GuestLogix Inc.

GuestLogix Inc.

November 12, 2009 11:40 ET

GuestLogix Completes C$7.2 Million Bought Deal Offering

TORONTO, ONTARIO--(Marketwire - Nov. 12, 2009) -


GuestLogix Inc. (TSX VENTURE:GXI) ("GuestLogix" or the "Company") is pleased to announce that it has completed its bought deal offering (the "Offering") of 6,000,000 common shares (the "Common Shares") at a price of C$1.20 per Common Share for total gross proceeds of C$7.2 million. The Offering, previously announced on October 21, 2009, was completed pursuant to an underwriting agreement dated October 26, 2009, between the Company and a syndicate of underwriters (collectively, the "Underwriters") led by Canaccord Adams and Paradigm Capital Inc. and including Northern Securities Inc. and Versant Partners Inc. and pursuant to a final short form prospectus dated November 6, 2009.

The Underwriters have been granted an option (the "Over-allotment Option") to sell up to an additional number of Common Shares equal to the lesser of the over-allocation position and 15% of the size of the Common Share Offering, at the same offering price, for market stabilization and over-allotment purposes. The Over-allotment Option may be exercised at any time, in whole or in part, until that date which is 30 days following the November 12, 2009 closing date.

Proceeds of the offering will be used by the Company to fund the continued deployment of handheld devices to its airline and rail customers, to repay existing indebtedness if the Company secures debt financing prior to the end of the first fiscal quarter of 2010 at a lower cost than its existing indebtedness, and to fund working capital requirements associated with accelerating sales and increased market penetration.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About GuestLogix
GuestLogix is the leading provider of onboard retail technology and solutions to the passenger travel industry. Through its industry standard onboard transaction processing engine, the Company provides carriers the tools to become successful onboard retailers, and by way of its OnTouch™ merchandising platform, it facilitates innovative products and services to enhance passenger experience and propel ancillary revenue growth. With a customer base comprising nine of the top 11 global airlines, GuestLogix maintains contracts to serve more than 35 per cent of the world airline passenger traffic via its proprietary platform based on the 2008 passenger data compiled by Air Transport Intelligence (ATI). To date in 2009, GuestLogix has been named one of Canada's Top 100 fastest growing companies by Profit Magazine, one of Canada's Top 100 technology companies according to Canadian Business Magazine, and the Company ranked as one of Deloitte's 50 fastest growing Canadian technology companies. Additional information on GuestLogix can be found at and

© 2009 GuestLogix. All Rights Reserved. All other trademarks and trade names are the property of their respective owners.

Forward-Looking Statements
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with GuestLogix' business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect GuestLogix' current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in GuestLogix' Management's Discussion and Analysis of Financial Condition and Results of Operations filed on October 15, 2009 with the regulatory authorities. GuestLogix assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

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.

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