TORONTO, ONTARIO--(Marketwired - March 19, 2014) -
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Midpoint Holdings Ltd. ("Midpoint") (TSX VENTURE:MPT) - A correction from source is issued with respect to the news release that was disseminated on March 18, 2014 at 3:47 p.m. (Eastern Standard Time). The amount to be paid by Midpoint to VLP per month, on a month to month basis, should have read: "$5,000". The correct version follows:
Midpoint Holdings Ltd. ("Midpoint") (TSX VENTURE:MPT) has, subject to regulatory approval, retained Venture Liquidity Providers Inc. ("VLP") to initiate its market-making service to provide assistance in maintaining an orderly trading market for the common shares of Midpoint.
The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its services, Midpoint has agreed to pay VLP $5,000 per month, on a month to month basis. The agreement may be terminated at any time by Midpoint or VLP. Midpoint and VLP act at arm's length, and VLP has no present interest, directly or indirectly, in Midpoint or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by Midpoint to VLP is for services only.
VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX-V-listed issuers.
Midpoint also announces that it has granted an aggregate of 1,820,000 options to purchase common shares of Midpoint exercisable at a price of $0.20 per common share for a period of 5 years to directors, officers, consultants and employees of Midpoint. The common shares issuable upon exercise of the options are subject to a four month hold period from the original date of grant.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved of the contents of this press release.
This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing Midpoint and its business and affairs, readers should refer to Midpoint's Management's Discussion and Analysis. Midpoint undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.