Business
Migenix Announces Shareholder Approval of Plan of Arrangement
Migenix Announces Shareholder Approval of Plan of Arrangement
About this update from Madison Pacific Properties Inc. Class B
[{"type":"text","content":"\nMigenix Announces Shareholder Approval of Plan of Arrangement\n\n\n Mar. 18, 2010 (Filing Services Canada) -- Migenix Inc. (MGI - TSX, MGIFF - OTCBB), announces that its previously announced plan of arrangement (the \"Arrangement\") received requisite shareholder approval at the Company's special meeting of shareholders held today in Vancouver, with 99.86% of votes cast in favour of the Arrangement.  Pursuant to the Arrangement, MIGENIX will receive non-dilutive funding in the aggregate amount of $4,000,000.  The Arrangement, under Division 5 of Part 9 of the Business Corporations Act (British Columbia) involves Madison Pacific Properties Inc, MIGENIX and BioWest Therapeutics Inc., presently a wholly-owned subsidiary of MIGENIX.The Arrangement requires approval of the Supreme Court of British Columbia.  The hearing in respect of the final order to approve the Arrangement (the \"Final Order\") is scheduled to take place on March 19, 2009 at 9:45 a.m. (Vancouver time).  If the Final Order is obtained at such time, and all other conditions to completion of the Arrangement are satisfied or waived, MIGENIX and Madison expect to close the Arrangement in due course thereafter.This news release should be read together with the more detailed information contained in the management information circular of the Company dated February 16, 2010, available on SEDAR at www.sedar.com.For further information, contact Paul Brennan, our chief executive officer, at (604) 790-4671. About MIGENIXMIGENIX is committed to advancing therapy, improving health, and enriching life by developing and commercializing drugs for the treatment of infectious diseases. The Company's programs include drug candidates for: the treatment and prevention of hospital-acquired and other infections, the treatment of dermatological diseases, and the treatment of hepatitis B infections. MIGENIX is headquartered in Vancouver, British Columbia, Canada. Additional information regarding the Company can be found at www.migenix.com. FORWARD-LOOKING STATEMENTSThis news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, and forward-looking information within the meaning of applicable securities laws in Canada (collectively referred to as \"forward-looking statem...