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EGN Engineering.Com Incorporated

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Share Name Share Symbol Market Type
Engineering.Com Incorporated TSXV:EGN TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

ENGINEERING.com Incorporated Announces Shareholder Approval of Proposal to Take ENGINEERING.com Incorporated Private at $0.03...

19/12/2013 7:47pm

Marketwired Canada


ENGINEERING.com Incorporated (TSX VENTURE:EGN), a digital media company that
informs, inspires and engages engineers, today announced shareholder approval of
a proposal (the "Proposal") to take ENGINEERING.com private by way of a share
consolidation. The share consolidation was subject to the approval of 2/3 of the
Common Shares voted at ENGINEERING.com's special meeting of shareholders today
as well as the approval of a majority of the votes cast by minority shareholders
pursuant to the requirements of Multilateral Instrument 61-101 - Protection of
Minority Security Holders in Special Transactions.


Under the Proposal, the going private transaction will be accomplished through
the consolidation of ENGINEERING.com's issued and outstanding Common Shares. The
consolidation of the Common Shares will be completed on the basis of one new
common share for each 350,000 Common Shares now outstanding (the
"Consolidation). Those shareholders who would otherwise have been entitled to
receive fractional shares will instead be paid $0.03 in cash per Common Share
held by them prior to the consolidation (the "Consolidation Price"). Those
shareholders of ENGINEERING.com who hold at least 350,000 Common Shares prior to
the Consolidation, will be the only shareholders of ENGINEERING.com following
the Consolidation.


Of the Company's 43,870,623 outstanding shares, 37,372,725 (85.2%) were
represented at the meeting. Of those shares represented, 37,107,525 (99.3%)
voted in favour of the Consolidation. There were 11,237,465 shares represented
at the meeting that were held by shareholders considered to be minority security
holders for the purposes of Multilateral Instrument 61-101. Of those shares held
by minority security holders, 10,972,265 (97.6%) voted in favour of the
Consolidation.


The Consolidation will occur on or about December 30, 2013 and will be concluded
on an account by account basis. Accordingly, any shareholder who holds 350,000
or more shares in aggregate, but who holds those shares in multiple accounts,
may wish to consolidate those accounts into a single holding in order to remain
a shareholder of ENGINEERING.com.


Subject to the acceptance of the TSX Venture Exchange, ENGINEERING.com intends
to file articles of amendment to effect the Consolidation. Once the
Consolidation is completed, ENGINEERING.com intends to apply to have its Common
Shares delisted from the TSX Venture Exchange and intends to apply to cease to
be a reporting issuer with the applicable securities regulatory authorities.


ENGINEERING.com proposes to complete the going private transaction in order to
eliminate the financial burden of continuing as a reporting issuer.
ENGINEERING.com believes that the anticipated time, costs and regulatory
requirements that are entailed in meeting the legal obligations to public
shareholders cannot be justified in view of its present circumstances, including
a history of very low trading volumes and a limited number of public
shareholders.


About ENGINEERING.com Incorporated

ENGINEERING.com Incorporated (TSX VENTURE:EGN) inspires, informs and entertains
a worldwide audience of engineers through the www.ENGINEERING.com web site,
mobile and social media channels. ENGINEERING.com offers marketing services to
manufacturers, technology inventors and engineering academia. The
ENGINEERING.com Incorporated head office is located in Mississauga, Ontario,
Canada and can be reached at 905-273-9991, by facsimile at 905-273-6691 or
through the Internet at www.ENGINEERING.com.


FOR FURTHER INFORMATION PLEASE CONTACT: 
ENGINEERING.com Incorporated Head Office
905-273-9991
905-273-6691 (FAX)
www.ENGINEERING.com

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