BURLINGTON, ON, April 1, 2013 /CNW/ - Tenth Power Technologies Corp. ("Tenth Power" or the "Company") (TSX-V:TPI) confirms that this press release is being issued at the request of the TSX Venture Exchange.
As previously announced in its March 12, 2013 press release, the Company has set Tuesday, May 7, 2013 as a new date for its shareholders meeting that is past due from last year. The Company had called a February 12, 2013 date for its AGM, but subsequently did not hold it due to discussions the Company was in with an arm's length party to effect a business combination transaction. The Company had anticipated that the February 12, 2013 shareholders meeting would have considered that transaction, but the transaction in question was subsequently abandoned before a definitive agreement was entered into.
The Company acknowledges that it is offside the Exchange's requirements set out in Exchange Policy 3.2 Section 3.1 for holding its AGM a second time as the February 12, 2013 AGM was to be held to meet the requirements of the Exchange. The Company has undertaken to the Exchange that it will hold its future AGMs within the time period required by the Exchanges' Policies.
About Tenth Power Technologies Corp.
Tenth Power is a Canadian-based technology and solutions company. Tenth Power supplies secure business solutions to clients in the telecommunications, financial services, manufacturing, government and health care sectors. Tenth Power augments proprietary software with product licensing and strategic acquisition of industry-leading services, to design solutions that safeguard information and electronic communications. The suite of products includes identity and signature authentication, Internet security, safe communication platforms and a secured collaboration environment. Tenth Power also provides IT security consulting and managed services.
Forward Looking Statements
This press release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The Company disclaims any obligation to update these forward-looking statements.
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.
SOURCE: Tenth Power Technologies Corp.
For further information:
contact Guy Burry
Telephone: (905) 332-6677