SOURCE: Cytiva Software Inc.

April 17, 2007 14:30 ET

Cytiva Software Inc. to Renew Normal Course Issuer Bid

VANCOUVER, BC -- (MARKET WIRE) -- April 17, 2007 -- Cytiva Software Inc. (TSX-V: CRX), a leading provider of recruiting software solutions, announced today that it has received approval from the TSX Venture Exchange (the "Exchange") to renew its normal course issuer bid for up to 600,000 common shares of the Company, being 3.3% of the Company's issued and outstanding shares. The bid will commence on April 20, 2007 and will continue until the earlier of April 18, 2008 and the date by which the Company has acquired the maximum 600,000 shares which may be purchased under the bid. Purchases will be made through the facilities of the Exchange only, in accordance with the requirements of the Exchange, and the price at which the Company will purchase its shares will be the market price of the shares at the time of acquisition. The Company has appointed Canaccord Capital Corp. as its broker to conduct normal course issuer bid transactions.

The Company has 18,127,502 common shares issued and outstanding. Common shares purchased by the Company will be returned to treasury for cancellation.

"Our Board of Directors continues to believe that the current market price of our shares does not fully reflect the value of our business and our future prospects," said Jason Moreau, the President and CEO of the Company. "Accordingly, the Board of Directors believes that having the Company renew its normal course issuer bid to allow the Company to purchase its own shares for cancellation is an appropriate strategy for increasing long term shareholder value."

About Cytiva Software Inc.

Cytiva Software Inc. (TSX-V: CRX) provides innovative recruiting products and services to mid sized and Fortune 500 companies. With its flagship product, SonicRecruit, corporations can automate their recruiting departments and customize their corporate career sites. SonicRecruit, a premier applicant tracking system, improves recruiting effectiveness speeding up the hiring process and reducing cost per hire. For more information visit www.sonicrecruit.com.

Contact Information

  • CONTACT:

    Ian Alexander
    Email Contact
    510-984-1986

    4089 Emery Street
    Emeryville, CA 94608
    Press (510) 984-1986
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