank Mr. Rosenhek for his contributions to the Company.
The Company intends to continue to seek out alternatives to maximize
shareholder value in light of its recent reorganization, and anticipates that
a listing on the NEX board of the TSX Venture Exchange would further its
efforts in this regard.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release and has neither approved nor disapproved of
the contents of this release.
For further information:
For further information: Robert Taylor, President and CEO, (905)