CORRECTION FROM SOURCE: Midpoint Retains Market-Making Services and Grants Options
March 19 2014 - 2:22PM
Marketwired Canada
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAWS.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Midpoint Holdings Ltd.
The Exchange Tower
130 King Street West, Suite 3680
Toronto, ON M5X 1B1
Midpoint Holdings Ltd.
John G. Booth
Chairman & CEO
+44 (020) 220 6382
Midpoint Holdings Ltd.
Marc Henderson
Director
+1 (416) 214 9910
Midpoint (TSXV:MPT)
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