Destiny Media Proposes to Change Corporate Jurisdiction to Nevada
VANCOUVER, August 6, 2014 - 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.
For further information:
CEO Destiny Media Technologies, Inc.
604 609 7736 x222
Three Part Advisors
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