GLOBEL DIRECT, INC.
TSX VENTURE : GBD

GLOBEL DIRECT, INC.

October 22, 2007 17:23 ET

Globel Direct, inc.: Komunik Advises That It Can Not Proceed With Proposed Globel Plan of Arrangement

CALGARY, ALBERTA--(Marketwire - Oct. 22, 2007) - Globel Direct, inc. ("Globel" or "the Company")(TSX VENTURE:GBD)

Globel announces that Komunik Corporation has advised the Company that it can not proceed with the acquisition of Globel as part of the Company's previously announced Plan of Arrangement involving its creditors. As a result, the Plan of Arrangement Agreement providing for such acquisition has been terminated pursuant to its terms.

The Company is pursuing an alternate Plan of Arrangement.

About Globel Direct:

Globel Direct inc. is a leading provider of business communications solutions that help organizations inform, educate, service and attract customers more effectively and efficiently. The Company's solutions integrate its expertise in out-sourced marketing, billing, customer support and fulfillment with specialized equipment, proven technologies, and a multi-site delivery infrastructure that enables its clients to target the right audience, in the right format, at the right time and at the right price. For more information about Globel Direct visit www.globel.com.

This document contains forward-looking statements. Some forward looking statements may be identified by works like "expects", "anticipates", "plans", "intends", "indicates" or similar expressions. The statements are not a guarantee of future performance and are inherently subject to risks and uncertainties. The Company's actual results could differ materially from those currently anticipated due to a number of factors, including, but not limited to, successful integration of structural changes, including restructuring plans, acquisitions, technical or manufacturing or distribution issues, the competitive environment for the Company's products, the degree of market penetration of the Company's products, and other factors set forth in reports and other documents filed by the Company with Canadian securities regulatory authorities from time to time.

The TSX Venture Exchange has not reviewed and does not accept responsibility for theadequacy or accuracy of this release.

Contact Information

  • Globel Direct, inc.
    J.R. Richardson
    President
    (403) 531-6579 or Toll Free: 1-800-551-5721
    (403) 531-6560 (FAX)
    Email: jr@globel.com
    Website: www.globel.com