GuestLogix Inc.
TSX : GXI

GuestLogix Inc.

January 19, 2016 17:00 ET

GuestLogix Provides Corporate Update

TORONTO, ONTARIO--(Marketwired - Jan. 19, 2016) - GuestLogix Inc. ("GuestLogix" or the "Company") (TSX:GXI), the leading global provider of ancillary-focused merchandising, payment and business intelligence technology to airlines and the passenger travel industry, has released an update regarding its previously disclosed forbearance agreements. The Company continues to have discussions with its senior lender and subordinated lenders (collectively, the "Lenders") which had agreed to forbear from taking any steps to demand repayment of the amounts owning under the Company's US$7.5 million senior revolving credit facility and CDN$9 million subordinated term credit facility (collectively, the "Credit Facilities) under agreements that expired on December 31, 2015.

The discussions with the Lenders continues to run concurrently with the previously disclosed review of strategic alternatives to enhance shareholder value, which is being carried out by GuestLogix' financial advisor, Canaccord Genuity. The Company has been advised that the Lenders will not seek to enforce any of their rights in respect of the Credit Facilities at this time.

The Company continues to be in default of its interest payment obligations under the trust indenture governing the Company's 7.00% extendible convertible unsecured subordinated debentures as interest payments due on December 31, 2015 have not been paid and the grace period provided for in the indenture has expired.

About GuestLogix

GuestLogix Inc. (TSX:GXI), is a global leader in comprehensive merchandising, payment and business intelligence technology delivered to the passenger travel industry, both onboard and off-board. Bringing over a decade of expertise as the industry's most trusted onboard transaction processing partner to airlines, rail operators and elsewhere in the passenger travel industry, GuestLogix powers the industry's growing reliance on ancillary revenue generation. Both direct to operators as well as through partnerships with global leaders in catering, duty-free, inflight entertainment and self-service retail experts, the Company provides the payment services touching over 1 billion travelling consumers each year. On December 23, 2014, GuestLogix announced the acquisition of OpenJaw Technologies, a Dublin-based technology company focused on travel retailing innovation in the e-commerce segment. GuestLogix' global headquarters and centre for product innovation is located in Toronto, with regional offices located in Dallas, London, Dublin, Galway, Madrid and Hong Kong, and product innovation labs located in Moncton and Kraków. More information is available at www.guestlogix.com and www.openjawtech.com.

© 2016 GuestLogix. All Rights Reserved.

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 "Risk Factors" in the Company's Annual Information Form filed on March 16, 2015 with the regulatory authorities in Canada. 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.

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