Tlc Vision (MM) (NASDAQ:TLCV)
Historical Stock Chart
5 Years : From May 2008 to May 2013
TLC Vision Corporation (NASDAQ: TLCV) (TSX: TLC), North America's premier eye care services company, today announced
that further to its press release issued on December 21, 2009, the Ontario
Superior Court of Justice has granted a recognition order relating to a
variety of orders received by the Company from the United Bankruptcy Court
for the District of Delaware in its "First Day Motions" filed in
conjunction with the Company's voluntary petition under Chapter 11 of the
U.S. Bankruptcy Code.
These orders include: approval for the use of $7.5 million of a $15 million
debtor-in-possession financing facility; continued payment of wages,
salaries and other employee benefits; authority to use the Company's cash
collateral; and authority to pay certain critical vendors in full.
For access to Court documents and other general information about the
Chapter 11 cases, please visit http://chapter11.epiqsystems.com/tlcvision.
In addition, we have established a restructuring hotline: 877-879-5075 for
U.S. and Canada callers, 503-597-7713 for International callers.
This press release contains certain forward-looking statements within the
meaning of Section 27A of the U.S. Securities Act of 1933, Section 21E of
the U.S. Securities Exchange Act of 1934 and Canadian Provincial Securities
Laws, which statements can be identified by the use of forward-looking
terminology, such as "may," "will," "expect," "intend," "anticipate,"
"estimate," "predict," "plans" or "continue" or the negative thereof or
other variations thereon or comparable terminology referring to future
events or results. We caution that all forward-looking information is
inherently uncertain and that actual results may differ materially from the
assumptions, estimates or expectations reflected in the forward-looking
information. A number of factors could cause actual results to differ
materially from those in forward-looking statements, including but not
limited to economic conditions, the level of competitive intensity for
laser vision correction, the market acceptance of laser vision correction,
concerns about potential side effects and long term effects of laser vision
correction, the ability to maintain agreements with doctors on satisfactory
terms, quarterly fluctuation of operating results that make financial
forecasting difficult, the volatility of the market price of our common
shares, profitability of investments, successful execution of our
direct-to-consumer marketing programs, the ability to open new centers, the
reliance on key personnel, medical malpractice claims and the ability to
maintain adequate insurance therefore, claims for federal, state and local
taxes, compliance with industry regulation, compliance with U.S. and
Canadian healthcare regulations, disputes regarding intellectual property,
many of which are beyond our control.
Therefore, should one or more of these risks materialize, or should
assumptions underlying the forward-looking statements prove incorrect,
actual results may vary significantly from what we currently foresee.
Accordingly, we warn investors to exercise caution when considering any
such forward-looking information herein and to not place undue reliance on
such statements and assumptions. We are under no obligation (and we
expressly disclaim any such obligation) to update or alter any
forward-looking statements or assumptions whether as a result of new
information, future events or otherwise, except as required by law. See the
Company's reports filed with the Canadian Securities Regulators and the
U.S. Securities and Exchange Commission from time to time for cautionary
statements identifying important factors with respect to such
forward-looking statements, including certain risks and uncertainties, that
could cause actual results to differ materially from results referred to in
forward-looking statements. TLCVision assumes no obligation to update the
information contained in this press release.
TLCVision is North America's premier eye care services company, providing
eye doctors with the tools and technologies needed to deliver high-quality
patient care. Through its centers' management, technology access service
models, extensive optometric relationships, direct to consumer advertising
and managed care contracting strength, TLCVision maintains leading
positions in Refractive, Cataract and Eye Care markets. Information about
vision correction surgery can be found on the TLC Laser Eye Centers'
website at www.tlcvision.com.
James J. Hyland
VP Investor Relations