Destiny Media Proposes to Change Corporate Jurisdiction to Nevada
VANCOUVER, Aug. 6, 2014 /CNW/ - Destiny Media Technologies (TSXV: DSY) (OTCQX:
DSNY) announces that it proposes to change its corporate jurisdiction from
Colorado to Nevada. The change of corporate jurisdiction is subject to the
approval of the shareholders at a special meeting to be held on September 25,
2014 as well as the TSX Venture Exchange.
Destiny believes that the change of corporate jurisdiction will give it a
greater measure of flexibility and simplicity in corporate governance than is
available under Colorado law and will increase the marketability of its
securities. The State of Nevada is recognized for adopting comprehensive
modern and flexible corporate laws which are periodically revised to respond
to the changing legal and business needs of corporations. Destiny believes
that Nevada corporate law is more flexible than Colorado corporate law as well
as having a more substantive body of corporate law. For these reasons, Destiny
believes that our business and affairs can be conducted to better advantage if
we are able to operate under Nevada law.
On Behalf of the Board of Directors
Destiny Media Technologies provides services that enable content owners to
securely display and distribute their audio and video content digitally
through the internet. The Company's two major services are Clipstream and Play
MPE®. Clipstream (www.clipstream.com) is a video format that plays on any
modern smart phone, tablet, internet, TV, or computer. With Clipstream, there
is no player to configure or install, videos never go obsolete, and there are
up to 90% cost savings by reducing the use of transcoding, infrastructure and
bandwidth. Play MPE (www.plaympe.com) provides a standardized method to
securely and cost effectively distribute pre-release music to radio stations
and other music industry professionals, before it is ready for sale. More
information can be found at www.dsny.com.
CO: Destiny Media Technologies, Inc.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are subject to risks, uncertainties and assumptions and are
identified by words such as "expects," "intends", "estimates," "projects,"
"anticipates," "believes," "could," and other similar words. All statements
addressing product performance, events, or developments that Destiny Media
Technologies, Inc. expects or anticipates will occur in the future are
forward-looking statements. Because the statements are forward-looking, they
should be evaluated in light of important risk factors and uncertainties.
Should one or more of these risks or uncertainties materialize, or should any
of Destiny Media Technologies, Inc.'s underlying assumptions prove incorrect,
actual results may vary materially from those currently anticipated. Except
as required by law, Destiny Media Technologies, Inc. disclaims any obligation
to update or publicly announce any revisions to any of the forward-looking
statements contained in this press release. There can be no assurance that
such statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements.
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.
SOURCE Destiny Media Technologies, Inc.
Contacts: Steve Vestergaard CEO Destiny Media Technologies, Inc. 604 609 7736
x222 Investor Relations: Dave Mossberg Three Part Advisors 817-310-0051
To view this news release in HTML formatting, please use the following URL:
CO: Destiny Media Technologies, Inc.
ST: British Columbia
-0- Aug/06/2014 21:20 GMT
Press spacebar to pause and continue. Press esc to stop.