TORONTO, ONTARIO--(Marketwire - Jan. 21, 2013) -
NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION TO U.S. NEWS WIRE SERVICES
Further to its update of January 4, 2013, The Futura Loyalty Group Inc. (TSX VENTURE:FUT) ("Futura") announces that it is continuing to negotiate with two parties with the intent of completing one or more transactions and has applied and received approval from the court to extend its stay period under the CCAA to January 31, 2013. Previously the court had granted the Company a stay period to and including January 18, 2013. If it appears that it will not be feasible to complete the transaction or transactions contemplated by January 31, 2013, then Futura will likely seek a further extension of its CCAA protection.
About The Futura Loyalty Group Inc.
The Futura Loyalty Group Inc. is an industry-leading provider of integrated and stand-alone loyalty solutions for Canadian and American businesses. Futura offers a comprehensive suite of loyalty products and services including access to Aeroplan in Canada and four top frequent flyer programs in the United States. Futura also develops custom programs for companies wishing to develop proprietary loyalty solutions. Futura's loyalty services include member account set up, management and reward redemption platform, a web-based program transaction reporting interface for merchants, a robust offer management system, retail POS Integration for card swipe issuance, loyalty analytics and a proprietary web based reward issuance solution. For more information regarding Futura, visit www.tflg.ca or www.futuraloyaltygroup.com.
Futura currently has five directors, being Ted Dzialowski, David Beutel, David Campbell, Mark Farrell and Terry Rumsey. Equity Financial Trust Company is the registrar and transfer agent for the common shares of Futura.
This news release includes certain forward-looking information that is based upon current expectations, which involve, among other things, risks and uncertainties associated with Futura's business and the restructuring process. Forward-looking information in this news release includes, among others, statements with respect to the timing and continuance of CCAA protection, the restructuring process and potential opportunities for the restructured business. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking information, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "will", "may", "should", "could", and similar expressions to the extent they relate to Futura or its management. The forward looking information is not historical fact, but reflects Futura's current expectations regarding future results or events. Forward-looking information is subject to a number of risks, uncertainties and assumptions that may cause the actual results of Futura to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Futura. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in general economic and market conditions; the uncertainty involved in court proceedings; changes to regulations affecting Futura's activities; the level of merchant participation in Futura's programs; uncertainties relating to the availability and costs of financing needed in the future; the ongoing operation of Futura's business and other factors, including without limitation, those listed under "Economic Dependence" and "Risks and Uncertainties" in Futura's MD&A for the three and twelve month periods ended December 31, 2011.
Neither the 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.