Extenway Solutions Inc.

Extenway Solutions Inc.

September 18, 2013 10:47 ET

Extenway Completes a Private Placement of Debentures

MONTREAL, QUEBEC--(Marketwired - Sept. 18, 2013) - Extenway Solutions Inc. ("Extenway") (TSX VENTURE:EY) is pleased to announce the closing as of September 17, 2013 (the "Closing Date") of a private placement of convertible debentures (the "Debentures") in an aggregate principal amount of $200,000 (the "Offering"), issued pursuant to exemptions under Regulation 45-106 respecting prospectus and registration exemptions.

The Debentures are unsecured, will mature on August 31, 2017, bear an annual compounded interest rate of 12% and are convertible into common shares of Extenway (the "Common Shares") at a conversion price of $0.13 if the conversion is effected no later than at 5:00 pm on April 29, 2016 or $0.17 if the conversion is effected thereafter, subject to customary adjustment provisions. The Debentures and all underlying Common Shares are subject to a four-month plus one-day hold period from the Closing Date, expiring on January 18, 2014, pursuant to securities legislation and the policies of the TSX Venture Exchange.

The proceeds of the Offering will be used for working capital purposes. Extenway may complete subsequent tranches under this private placement of Debentures.

IRR Capital Inc., an exempt market dealer, acted as finder for the Offering and received a cash commission of $10,000.

The Debentures and all underlying Common Shares offered pursuant to the Offering have not been nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States or to an account for the benefit of US persons, absent such registration or an exemption from registration.

New Entertainment Systems in the Lanaudière and Laurentides Hospitals

Patients hospitalized at the Lanaudière Regional Hospital Centre will soon enjoy digital entertainment thanks to Extenway's bedside terminals. In November, the installation of the 254 bedside terminals should be completed in this hospital. The contract also includes the installation and management of 650 additional multimedia terminals at the Pierre-Le Gardeur Hospital and the Saint-Jérôme Regional Hospital. These terminals will be put into operation in the coming months.

About Extenway Solutions Inc.

Extenway is a supplier of client-focused solutions for the healthcare industry. Services offered by Extenway include interactive television, beside terminals for patients, internet, entertainment, content integration, advertising, education and integrated solutions. Extenway allows organizations to optimize management and coordination of human interactions as well as communications, information and coordination. For further information, please visit www.extenway.com or follow us on Twitter @Extenway.

Disclaimer - Safe Harbour Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking statements. These forward-looking statements relate to the future financial conditions, results of operations or business of Extenway. These statements may be current expectations and estimates about the markets in which Extenway operates and management's beliefs and assumptions regarding these markets. These statements are subject to important risks and uncertainties which are difficult to predict and assumptions which may prove to be inaccurate. The results or events predicted in forward-looking statements may differ materially from actual results or events. Extenway disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. In particular, forward-looking statements do not reflect the potential impact of any merger, acquisitions or other business combinations or divestitures that may be announced or completed after such statements are made.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • John McAllister
    President and CEO
    Extenway Solutions Inc.

    Marie-Helene d'Entremont
    Zone franche
    514-371-5715, ext. 204