Call Genie Inc.

Call Genie Inc.

April 17, 2007 11:17 ET

Call Genie Completes $10 Million Bought Deal Financing

CALGARY, ALBERTA--(CCNMatthews - April 17, 2007) - Call Genie Inc. (TSX VENTURE:GNE) (the "Company") reported today that it has closed its previously announced bought deal financing, which was undertaken through a syndicate of underwriters, co-led by Wellington West Capital Markets Inc. and GMP Securities L.P. and including Raymond James Inc. (collectively, the "Underwriters"). In connection with the financing, a total of 10 million common shares of the Company were sold (by way of private placement), for aggregate gross proceeds of $10,000,000. Under the original Letter Agreement announced on March 26, 2007, the Underwriters agreed to purchase 8,000,000 common shares of the Company from treasury, at a price of $1.00 per common share. On March 29, 2007, the Company reported that the Underwriters' Option granted in the Letter Agreement had been fully exercised in respect of an additional 2,000,000 common shares at the issue price.

"We are very pleased with the closing of this financing," noted Michael Durance, CEO of Call Genie Inc. "Completion of a "bought deal" speaks volumes for the strength of our underwriting group, their confidence in our team at Call Genie and their belief in the prospects of our Enhanced Voice Directory product as we market it internationally."

Proceeds of the Offering are expected be used for the continued development and marketing of the Company's EVD™ (Enhanced Voice Directory) product and for general corporate purposes. Upon completion of the offering, the Underwriters received a $600,000 cash commission (6% of the total gross proceeds raised through the sale of the Common Shares) and broker warrants entitling the holders to acquire up to an aggregate of 600,000 common shares of the Company, at a price of $1.00 per share.

The information set out above respecting the anticipated use of the proceeds of the Offering constitutes forward-looking information. Readers should review the cautionary statement that appears at the end of this News Release.

About Call Genie Inc.

Call Genie, Inc. is a leading provider of enhanced Voice-enabled Mobile Local (VoMoLo) search products and services to Wireless Carriers, Directory Assistance providers, and Yellow Page publishers. Offered as a turnkey or ASP solution, Call Genie's Enhanced Voice Directory (EVD™) platform enables companies to offer a comprehensive, voice-enabled business category search service to consumers and business customers. EVD™ is network, handset and location independent, and can be incorporated into any existing DQ service or deployed as a stand-alone offering.

Call Genie won the 2006 Yellow Page Association Industry Excellence Award for Marketing Innovation in North America, the 2006 Whitaker Innovation Award in Europe, and the 2006 118 Tracker Award for Technology Innovation in the UK.

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Certain statements included in this News Release are not historical facts, but rather are forward-looking statements. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "anticipate" or "will" and similar expressions) may include plans, expectations or opinions that are not statements of fact. Forward-looking statements are based upon the opinions, expectations and estimates of management of Call Genie as at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. These factors include such things as the inherent risks associated with research and development activities and commercialization of emerging technologies, timing of execution of various elements of the Company's business plan, competition from various sources, the emergence of competing technologies, the availability of human resources, the availability of financial resources (including third-party financing), prevailing interest and exchange rates and new laws (domestic or foreign). Forward-looking information respecting the use of the proceeds from the sale of the Common Shares is based upon the current budget and development plans of Call Genie, which are subject to change. Call Genie Inc. does not assume responsibility for the accuracy and completeness of the forward-looking statements set out herein and, subject to applicable securities laws, does not undertake any obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. Call Genie Inc.'s forward-looking statements are expressly qualified in their entirety by this cautionary statement. Additional information relating to various risk factors to which Call Genie is exposed in the conduct of its business (and which may affect the expectations or outcomes reflected in the forward-looking statements contained in this news release) are described in the Company's annual MD&A for the year ended December 31, 2006, which has been filed with certain securities regulatory authorities in Canada and is available through SEDAR, at

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.

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