Brainhunter Inc.

Brainhunter Inc.

March 16, 2007 16:40 ET

Brainhunter Delivers Corrective Insert to Management Information Circular

TORONTO, ONTARIO--(CCNMatthews - March 16, 2007) -


Brainhunter Inc. ("Brainhunter" or the "Corporation") (TSX:BH) announced today that the Management Information Circular (the "Circular") dated February 22, 2007 prepared in connection with its annual shareholders' meeting (the "Annual Meeting") to be held on March 28, 2007 contained a misstatement.

The shareholding of Mr. Bhaktraj Singh, one of the nominees standing for election as a director of the Corporation, was misstated as "875,000", when in fact Mr. Singh beneficially owned, as at the date of the Circular, "1,129,917" common shares in the Corporation. The number stated in the Circular failed to include the 254,917 common shares that Mr. Singh obtained when he converted 254,917 series A preferred shares of the Corporation into common shares.

The Corporation has prepared a corrective insert and has arranged to have such insert delivered to all shareholders who were mailed the Circular and accompanying Annual Meeting documents. The corrective insert has also been filed on SEDAR.


Brainhunter is an ISO 9001:2000 Certified "Technology Driven Staffing Procurement Services and Solutions" company. Brainhunter's business is focused on using the Brainhunter Human Capital Management Platform to provide fully integrated end-to-end recruiting and staffing services and solutions in the following market sectors: Information Technology, Engineering, Industrial and Health Care.

These services are provided to customers throughout Canada, the United States and globally under the brand Brainhunter. Brainhunter's multifaceted revenue stream is in seven related practice areas including:

Contract Staffing (Annuity Revenue), Permanent Staffing (Transaction Fees / Retainers), Specialized Job Boards (Posting Fees / Subscriptions), Technology Sales (Licenses / Services), Professional Services / Solutions Delivery (Project Revenue), Business Process Outsourcing ("BPO") Centre (Annuity Revenue), Infrastructure Services (Annuity Revenue)

Brainhunter's Technology Platform and Best practices strive to deliver the most cost effective and flexible recruiting and staffing solutions in the marketplace today. Brainhunter offers solutions that are modular in nature and are customizable to suit both small and large scale business processes. Brainhunter's customer base includes over 200 of North America's leading corporation's plus over 30 federal and provincial government departments. Brainhunter's Job Seeker Database currently holds over 1.2 million professional resumes and is one of the largest active databases for professional staffing in North America.

Brainhunter is a publicly traded company with a senior listing on the Toronto Stock Exchange (TSX:BH). Brainhunter deploys over 1,600 Contractors / Consultants with an internal staff of over 200 personnel. The Company has delivery capability in Toronto, Ottawa, Maritimes, Montreal, Calgary, Edmonton, Vancouver, activities in Dalian China, a BPO office in Hyderabad, India and delivery capability in select US jurisdictions.

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

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