Meridex Software Corporation
TSX VENTURE : MSC

Meridex Software Corporation

August 13, 2008 15:33 ET

Meridex Settles Lawsuit With S.D.M. Enterprise Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 13, 2008) - Meridex Software Corporation (TSX VENTURE:MSC), a leading provider of IP security and facilities management software solutions, today announced it has signed a settlement agreement with S.D.M. Enterprise, Inc. Under the agreement Meridex will issue 1 million shares and $15,000 cash in full and final settlement of all outstanding claims against the company including dismissal of its legal action S.D.M. Enterprises, Inc. et al. v. Meridex Software Corporation, et al., Action No. S062409.

Meridex also announced that the TSX has given final approval of the definitive agreement for the sale of its IT network services division to TimeSearch Inc.

Also announced today, Meridex has completed the 2nd tranche closing of a non-brokered private placement, raising $66,900.00 by issuing a total of 557,500 equity units at a price of $0.12. Each unit consists of one share and one non-transferable share purchase warrant, each warrant entitling the holder to purchase one additional common share of Meridex at the exercise price of $0.20 until August 12th, 2009. These securities are subject to a hold period expiring December 13th, 2008.

ABOUT MERIDEX

Meridex Software Corporation is a leading provider of IP security and facilities management software solutions. Meridex enables educational institutions, government, hospitals, retail and corporate enterprises to manage, monitor, and optimize security and facilities management systems. Specializing in highly-integrated building security, camera monitoring, HVAC and lighting controls that operate based on industry standards, Meridex is developing intelligent IP surveillance and business optimization solutions to enable real-time monitoring systems through wireless networks.

(C) 2008 Meridex Software Corporation. Meridex and the Meridex logo are trademarks or registered trademarks of Meridex Software Corporation. All other trademarks are the property of their respective owners.

Forward Looking Statements

This discussion may contain certain forward-looking statements reflecting the Company's current expectations and estimates about the markets in which the Company operates and management's beliefs and assumptions regarding these markets. Investors are cautioned that all forward -looking statements involve risks and uncertainties, including, without limitation, changes in market and competition, technological and competitive developments, potential downturns in general economic conditions, and the potential impact of any mergers, acquisitions or other business combinations or divestitures that may be announced or completed after such statements are made. Additional information on these and other potential factors that could affect the Company's financial results are included in this discussion and in documents filed from time to time with the provincial securities commissions in Canada.

Contact Information

  • Meridex Software Corporation
    Matt Dion
    President and CEO
    (604) 304-0940
    Email: mdion@meridex.com