Medwell Capital to Adopt IFRS

    




 EDMONTON, Oct. 3, 2011 /CNW/ - Medwell Capital Corp.  today  announced that the Company will present its financial statements in  accordance with International Financial Reporting Standards ("IFRS"). 

 The Company does not expect that adoption of IFRS will have a  significant effect on the Company's consolidated financial statements. 

 The Company had applied to the Alberta Securities Commission ("ASC"),  for exemptive relief to continue reporting its financial statements  using Canadian Generally Accepted Accounting Principles ("Canadian  GAAP"), specifically CICA Accounting Guideline 18, Investment  Companies.  The Company was notified on September 29, 2011, that the  exemptive relief sought was not granted by the ASC.  For comparison  purposes the transition date to adopt IFRS for companies with a  December 31 year end is January 1, 2010. 

 About Medwell Capital Corp. 

 Medwell Capital Corp. is a Canadian-based merchant bank that provides of  capital and advisory services to the healthcare industry. For further  information please visit www.medwellcapital.com. 

 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.   This press release may contain forward-looking statements, which  reflect the Company's current expectation regarding future events.   These forward-looking statements involve risks and uncertainties that  may cause actual results, events or developments to be materially  different from any future results, events or developments expressed or  implied by such forward-looking statements.  Such factors include, but  are not limited to, changing market conditions, the successful and  timely completion of clinical studies, the establishment of corporate  alliances, the impact of competitive products and pricing, new product  development, uncertainties related to the regulatory approval process  and other risks detailed from time to time in the Corporation's ongoing  quarterly and annual reporting.  We undertake no obligation to publicly  update or revise any forward-looking statements, whether as a result of  new information, future events or otherwise. 

Medwell Capital Corp.


CONTACT:  Tony Hesby                              Ross MarshallMedwell Capital Corp.                   Investor Relations780-413-7152                            416-815-0700 ext. 238780-408-3040 Fax                        416-815-0080 FaxE-mail: [e-mail]         E-mail: [e-mail]: http://www.medwellcapital.com 


    

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