Contact Information: Investor Relations Contact: The Del Mar Consulting Group, Inc. Robert B. Prag President (858) 794-9500 Validian Contact: Bruce Benn President & CEO Validian Corporation (613) 230-7211 Ext 226
OTTAWA--(Marketwire - October 5, 2007) - Ewire -- Validian Corporation (OTCBB : VLDI ), a
leader in application security software and solutions, held its annual
meeting of shareholders (Annual Meeting) on Thursday, October 4, 2007 in
Ottawa. At the Annual Meeting, shareholders re-elected Bruce Benn and
Ronald Benn as Directors for a term to expire at the next Annual Meeting.
Also approved at the Annual Meeting were a proposal to amend the Company's
Restated Articles of Incorporation to increase the number of shares of
common stock authorized for issuance from 100,000,000 shares to 300,000,000
shares and to increase the number of shares of preferred stock authorized
for issuance from 7,000,000 shares to 50,000,000 shares; a proposal to
amend and restate the Company's 2004 Amended Incentive Equity Plan (the
"Plan") to make certain changes including an increase in the maximum number
of shares reserved for issuance pursuant to the Plan from 3,087,698 to
6,087,698; and a proposal to ratify KPMG LLP as Validian's independent
auditor for the fiscal year ending December 31, 2007.
"I'd like to thank our shareholders who voted or provided proxies for our
meeting. I'm happy to report that as a result of focusing on outreach to
our shareholders, sharing information with them about our corporate
governing process, more than 40 million shares, representing more than 85%
of the total shares issued and outstanding, have been voted at this
meeting," said Bruce Benn, President and CEO of Validian. "I'd also like to
thank our shareholders who attended the meeting."
About Validian
Validian Corporation is a leader in the development and marketing of
innovative application-security and secure data-exchange software and
solutions for public and private enterprises. Validian ASI™ is a
software-only development and deployment environment for peer-to-peer (P2P)
and client-server architectures that enables application authentication and
secure data exchange to be integrated directly into applications rapidly
and easily, lowering development and deployment costs. ASI protects against
attacks by authenticating applications thereby preventing the hacking of
applications, and by encrypting and decrypting data within applications to
ensure data exchanged between trusted applications never travels in the
clear, thereby preventing the theft of data during transit. Cost-effective,
simple-to-deploy and easy to manage, Validian solutions facilitate security
audit compliance. A U.S. corporation, Validian has offices in the U.S,
Canada and Switzerland.
For more information about Validian Corporation, visit www.validian.com.
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contains "forward-looking statements," which can be identified by the use
of forward-looking terminology such as "believes," "expects," "may,"
"should," or "anticipates" or negative thereof or given that the future
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preceding matters constitute cautionary statements identifying important
factors with respect to such forward-looking statements, including certain
risks and uncertainties that could cause actual results to vary materially
from the future statements. Other factors could also cause actual results
to vary materially from the future results covered in such forward-looking
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