Tilting Capital Corp.
NEX BOARD : TLL.H

December 03, 2015 12:39 ET

ArcScan Finalizes Us Food and Drug Administration ("FDA") Submission for Its Insight 100™ Ophthalmic Medical Device

CALGARY, ALBERTA--(Marketwired - Dec. 3, 2015) - Tilting Capital Corp. (the "Corporation" or "Tilting") (NEX:TLL.H) announces that ArcScan, Inc.("ArcScan" or "the Company"), its merger partner under its proposed business combination ("Transaction"), has finalized and submitted its premarket notification to FDA for its Insight 100 ophthalmic medical device.

"This is a significant milestone for ArcScan and the culmination of several years' design, engineering and patenting work to refine and extend the Company's core technology and to take its predicate (predecessor) device and turn it into a robust, easy to use device which delivers top quality, best-in-class images repeatedly." said Andrew Levien, CEO of ArcScan.

"We currently anticipate that the FDA review process will be completed during Q1, 2016 which would position the Company to move into early commercialization in North America shortly thereafter. We also anticipate that the submission process for CE Mark, which will enable commercialization in Europe, will also be finalized in a similar time-line" finished Levien. (The ArcScan Insight 100 has not yet received clearance for sale in the US or other markets).

For further information on ArcScan, please visit its recently updated web site: www.arcscan.com

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and shareholder approval (if required). The Transaction cannot close until shareholder approval is obtained (if required). There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied on. Trading in the securities of Tilting Capital Corp. should be considered highly speculative.

Neither the NEX Board nor the TSX Venture Exchange Inc. has in any way passed upon the merits of the proposed transaction and has neither approved or disapproved the contents of this press release.

All information contained in this press release with respect to ArcScan was supplied by the ArcScan, respectively, for inclusion herein.

This news release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States or to or for the account or benefit of U.S. persons (as such terms are defined in Regulation S under the United States Securities Act of 1933, as amended (the "U.S. Securities Act")), absent registration or an exemption from registration. The securities offered have not been and will not be registered under the U.S. Securities Act or any state securities laws and, therefore, may not be offered for sale in the United States, except in transactions exempt from registration under the U.S. Securities Act and applicable state securities laws.

Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements"), including details about the Transaction. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Corporation's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility, the risks that the parties will not proceed with the Transaction, that the ultimate terms of the Transaction will differ from those that currently are contemplated, and the ability to access sufficient capital from internal and external sources. Although the Corporation believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our public disclosure documents available at www.sedar.com. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Corporation does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

Neither the NEX Board, the 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 press release.

Contact Information

  • Tilting Capital Corp.
    Scott P. Hayduk
    (403) 444-7845