Extenway Solutions Inc.
TSX VENTURE : EY

Extenway Solutions Inc.

September 11, 2013 16:25 ET

Extenway Concludes a Private Placement of Common Shares

MONTREAL, QUEBEC--(Marketwired - Sept. 11, 2013) - Extenway Solutions Inc. ("Extenway") (TSX VENTURE:EY) is pleased to announce the closing today (the "Closing Date") of a private placement of 3-million common shares at a purchase price of $0.13 (the "Shares") for gross proceeds of $390,000 (the "Offering"). The Shares were issued to investors pursuant to exemptions under Regulation 45-106 respecting prospectus and registration exemptions.

"We are very pleased to have completed this financing," said John McAllister, President and CEO of Extenway, who recently won contracts with hospitals in Quebec and Ontario.

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

IRR Capital Inc., an exempt market dealer, acted as finder for the Offering and received a cash commission of $27,300.

The Shares 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.

Installation in the Gatineau area's hospitals

Extenway is also pleased to announce the completion of the installation of 200 bedside terminals at the Hull Hospital. Patients can now enjoy all the services offered by Extenway. The installation of bedside terminals for the 214 beds at the Gatineau hospital shall be completed within the next month.

Improvement of the financing conditions for the hospitals' equipment

Extenway has favourably renegotiated certain terms of the term loan facility agreement for the installation of equipment in hospitals. The initial agreement was previously announced in a press release on March 22, 2010.

About Extenway Solutions

Extenway Solutions 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

Certain statements that appear in this news release constitute forward-looking statements. These forward-looking statements relate to future financial conditions, results of operations or business of Extenway Solutions Inc. These statements may be current expectations and estimates about the markets in which Extenway Solutions Inc. operates and management's beliefs and assumptions regarding these markets. These statements involve significant 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 Solutions Inc. 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 the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

*All monetary figures in this document are expressed in Canadian dollars (CAD).

Contact Information

  • John McAllister
    President and CEO
    Extenway Solutions Inc.
    514 694-1916

    Marie-Helene d'Entremont
    514-317-5715, ext. 204
    Mhdentremont@zonefranche.ca