Synergex Corporation

Synergex Corporation

July 14, 2009 08:02 ET

Synergex Acquires BrainWorks Entertainment

MISSISSAUGA, ONTARIO--(Marketwire - July 14, 2009) - Synergex Corporation (TSX:SYX) ("Synergex") or (the "Company") announced that it has entered into an agreement to acquire the licensing, production, and distribution business as well as the video and music product pipeline of BrainWorks Entertainment ("BrainWorks"). BrainWorks' manufacturing, content licensing, and distribution business in Canada will continue under Synergex' wholly owned subsidiary Synergex Media Entertainment Inc. ("SYXME").

SYXME will strategically focus on the acquisition, production, and localization of DVD and music content for physical and digital distribution in Canada, the United States, Brazil, Mexico, Colombia, Chile, and Argentina, and for sub-licensing in other markets.

The BrainWorks brand is well established across Canada, particularly in the Quebec market, providing French language fitness-focused content for the francophone community. SYXME will expand and enhance the framework established by BrainWorks beyond its historic base.

Glenn Moss, former President of BrainWorks and newly-appointed Vice-President of SYXME will develop and produce exclusive content programs for traditional and non-traditional markets. He has an extensive career of over 20 years in the entertainment and home entertainment industries, specializing in content acquisition, production, marketing, media buying, and sales.

"I'm elated being part of the Synergex team and I look forward to growing BrainWorks' internationally," Moss said.

"BrainWorks builds on our initiatives with World Wrestling Entertainment and Gaiam through the sales, marketing and distribution of new content which we will acquire or produce, but the bottom line is it will be our content to monetize. BrainWorks generates more opportunities to acquire both audio and video content rights through production and licensing which we will leverage into both physical and digital distribution as we expand our business into the United States and into markets further south," said David Aiello, President & Chief Executive Officer of Synergex.

About Synergex Corporation

Synergex is a premier international service provider of comprehensive supply chain management services in 6 countries across the Americas, specializing in distribution, licensing, sales, localization, packaging and marketing of digital entertainment products. Headquartered in Mississauga, Ontario, with operations across North, Central and South America, Synergex serves a broad base of customers that includes a number of multinational enterprises. Synergex is listed on the Toronto Stock Exchange and trades under the symbol SYX. For further information, please visit

About BrainWorks Entertainment

BrainWorks Entertainment produces and acquires video and music content and executes focused marketing strategies with traditional and non-traditional retailers and digital partners. BrainWorks Entertainment also works with various 3rd party companies to produce exclusive content for promotions and premiums which drive consumer loyalty and awareness.

Forward-Looking Statements

This press release contains "forward-looking statements" and "forward-looking information" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the timing and amount of estimated future expansion and costs of expansion. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "plan", "continue", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All forward-looking statements are based on our beliefs and assumptions based on information available at the time the assumption was made. While Synergex considers its assumptions to be reasonable and appropriate based on the current information available, there is a risk that they may not be accurate. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Synergex to be materially different from those expressed or implied by such forward-looking statements, including but not limited to risks related to the integration of acquisitions, as well as those factors discussed in the section entitled "Risk Factors" Synergex' 2008 Annual MD&A. Before making any investment decisions and for a detailed discussions of the risks, uncertainties and environment associated with our business, fully review the section entitled "Risk Factors" Synergex' 2008 Annual MD&A. Although Synergex has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Synergex does not undertake to update any forward-looking statements that are incorporated by reference herein, except as required by law.

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