Serenic Corporation
TSX VENTURE : SER

Serenic Corporation

February 11, 2010 08:32 ET

Serenic Engages PwC Corporate Finance to Explore Strategic Opportunities

EDMONTON, ALBERTA--(Marketwire - Feb. 11, 2010) - Serenic Corporation (the "Company" or "Serenic") (TSX VENTURE:SER), an international software developer specializing in integrated financial management and HCM solutions for Non-Profit organizations, government agencies, and Microsoft Dynamics NAV users, announced today that the Company has retained PricewaterhouseCoopers Corporate Finance Inc. ("PwCCF") to explore various strategic opportunities to maximize stakeholder value including, but not limited to, a capital structure review, strategic partnerships, and/or merger and acquisition ("M&A") alternatives. There is no assurance that the Company will enter into or consummate any specific strategic or financial transaction as a result of this initiative. Serenic does not plan to make any future comments on this process unless or until there are material developments.

This engagement supports the Company's objectives to investigate potential integrations and partnerships with other organizations to better leverage opportunities in current markets and/or to engage in new markets. Investigation of accretive merger and acquisition opportunities and other potential scenarios that might better serve long term objectives will continue to be pursued.

"Serenic has made excellent progress in becoming a recognized leader in both the North American and international niche markets that we serve. However, we believe that now is the appropriate time to explore strategic alternatives that can enhance the value proposition for all of our stakeholders," stated Randy Keith, President and CEO of Serenic. "Essentially, our objective is to identify and pursue strategies that enhance our efficiencies and capability to provide services to our customers, while improving the value propositions for our employees and shareholders," he added.

About PricewaterhouseCoopers Corporate Finance Inc.

PwCCF is a member firm of the worldwide PricewaterhouseCoopers LLP ("PwC") organization. PwCCF has extensive experience in providing advisory services to companies in the areas of corporate finance, mergers and acquisitions, and restructuring. PwCCF, and its network of member firms within PwC, are consistently ranked as one of the top global mid-market corporate finance advisors both in terms of number of transactions and dollar volume. Leveraging PwC's extensive network of corporate finance professionals and clients around the globe, PwCCF has successfully assisted numerous clients in completing domestic and cross-border transactions across a wide variety of industries including technology and its related sub-sectors, as well as consumer and industrial products. For more information, please visit www.pwccf.com.

About Serenic Corporation

Serenic Corporation publishes mission-critical software products for not-for-profits (NFP), educational institutions and governments. The Company's products are based on leading application and technology platforms from Microsoft, including Dynamics NAV, SQL Server, and .NET, and are distributed in North America and internationally through value-added resellers and a direct sales organization. Serenic Corporation is the exclusive developer of human resource management and payroll products for Microsoft Dynamics NAV ERP users in North America. In October, 2009, Serenic was ranked 29th in the Deloitte Technology Canada Fast 50 and 256th in the Deloitte North America Fast 500, the second year in a row it had its name placed on these prestigious lists. Serenic was named the "ISV (Industry Solutions Vendor) Partner of the Year" by Microsoft for North America in 2009 and is a member of Microsoft's President Club and Inner Circle, the latter being an elite group of sixty-seven members representing the top 1% of Microsoft partners world-wide. Serenic has offices in Edmonton, Alberta and Denver, Colorado and staff located throughout the USA and Canada and has a Sales Manager resident in Europe.

ON BEHALF OF THE BOARD OF DIRECTORS

By: "Dwayne Kushniruk"

Chairman

Forward Looking Statements

Certain statements contained in this press release, including statements which may contain words such as "could", "should", "expect", "anticipate", "believe", "will", and similar expressions and statements relating to matters that are not historical facts, are forward looking statements. Such forward looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of Serenic Corporation to be materially different from any future results, performances or achievements expressed or implied by such forward looking statements. Such factors include, but are not limited to, software industry risks, general business risks, foreign currency risks, economic dependence risks, and credit risks.

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

Contact Information

  • Serenic Corporation
    Dwayne Kushniruk
    Chairman
    1-877-426-5385 x 509
    dkushniruk@serenic.com
    or
    Serenic Corporation
    Paul Johnston
    CFO
    1-877-426-5385 x 509
    pjohnston@serenic.com
    or
    Investor Relations
    The Dollarton Group Inc.
    Nick Waddell
    1-877-737-3642 x144
    or
    Investor Relations
    The Dollarton Group Inc.
    Kit Spence
    1-877-737-3642 x144
    ir@serenic.com