SportsClick Inc.
TSX VENTURE : SCV

SportsClick Inc.

July 14, 2009 09:53 ET

SportsClick Inc. Receives Demand for Repayment of Credit Facilities

HALIFAX, NOVA SCOTIA--(Marketwire - July 14, 2009) - SPORTSCLICK INC., (TSX VENTURE:SCV) ("SportsClick") listed on the TSX Venture Exchange Inc. under the trading symbol "SCV" announces that the company's primary lender, Bank of Montreal, has made demand on the company and its subsidiaries for repayment of its credit facilities in the aggregate present amount of $872,000. The demand is due to short term payment defaults on behalf of SportsClick occurring over the preceding quarter.

Management of SportsClick is working with BMO along with its other potential funding sources in order to repay the facilities. If the company is unable to satisfy the repayment requirement or enter into adequate forbearance proceedings, the company may be forced to seek creditor protection or voluntary receivership in order to resolve the demand.

Mr. Jack Ross, President of SportsClick commented "Although the company is entering its most profitable quarters and is proceeding confidently with its business plan, we are taking this threat to our going concern status very seriously. The short term cash flow issues have been created by our expedited expansion the historically slow first quarter and management is confident that we will, through the sale of assets or alternative lending partners, be successful in resolving the issue quickly."

Information about SportsClick Inc.

SportsClick is a leading wholesaler of licensed, authentic sports merchandise and apparel across Canada. Its distribution network includes both independent and leading retailers including Ultramar and Petro-Canada convenience Stores, Husky Markets, Loblaws, London Drugs and Calgary Co-Op stores. The company is committed to expansion through strategic acquisitions of leading businesses in the specialty apparel and promotional merchandising sectors. Copies of SportsClick's documents may be obtained electronically from the SEDAR system at www.sedar.com or on the SportsClick's website www.sportsclick.ca.

Certain statements contained in this document are "forward-looking statements". The projections, estimates and beliefs contained in such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results or events to differ materially from those anticipated in any forward-looking statements. SportsClick believes the expectations reflected in those forward-looking statements are reasonable; however SportsClick cannot provide any assurance that these expectations will prove to be correct.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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