VANCOUVER, Aug. 6, 2014 /PRNewswire/ - 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.
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SOURCE Destiny Media Technologies, Inc.