Business
Covalon Announces Results of Annual and Special Meeting of Shareholders
MISSISSAUGA, ON, June 14, 2013 /CNW/ - Covalon Technologies Ltd. (the "Company") (TSXV: C...
About this update from Covalon Technologies Ltd.
[{"type":"text","content":"\n\n\nMISSISSAUGA, ON, June 14, 2013 /CNW/ - Covalon Technologies Ltd. (the\n \"Company\") (TSXV: COV), an advanced medical technologies company, held\n its Annual and Special Meeting of shareholders on June 13, 2013.\n\n\nAt the Meeting, approximately 85% of the represented Shares approved the\n consolidation of its issued and outstanding common shares (\"Shares\") on\n the basis of 10 pre-consolidated Shares for each post-consolidation\n Share, subject to TSX Venture Exchange approval. Accordingly, the\n Company will commence the process of the Share consolidation.\n\n\nIn addition, approximately 99% of the represented Shares of\n disinterested shareholders approved a resolution allowing Abe Schwartz,\n the Company's Chairman of the Board of Directors, to continue to\n financially support the Company by increasing his holdings in the\n Company, and thereby becoming a 'control person' as defined in the TSX\n Venture Exchange Corporate Finance Manual, through a negotiated private\n placement should it be deemed necessary by the Covalon Board (without\n the participation of Mr. Schwartz) and subject to TSX Venture Exchange\n approval.\n\n\nShareholders also approved the re-appointment of the Company's Board of\n Directors, re-appointment of the Company's auditors and the Company's\n stock option plan.\n\n\nAbout Covalon\n\n\nCovalon Technologies Ltd. researches, develops and commercializes new\n healthcare technologies that help save lives around the world.\n Covalon's patented technologies, products and services address the\n advanced healthcare needs of medical device companies, healthcare\n providers and individual consumers. Covalon's technologies are used to\n prevent, detect and manage medical conditions in specialty areas such\n as wound care, tissue repair, infection control, disease management,\n medical device coatings and biocompatibility. To learn more about\n Covalon, visit our website at www.covalon.com\n\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as\n that term is defined in the policies of the TSX Venture Exchange)\n accepts responsibility for the adequacy or accuracy of this release. \n\n\nThis news release contains forward-looking statements which reflect the\n Company's current expectations regarding future events. The\n forward-looking statements are often, but not always, identified...