RepeatSeat Ltd.
TSX VENTURE : RPS

RepeatSeat Ltd.

August 17, 2009 11:47 ET

RepeatSeat Announces Close of Sale of Janda Products Canada Assets and Renewed Focus on Ticket Technology Platforms

CALGARY, ALBERTA--(Marketwire - Aug. 17, 2009) - RepeatSeat Ltd. ("RepeatSeat") (TSX VENTURE:RPS), a North American leader in providing entertainment solutions wishes to announces the close of the sale of the Janda Products Canada Assets. On April 16, 2009 the company entered a forbearance agreement respecting the convertible debenture dated June 18, 2007 with Knightsbridge Capital Partners Inc. and Roynat Inc. (the lenders) whereby A. Farber & Partners Inc. was appointed as interim receiver to sell the assets of Janda Products Canada Limited, the coin op gaming subsidiary of RepeatSeat. The Ontario Superior Court granted the vesting order for the assets of the Janda Products Canada subsidiary on the 5th of June 2009 and an assignment in bankruptcy for Janda Products was made on the 9th of June 2009.

RepeatSeat President and COO Bob Christianson stated that, "RepeatSeat is now focused exclusively on the delivery of technology platforms that provide private label ticketing solutions to the cinema, live event and ski hill industries. The company is now working to build on the success of its on-line movie ticketing system through expansion into the United States and international markets and expanding the reach of its wholly owned subsidiary Comptrol Systems Inc. throughout the North American Ski industry. The recent economic realities have created opportunities for Comptrol because it offers a value-based system that provides exemplary ticketing systems at a reasonable price point. We look forward to providing the value based products these customers are looking for."

About RepeatSeat:

RepeatSeat Ltd. is a leading interactive entertainment services company, offering private label ticketing and arcade gaming throughout North America. RepeatSeat's innovative Ticket Relationship Management (TRM™) solutions provide a proprietary portfolio of products to sporting and live event venues, tour and excursion companies, ski hills and the vast majority of Canada's movie theatres. All solutions feature full end-user data capture and management. For more information on RepeatSeat, visit www.repeatseat.com.

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