Calian Technologies Ltd.
TSX : CTY

Calian Technologies Ltd.

March 29, 2016 08:42 ET

Calian Provides an Update on Name Change

OTTAWA, ONTARIO--(Marketwired - March 29, 2016) - Calian Technologies Ltd. (TSX:CTY) announces that at its most recent Annual General and Special Meeting, the shareholders of Calian Technologies Ltd. (Calian" or the "Company") voted in favour of changing the Company's name to Calian Group Ltd. (the "Name Change") to better reflect the diversity of its services in light of the expansion into areas such as healthcare and training. The Toronto Stock Exchange (the "TSX") has also approved the Name Change and the change to the Company's ticker symbol to "CGY", subject to customary conditions. Today, the Company pre-filed articles of amendment with Industry Canada to effect the Name Change on April 1, 2016.

"Our name change to Calian Group Ltd. reflects management's belief that embracing our diverse services provides long term stability and as well a solid foundation for continued growth of the company" stated Kevin Ford, President and CEO. "Although we still have deep technology roots, I believed the timing was right to align our corporate entity to our diversification strategy", stated Ford.

All materials necessary to effect the Name Change are expected be filed with the TSX on April 1, 2016 and, subject to TSX final approval, it is expected that the Company's Common Shares (the "Common Shares") will commence trading on the TSX under the new name and "CGY" trading symbol on or about April 5, 2016. No action is required to be taken by Calian shareholders in connection with the Name Change.

About Calian

Calian employs over 2,500 people with offices and projects that span Canada, U.S. and international markets. The company's capabilities are diverse with services delivered through two divisions. The Business and Technology Services (BTS) Division is located in Ottawa and includes the provision of business and technology services to industry, public and government in the health, training, engineering and IT services domains. Calian's Systems Engineering Division (SED) located in Saskatoon plans, designs and implements complex communication systems for many of the world's space agencies and leading satellite manufacturers and operators. SED also provides contract manufacturing services for both private sector and military customers in North America.

For further information, please visit our website at www.calian.com, or contact us at ir@calian.com

FORWARD-LOOKING STATEMENT DISCLAIMER

Except for historical information described in this press release, all other statements are forward-looking. In particular, this press release contains, without limitation, forward-looking statements pertaining to the expected date of the Name Change and the expected date upon which the Common Shares will begin trading on the TSX under the new name and symbol. With respect to forward-looking statements contained in this press release, we have made assumptions regarding various matters. Although we believe that the expectations reflected in the forward-looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, we cannot assure you that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this press release, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. Forward-looking statements are subject to certain risks and uncertainties inherent in the Company's business that could cause actual results to vary including, among other things: the impact of price competition; the dependence on new product development; the impact of rapid technological and market change; the ability of Calian to integrate the operations and technologies of acquired businesses in an effective manner; general industry and market conditions and growth rates; international growth and global economic conditions, particularly in emerging markets, and including interest rate and currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company's most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.

Contact Information

  • Calian Technologies Ltd.
    Kevin Ford, President and Chief Executive Officer, or
    Jacqueline Gauthier, Chief Financial Officer
    613-599-8600
    613-599-8650 (FAX)
    ir@calian.com
    www.calian.com