Cidel Trust Company Ltd.

March 22, 2007 17:17 ET

Cidel Trust Company Ltd. Announced Control or Direction Over Securities of Texada Software Inc.

TORONTO, ONTARIO--(CCNMatthews - March 22, 2007) - Through a series of transactions beginning from December 20, 2006 and culminating on January 2, 2007 (collectively, the "Transactions"), Cidel Trust Company Ltd. (the "Offeror") as trustee for the Lamb Trust acquired all of the assets of LTF Investment Holdings Inc. ("LTF") and thereby acquired control or direction over $485,000 principal amount of 8% senior secured convertible debentures (the "Debentures") and 4,850,000 warrants (the "Warrants") of Texada Software Inc. (the "Issuer") (TSX VENTURE:TXS). The Debentures and Warrants (collectively, the "Convertible Securities") are convertible or exercisable into an aggregate of 9,700,000 common shares in the capital of the Issuer (the "Common Shares").

As a result of the Transactions, the Offeror, as trustee of the Lamb Trust, now exercises control or direction over the Convertible Securities which are convertible into voting shares of the Issuer totalling 9,700,000 Common Shares (assuming conversion of all its convertible securities), representing 24.63% of the issued and outstanding voting shares of the Issuer (assuming no other securities convertible into voting shares of the Issuer were converted or exercised).

As the trustee of the Lamb Trust, the Offeror exercises control or direction over the Convertible Securities of which the Lamb Trust and the beneficiaries of the Lamb Trust, are the beneficial owners.

The Convertible Securities are held for investment purposes. These investments may be reviewed on a continuing basis and such holdings may be increased or decreased in the future.

The Lamb Trust and the beneficiaries of the Lamb Trust, Steven Lamb and the issue of Steven Lamb, may be considered to be joint actors with the Offeror.

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

Contact Information

  • Cidel Trust Company Ltd. as Trustee of The Lamb Trust
    Cindy Radu
    (403) 697-6962