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
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.