MEDWELL TO PAY DIVIDEND OF SPECTRAL WARRANTS
EDMONTON, Alberta – October 30, 2013 – Medwell Capital Corp. ("Medwell") (TSX-V: MWC) is pleased to announce that the Board of Directors have declared a dividend. Shareholders of record at the close of business on November 12, 2013 will be entitled to receive two (2) share purchase warrants of Spectral Diagnostics Inc. ("Spectral") for every one (1) common share of Medwell they hold. Each Spectral warrant entitles the holder to purchase one common share of Spectral at a price of $0.60 per share until March 2, 2014.
The dividend will result in the payout of 14,540,142 Spectral warrants, following which Medwell will continue to hold 659,858 warrants, subject to adjustment for certain taxes which Medwell may be required to withhold. Payment of the dividend will take place on November 29, 2013.
No Spectral warrants will be distributed to Medwell shareholders who are (or are deemed to be) non-residents of Canada. Rather, such Spectral warrants will be delivered to a trustee for sale in the open market following payment of the dividend, and the net proceeds will be delivered to non-resident shareholders, net of any withholding taxes.
ON BEHALF OF THE BOARD OF DIRECTORS OF MEDWELL CAPITAL CORP.
President, CEO & Chairman
About Medwell Capital Corp.
Medwell Capital Corp. is a Canadian-based investment and advisory firm. For further information please visit www.medwellcapital.com.
Neither 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. This press release may contain forward-looking statements, which reflect the Company’s current expectation regarding future events. These forward-looking statements involve risks and uncertainties that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time to time in the Corporation’s ongoing quarterly and annual reporting. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.