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Shareholders of Ellipsiz Communications Defeat Tat Lee (Michael) Kohs Attempts to Unseat Canadian Directors in the Face of Kohs History of Alleged Misconduct as a Director of Public Companies

FSCWIRE

Shareholders of Ellipsiz Communications Defeat Tat Lee (Michael) Koh’s Attempts to Unseat Canadian Directors in the Face of Koh’s History of Alleged Misconduct as a Director of Public Companies

Toronto, Ontario (FSCwire)Ellipsiz Communications Ltd. (formerly NXA Inc.) (TSXV: ECT) (the “Company” or “ECL”) wishes to announce that on Friday, July 7, 2017, a Special Meeting of shareholders ordered by the Ontario Divisional Court was held to allow Michael Koh, a holder of approximately 42% of the issued shares, to ask shareholders of the Company to remove and replace the 3 current Canadian directors. The majority of a total of 116 shareholders voting in person and by proxy and representing 98.72% of the issued and outstanding shares of ECL rejected Mr. Koh’s request.

Grant Sawiak, one of the 3 Canadian directors, said: “Part of the materials that were distributed to shareholders by ECL included detailed information concerning alleged serious transgressions of securities laws and regulations, allegedly committed by Koh while serving as a director of public companies in Asia and Canada. Based on discussions with various shareholders it was clear they were deeply concerned by this information.”

In December of last year the alleged misconduct engaged in by Koh was brought to the attention of both the OSC and TSX-V but to date the Company is unaware of any action being taken by either regulator.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information contact:

Grant Sawiak

T: 416-917-2816

To view this press release as a PDF file, click onto the following link:

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