EDMONTON, March 23, 2012 /CNW/ - Medwell Capital Corp. (TSXV: MWC) today advised shareholders that the Alberta Securities Commission (ASC) and the British Columbia Securities Commission (BCSC) are warning investors of what appears to be a 'recovery room' scheme that is reportedly targeting Medwell Capital shareholders. Medwell Capital advises shareholders that it does not have any contact with the individuals involved in this scheme.
The alert from the securities commissions is in response to reports that Medwell Capital shareholders in Alberta, B.C. and Ontario have been solicited directly via phone or email by a man misrepresenting himself and the company that employs him and offering to purchase Medwell Capital shares from investors in exchange for shares in a different company at a significantly higher price. In a typical recovery room scheme once investors agree to the deal, the operators of the scheme ask the investor to first pay a fee for the transaction or there is a cost to exchange shares. The operators keep the fee, but do not repurchase the shares or issue the promised replacement shares.
Medwell Capital recommends that shareholders who have been contacted call the securities commission in their home province. Medwell is cooperating with the appropriate securities commissions regarding this matter.
The full text of the investor alert is available on the Alberta Securities Commission website or by clicking the following link: http://bit.ly/GNMQvJ.
About Medwell Capital Corp.
Medwell Capital Corp. is a Canadian-based investment and advisory firm. For further information please visit www.medwellcapital.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release may contain forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time to time in the Corporation's ongoing quarterly and annual reporting. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information:
416-815-0700 ext. 238