Poynt Corporation
TSX VENTURE : PYN

Poynt Corporation

March 29, 2011 08:46 ET

Poynt Corporation Schedules Closing of Private Placement for March 31, 2011

CALGARY, ALBERTA--(Marketwire - March 29, 2011) -

//NOT FOR DISSEMINATION IN THE UNITED STATES //

Poynt Corporation ("Poynt Corp." or the "Company") (TSX VENTURE:PYN), a leading provider of mobile local search services, announces an update to the previously announced agency private placement of up to 78,947,368 special warrants ("Special Warrants") of the Company at a price of $0.19 per Special Warrant for gross proceeds of approximately $15 million (the "Offering"). The Offering is expected to close on or about Thursday March 31, 2011.

This press release shall not constitute an offer for sale of the securities in the United States. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an exemption from those registration requirements.

About Poynt Corporation

Poynt Corp. (about.poynt.com) is a global leader in the mobile local advertising space. Their Location Based Search application, Poynt (www.poynt.com), enhances the consumers' ability to connect with the people, businesses and events most important to them. Poynt is available on BlackBerry smartphones, iPhone and iPod Touch, Android, Windows Phone 7 and Nokia QT devices in Canada, the United States, Europe and Australia. Poynt Corp. entered the mobile publishing space with the recent acquisition of an advertising publishing platform. Key contracts on both the supply and demand sides are in place to provide inventory into the platform and publishers to display the inventory. Whether through the Poynt Local Search App or the Ad Publishing Platform, Poynt Corp. simplifies connecting consumers with businesses, retailers and events. Headquartered in Calgary, AB, Canada, Poynt Corp. trades on the TSX Venture Exchange under the symbol PYN.

Forward Looking Statement

This news release contains forward-looking statements relating to the Offering and other statements that are not historical facts, including statements regarding the expected closing date of the Offering. Such forward-looking statements are subject to important risks, uncertainties and assumptions. The results or events predicated in these forward-looking statements may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on these forward-looking statements.

These forward-looking statements are based on certain key assumptions regarding, among other things: state of the economy in general and capital markets in particular, investor interest in the Company's business and future prospects, the timing of obtaining and receipt of all necessary regulatory approvals and satisfying closing conditions. Material risk factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to: the risk that closing of the Offering could be delayed if the Company is not able to obtain the necessary regulatory and stock exchange approvals on the timelines it has planned; the risk that the Offering will not be completed at all if these approvals are not obtained or some other condition to the closing is not satisfied; the risk that the intended use of the net proceeds of the Offering by the Company might change if the board of directors of the Company determines that it would be in the best interests of the Company to deploy the proceeds for some other purpose; risks that the marketing efforts will not result in the anticipated proceeds; the deteriorating economic and market conditions that could lead to reduced spending on information technology products; competition in our target markets; potential capital needs; management of future growth and expansion; the development, implementation and execution of the Company's strategic vision; risk of third-party claims of infringement; protection of proprietary information; customer acceptance of the Company's existing and newly introduced products and fee structures; and the success of the Company's brand development efforts; risks associated with strategic alliances; reliance on distribution channels; product concentration; need to develop new and enhanced products; potential product defects; our ability to hire and retain qualified employees and key management personnel; and risks associated with changes in domestic and international market conditions and the entry into and development of new for the Company's products.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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.

Contact Information

  • Financial Communications Contact:
    Trilogy Capital Partners
    Darren Minton, President
    Toll-free: 800-592-6067
    info(at)trilogy-capital.com
    or
    Poynt Corporation
    Andrew Osis
    President & CEO
    403-313-3719
    http://about.poynt.com