MINNEAPOLIS, March 29, 2016 (GLOBE NEWSWIRE) -- 21st North Inc. (formerly known as Urologix, Inc.) announced today that its Special Meeting of Shareholders commenced earlier today was adjourned for lack of quorum and will be reconvened at 10:00 a.m. local time on April 25, 2016. The reconvened meeting will be held at 4200 IDS Center, 80 South 8th Street, Minneapolis, Minnesota 55402. Extending the voting until April 25th, 2016 provides additional time for shareholders to submit their proxy cards. Shareholders that have voted do not need to vote again.
The Special Meeting of Shareholders is for the purpose of approving the dissolution of 21st North Inc. pursuant to the Plan of Dissolution previously distributed to shareholders. 21st North Inc. has no assets, no operations and substantial liabilities in the form of debt owed to a secured creditor following surrender of the assets to its creditor and subsequent asset sale to a private buyer effective on January 29, 2016. There will be no shareholder distributions nor any transfer of value or liabilities to shareholders as a result of this transaction. Shareholder approval of the Plan of Dissolution will enable the company to terminate the legal existence of the shell in an orderly manner.