Medworxx Solutions Inc.
TSX VENTURE : MWX

Medworxx Solutions Inc.

October 08, 2015 20:28 ET

Medworxx Solutions Inc. Announces Shareholder Approval of Plan of Arrangement

TORONTO, ONTARIO--(Marketwired - Oct. 8, 2015) - Medworxx Solutions Inc. (TSX VENTURE:MWX) ("Medworxx"), is pleased to announce that Medworxx shareholders have approved the previously announced plan of arrangement (the "Arrangement") involving Medworxx and an affiliate of Aptean, Inc. ("Aptean").

At the special meeting of Medworxx shareholders held earlier today, the Arrangement was approved by approximately 99.97% of the votes cast by shareholders of Medworxx represented in person or by proxy at the special meeting. In accordance with Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions, the Arrangement was also approved by approximately 99.96% of the votes cast at the meeting by disinterested shareholders.

The completion of the Arrangement remains subject to the approval of the Superior Court of Ontario. The hearing is to be held at 330 University Avenue, 8th Floor, Toronto, Ontario on October 13, 2015 at or about 10:00 a.m. If approved and all other conditions to the Arrangement are satisfied, Aptean will acquire all of the outstanding class A common shares of Medworxx and Medworxx will become a wholly-owned subsidiary of Aptean.

The class A common shares of Medworxx are expected to be delisted from the TSX Venture Exchange (the "Exchange") at the close of trading on or about two business days after the closing of the Arrangement.

Closing of the Arrangement is expected to occur on or about October 14, 2015.

Further information regarding the Arrangement may be found in the management information circular of Medworxx dated September 9, 2015 prepared in connection with the special meeting of Medworxx shareholders and which is available under Medworxx's profile at www.sedar.com.

About Medworxx

Medworxx delivers health information solutions to over 350 hospitals internationally; including Canada, United States and United Kingdom. Medworxx helps hospitals meet patient flow challenges and requirements in compliance and education. Medworxx Clinical Criteria- flagship of Medworxx Patient Flow that includes electronic bed board and independent assessment components - currently serves over 34% of the acute care beds in Canada. Founded in 2004, Medworxx is based in Toronto, Ontario and publicly traded on the TSX Venture Exchange: MWX. Visit: www.medworxx.com.

About Aptean

Aptean is a leading provider of industry-focused mission critical enterprise software solutions. We build and acquire solutions to support the evolving operational needs of our customers. Our solutions help nearly 5,000 organizations stay at the forefront of their industries by satisfying their customers and continuing to operate more efficiently. For more information, visit www.aptean.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements Disclaimer

This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or "recurring" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, such as delay or failure to receive regulatory or court approvals or the failure to satisfy other closing conditions to the Arrangement, competition, technological changes, the changing needs of hospitals, the financial condition of the Corporation's and Aptean's current and potential customers, foreign currency exchange rates, as well as general economic conditions, which may cause the actual results, performance or achievements of the Corporation and Aptean to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Factors that could cause actual results to differ materially from those set forward in the forward-looking statements include, but are not limited to, the Arrangement with Aptean successfully occurring and additional risks and uncertainties referred to in our filings with the securities regulators in Canada, many of which are beyond our control. Except as required by law, we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. However, any further disclosures made on related subjects in subsequent reports should be consulted.

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