Extenway Solutions Inc.
TSX VENTURE : EY

Extenway Solutions Inc.

September 25, 2014 16:31 ET

Extenway Solutions Inc. Releases Financial Statements

Another new contract agreement signed in third quarter

MONTREAL, QUEBEC--(Marketwired - Sept. 25, 2014) - Extenway Solutions Inc. ("Extenway") (TSX VENTURE:EY) has released its financial statements for the third quarter ended July 31, 2014, together with its management discussion and analysis (MD&A). Both documents are available online at www.sedar.com.

During this period, Extenway posted $472,969 in sales, with net losses of $1,295,107, compared to sales of $92,039 and net losses of $1,076,823 for the same period in the previous year.

"During this last quarter, the St. Joseph Health Centre in Toronto acquired our bedside terminals, and we announced a contract with the Hôtel-Dieu d'Arthabaska hospital to install 172 terminals," said president and CEO, John McAllister. "Meanwhile, installation of terminals has been going faster in the various institutions where we already have contracts."

Since July 31, 2014, Extenway has announced the signing of a contract with the Southwest Verdun Health and Social Service Centre for outfitting 205 hospital beds with Extenway terminals. The Company has also announced a distribution agreement in the US with our partner, Flowcorn, and completed installation of a demonstrator unit in Virginia to support its sales efforts in the American market.

In addition, further to the update published on April 23 this year, Extenway wishes to announce the following current developments.

Current tenders

Extenway has submitted offers of service to some 10 hospitals and has responded to a number of calls for tenders in Quebec and Ontario. Tenders outstanding represent a total of 3,000 beds. Supplier selections are expected in the months ahead.

Future tenders

Our company plans to respond to tenders, representing potentially another 8,000 beds, in the coming months.

About Extenway Solutions

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

  • Marie-Helene d'Entremont
    Zone franche
    514-317-5715, extension 204
    mhdentremont@zonefranche.ca

    John McAllister
    President and CEO
    Extenway
    514-694-1916