CALGARY, March 6 /CNW/ - OHS Capital Corp. ("OHS") is pleased to announce
that, subject to the approval of the TSX Venture Exchange ("TSXV"), Ms. Cathy
Honor and Mr. David Sutin were appointed to the board of OHS as nominees of
Royal Bank of Canada ("RBC"), a major shareholder of OHS, and that OHS has
accepted the resignation of Mr. John A. Mahoney as a director. The board would
like to thank Mr. Mahoney for the significant contribution he provided to OHS
over the years, and wish him well in his future endeavours.
Ms. Honor is currently Senior Vice President of Cards and Payment
Solutions and Executive Champion for Client Loyalty for Royal Bank of Canada.
Mr. Sutin is a financial advisor with extensive experience and success in
corporate and real estate investment activity.
Ms. Honor and Mr. Sutin join the board of OHS in conjunction with the
private placement with RBC, whereby RBC purchased 14 million common shares in
the capital of OHS at a price of $0.15 per share, as well as a non-brokered
private placement of an additional 1 million common shares at $0.15 per share.
The 14 million common shares issued to RBC are subject to a 4 month hold
period pursuant to securities legislation as well as an escrow agreement in
accordance with the policies of the TSX Venture Exchange.
Last Tuesday OHS announced the closing of its qualifying transaction,
subject to final review by the TSXV, whereby OHS purchased all of the issued
and outstanding Class "A" common shares in the capital of Pay Linx
Further, OHS has received approval from the TSXV to change its name to
"Pay Linx Financial Corporation", and has reserved the use of "PIN" as its new
trading symbol. The completion of that change is anticipated early this week.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Statements in this release which describe OHS's intentions, expectations
or predictions, or which relate to matters that are not historical facts are
forward-looking statements. These forward-looking statements involve known and
unknown risks and uncertainties which may cause the actual results,
performances or achievements of OHS to be materially different from any future
results, performances or achievements expressed in or implied by such
forward-looking statements. OHS may update or revise any forward-looking
statements, whether as a result of new information, future events or changing
market and business conditions.
For further information:
For further information: please contact either Ian McNeill, President
and Chief Executive Officer or Gordon Travis the Chief Financial Officer of
OHS Capital Corp. at the below phone numbers or e-mail addresses: Gordon R
Travis, Telephone: (403) 338-1001, Email: firstname.lastname@example.org; Ian McNeill,
Telephone: (780) 423-3196, Email: Ian@PayLinx.ca