TORONTO,
Oct. 5, 2016 /CNW/ - Mr. Tat
Lee (Michael) Koh, the single
largest shareholder and a director of Ellipsiz Communications Ltd.
(the "Company") (TSXV: ECT), confirms today that,
notwithstanding yesterday's press release of the Company, he is
proceeding with the special meeting of shareholders (the
"Meeting") which will be held at 4:00
pm (Toronto time)
on November 28, 2016 at suite 4400, Brookfield Place, 181 Bay Street, Toronto, Ontario, Canada. The record date for
the Meeting is October 24, 2016. A circular providing further
details will be mailed to shareholders in due course.
The Meeting has been properly called, pursuant to
section 105(4) of the Ontario Business Corporations
Act, so shareholders can have the opportunity to vote to
reconstitute the board of directors of ECT by removing each of
Elliott Jacobson, Grant Sawiak and Mark
Korol as directors, and replacing them with the following
independent nominees: Kean Li Wong, Long Trinh and Ian
Mallmann.
A majority of the current Board has improperly
tried to prevent the Meeting from being held in order to entrench
themselves in defiance of the will of the shareholders. Mr. Koh
intends to take all reasonable steps to ensure that the will of the
shareholders is upheld.
SOURCE Michael Koh