MARKHAM, ON, June 22, 2016 /CNW/ - Nightingale Informatix
Corporation ("Nightingale" or the "Company") (TSX-V: NGH), wishes
to provide the following update on its previously announced
strategic review process originally disclosed on February 29, 2016 (the "Process").
The Process was initiated by the independent members of the Board
and was intended to examine alternatives to enhance shareholder
value, including a sale of all or a portion of the existing
business, as well as various financing and recapitalization
alternatives. In this regard the Board engaged financial and legal
advisors to assist it in implementing the Process. A number of
alternatives were explored and the Board has concluded that
shareholder value would best be enhanced by concluding a sale of
assets comprising substantially all of the Canadian business. As a
result of this process, the Company has been in discussions with
potential acquirers with the intention of concluding a definitive
agreement in respect of a transaction (the "Proposed Transaction")
as soon as possible. There is no assurance that such agreement will
be concluded or that the Proposed Transaction will proceed as
currently contemplated or at all.
The terms of the Proposed Transaction, if agreed to, will be set
forth in a definitive acquisition agreement and closing of the
Proposed Transaction will be subject to the satisfaction of closing
conditions in such agreement, which will include TSX Venture
Exchange and shareholder approval.
The Company shall provide further updates to shareholders as to
the status of its strategic review process and the Proposed
Transaction when available.
About Nightingale
For more than a decade, Nightingale (TSX-V: NGH) has been
delivering innovative cloud-based Electronic Health Record (EHR) ,
Practice Management and Claims Clearing House solutions to
healthcare organizations across Canada. Our goal is to
uncomplicate the day-to-day challenges of healthcare providers. We
achieve this by creating software that is truly
intuitive—minimizing training and maximizing adoption. We believe
so strongly in building easy-to-use software that we structured our
entire product team around user-centric design. Our clients are
benefiting from this focus through a well-supported and robust
solution that presents a holistic view of a person's well-being in
a simple, clean interface, so that the best health decisions can be
made. Nightingale – One Patient.
One Record.
www.nightingalemd.com
Forward Looking Statement
This press release contains "forward-looking statements"
within the meaning of applicable Canadian securities legislation.
Specifically, and without limitation, this press release contains
forward-looking statements and information relating to: the
anticipated timing for the closing of the Proposed Transaction, as
well as the likelihood of such a transaction occurring at all.
Generally, forward- looking statements can be identified by the use
of forward- looking terminology such as "plans", "expects" or "does
not expect", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or state that certain
actions, events or results "may" ,"could", "would", "might",
"occur" or "be achieved". Forward-looking statements are subject to
known and unknown risks, uncertainties and other factors that may
cause the actual results to be materially different from those
expressed or implied by such forward-looking statements, including
but not limited to: risks associated with obtaining the required
approval of the TSXV and other approvals related to the completion
of the Proposed Transaction; the likelihood of the parties
concluding a definitive agreement regarding the Proposed
Transaction on the terms announced or at all. All
material assumptions used in making forward-looking
statements are based on management's knowledge of current business
conditions and expectations of future business conditions and
trends, which are subject to change.
Although Nightingale has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such 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. Nightingale does not
undertake to update any forward-looking statements that are
incorporated by reference herein, except in accordance with
applicable securities laws. Further information on Nightingale
Informatix Corporation is available at
www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Nightingale Informatix Corporation