OCE Open EC Technologies

Open EC Technologies Inc. (TSX VENTURE:OCE) ("Open EC") is pleased to announce
that on September 7, 2012 the Supreme Court of British Columbia has issued its
Final Order to approve the Plan of Arrangement ("Arrangement") with QHR
Technologies Inc. ("QHR"), whereby QHR proposes to acquire all of the issued and
outstanding common shares, options, and warrants of Open EC. 


The Arrangement continues to be subject to the receipt of final regulatory
approval from the TSX Venture Exchange. If all other conditions to completion of
the Arrangement are satisfied or waived, it is expected that the Arrangement
will be completed in early October, but no later than October 31, 2012.


In preparation for closing, Open EC has asked the Investment Industry Regulatory
Organization of Canada (IIROC) to halt trading of the stock until delisting.
Shareholders who have elected to receive shares of QHR can follow this stock
under the TSXV:QHR stock symbol.


For further details regarding the Arrangement, please refer to the management
information circular dated July 25, 2012, a copy of which is available under the
corporate profile of Open EC on the System for Electronic Document Analysis and
Retrieval at www.sedar.com.


About Open EC Technologies, Inc.

Open EC is an e-Business Information Technology company with our corporate head
office, marketing and development in Vancouver, BC, main HealthCare IT Solutions
Operations office in San Antonio, Texas and Medical Practice Billing Operations
office in Spring Hill, Florida. Open EC has software development and data center
hosting operations in Maine, with Sales and Executive Management staff in
Atlanta Georgia. Open EC's focus is to provide software solutions and
transaction processing services to assist Physicians, Hospitals, Health Plans,
Insurance Brokers and State Governments to exchange information for HIPAA EDI
Health Plan Enrolment, Health Insurance Eligibility, Health Insurance Claims,
Claim Payments and HealthCare Provider Collaboration of supporting patient
referral and industry compliance/reporting documentation.


Additional product and solution information is available on the web at
www.openec.com.


About QHR Technologies Inc.

QHR operates two business units in distinct markets:

The Electronic Medical Records ("EMR") division offers a suite of medical
software modules that provides computer-based medical records for family
physicians, medical specialists, and surgeons, as well as administrative modules
for billing and patient scheduling, that is a key component of the move
throughout Canada to provide electronic healthcare records for all Canadians.
The EMR division also provides on-site and off-site (ASP) hosting capabilities.


The Enterprise Management Software ("EMS") division specializes in workforce
management software, which consists of integrated payroll, staff scheduling and
human resource software, and in customized financial management software built
on the Microsoft Dynamics GP platform. These products are targeted at complex
healthcare, social services and public safety environments.


Additional product and solution information for QHR is available on the web at
www.QHRtechnologies.com.  QHR's common shares trade on the TSX Venture Exchange
under the symbol: "QHR"


ON BEHALF OF THE BOARD

Martyn A. Armstrong, President and CEO

Legal Notice Regarding Forward Looking Statements

This news release may contain "forward looking statements" within the meaning of
applicable Canadian securities legislation. These statements are subject to
risks that may cause the actual results to be materially different in future
periods from those expressed or implied by such forward looking statements.
Forward looking statements in this news release may include those concerning the
anticipated closure date of the Arrangement. Risks that may prevent, delay or
frustrate our objectives expressed in any of these forward looking statements
include the risks inherent in transactions of this nature, including the risks
that the TSX Venture Exchange does not approve the Arrangement when asked to do
so and the risk that the transaction does not complete for other reasons,
including failure of a condition, lack of capital and similar risks. It is our
policy not to update forward looking statements except to the extent required
under applicable securities laws. Further information on Open EC is available at
www.sedar.com or at its website, www.openec.com.

Open EC Technologies (TSXV:OCE)
Historical Stock Chart
From Apr 2024 to May 2024

Open EC Technologies (TSXV:OCE)
Historical Stock Chart
From May 2023 to May 2024