Ottawa, Ontario CANADA, February 10, 2012 /FSC/ - Bruce Mitchell ("Mitchell") today announced that, through inadvertence, Mitchell failed to file an Early Warning Report in January 2010 as required by applicable securities legislation in connection with the acquisition of 864,900 Common Shares (the "Shares") of MDN Inc. ("MDN") on January 17, 2010 through the facilities of the Toronto Stock Exchange at a price of $0.522 per Share.
When added to the aggregate of 9,323,500 Common Shares held by Mitchell and Common Shares over which Mitchell had discretionary trading authority and control or direction over at that time the acquisition of the Shares resulted in Mitchell's securityholdings of MDN being approximately 10.74% of MDN's issued and outstanding Common Shares at that time.
Mitchell acquired the above-noted securities of MDN for investment purposes. Mitchell increased and/or decreased and may continue to increase and/or decrease his beneficial ownership, control or direction over the securities of MDN according to market conditions and other relevant factors.
A copy of the Early Warning Report can be found on SEDAR at www.sedar.com under MDN's Company Profile. In accordance with applicable securities legislation, Mitchell has also filed insider trading reports for all transactions involving securities of MDN for the period during which he was an insider of MDN.
As of the date hereof, Mitchell beneficially owns, directly and indirectly, an aggregate of 9,495,400 Common Shares of MDN.
For further information please contact:
Bruce Mitchell
Suite 108, 42 Antares Drive
Nepean, Ontario
K2E 7Y4
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