SOURCE: Visiphor Corporation

November 25, 2008 16:56 ET

Visiphor Receives Demand for Payment

VANCOUVER, BC--(Marketwire - November 25, 2008) - Visiphor Corporation ("Visiphor") (OTCBB: VISRF) (TSX-V: VIS) (XETRA: IGYA) announced that it has received demands for payment and notices of intention to enforce security from Quorum Secured Equity Trust and Quorum Investment Pool Limited Partnership (collectively "Quorum"). After a period of 10 days Quorum will be in a position to take steps to enforce their security against the assets of Visiphor and its subsidiaries. The Company and Quorum are negotiating a possible standstill agreement in which Quorum will hold off on exercising any rights during the standstill period.

Also Ms. Wanda Dorosz and Mr. Michael Goffin have resigned as directors of the Company.

About Visiphor

Visiphor software products and services deliver practical, rapidly deployable solutions that integrate business processes and databases. The Company's solutions focus on disparate process and data management problems that exist in numerous verticals spanning government, energy, law enforcement, security, health care and financial services. Using industry standard Web Services and Service Oriented Architecture ("SOA"), Visiphor delivers a secure and economical approach to true, real-time application interoperability.

Visiphor is a Microsoft Gold Certified Partner. For information about Visiphor or the Company's products and services, please visit www.visiphor.com.

ON BEHALF OF THE BOARD OF DIRECTORS
"Oliver 'Buck' Revell"
Chairman, Visiphor Corporation

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

Forward Looking Statements: This press release may contain statements that constitute "forward-looking statements" within the meaning of applicable Canadian and United States securities laws. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include the risks and uncertainties described in Visiphor Corporation's Form 10-KSB filed with the United States Securities and Exchange Commission. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Investor and Media Inquiries:
    Roy Trivett
    CEO
    Visiphor Corporation
    Phone: +1-604-684-2449 Ext. 234
    E-mail: Email Contact