Extenway Solutions Inc.

Extenway Solutions Inc.

October 24, 2013 16:21 ET

Extenway Provides Update on Business Progress

MONTREAL, QUEBEC--(Marketwired - Oct. 24, 2013) - Extenway Solutions Inc. ("Extenway") (TSX VENTURE:EY) presented an update of its business progress at its annual and special meeting of shareholders in Montreal this morning.

"We are really proud of the contracts awarded over the last year and more particularly of all the installations demonstrating the multiple functionalities of the Extenway solution. Contracts signed and representing over 2,000 beds shall generate revenue during the financial year ending April 30, 2014 and for the first time, on a full year basis during the financial year ending April 30, 2015." said John McAllister, President and CEO of Extenway.

Installation in the Gatineau area's hospitals

The installation of bedside terminals for the 200 beds of the Hull hospital is completed and the patients of this institution have begun to take advantage of the functionalities supported by the Extenway's solution. The installation of bedside terminals for the 214 beds of the Gatineau hospital shall begin during the month of November.

Installation in the Lanaudière and Laurentides Hospitals

The installation of bedside terminals for the 254 beds of the Lanaudière Regional Hospital Centre (Joliette) is ongoing and the patients of this institution will soon enjoy digital entertainment of the Extenway's bedside terminals. 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. The installation at these institutions shall be done over the forthcoming months.

Installation in the St. Joseph's Health Centre of Toronto

On the Ontario market, Extenway has already completed the installation of bedside terminals for 150 beds of the St. Joseph's Health Centre of Toronto and the patients already enjoy digital entertainment of the Extenway solution. The installation on the additional 184 beds of this institution is ongoing and shall be completed in the month of December.

Grants of Options

Please note that directors and officers of Extenway (Louis Brunel (115,385), Francine Laurent (115,385), Lorne Zakaib (115,385), John McAllister (500,000), Richard Laferrière (150,000), Mario Pelletier (900,000), David Brown (500,000) and Carolyne Lassonde (115,385)) have been granted options allowing them to subscribe common shares of Extenway at a price of subscription of $0,13 per share. The expiry date of these options is October 24, 2018.

Financial reports for the fiscal year ending April 30, 2013 are available online at www.sedar.com.

About Extenway Solutions

Extenway Solutions provides technology solutions to the healthcare sector. Among the services offered by Extenway are interactive televisions, bedside patient terminals, Internet, entertainment, content integration, advertising, education, and integrated solutions. Extenway allows organizations to optimize the way they manage and coordinate interactions in the areas of communications, information and entertainment. For more information, 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.

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

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