MARKHAM,
ON, July 29, 2016 /CNW/ -
Nightingale Informatix Corporation ("Nightingale" or the "Company")
(TSX-V: NGH) today announced that the filing of its audited annual
consolidated financial statements as at and for the years ended
March 31, 2016 and 2015 ("Annual
Financials"), related management discussion and analysis
("MD&A") and applicable officer certifications (together
with the Annual Financials and MD&A, the "Annual
Materials") will, in all likelihood, be delayed beyond the
statutory filing deadline of July 29,
2016.
On July 14, 2016,
the Company announced that it had signed a definitive agreement,
subject to certain conditions, to sell substantially all its assets
(the "Transaction"). It is anticipated that the
Transaction will close on or about August
31, 2016. As a result of this, the Company expects to
make significant changes to the Annual Materials to properly
reflect the material impact of the Transaction. The delay in
reporting is due to the Company having deferred the commencement of
the annual audit and the required time to execute an audit of the
Company in accordance with Generally Accepted Auditing Standards
along with the changes driven by the announcement relating to the
Transaction. The Company expects to be in a position to file the
Annual Materials on or before August 15,
2016, although there are no assurances in this regard.
The Company has scheduled August 30, 2016 to hold a special shareholders
meeting in order to approve the Transaction. The Company
expects to be mailing materials for that meeting during the first
week of August, 2016 and expects to be posting a copy of such
materials on www.sedar.com shortly thereafter.
Given the anticipated failure to file the Annual
Materials on or before the statutory filing deadline, the Company
expects that its publicly traded common shares may become subject
to a cease trade order imposed by the applicable securities
regulatory authorities until such time as the Annual Materials are
filed.
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 Statements:
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 of the filing the Annual
Materials, the scheduled date for holding of the special meeting to
approve the Transaction and the anticipated closing date of
the Transaction. 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 the risks associated with:
obtaining the required approvals related to the completion of the
Transaction and the completion of the Transaction generally; the
ability of the Company to file the Annual Materials on or before
the stated times or at all and the effect that such failure may
have on the ability to trade in the securities of the
Company, the ability of Nightingale to successfully develop
and market the V10 platform and successfully complete the sale of
the Company following the completion of the Transaction. All
material assumptions used in making forward-looking statements are
based on management's knowledge at the time such statements are
made and 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