February 20, 2008 08:30 ET

Prosys Announces an Option to Increase its Participation in Peak Positioning Corporation

MONTREAL, QUEBEC--(Marketwire - Feb. 20, 2008) - Prosys-Tech Corporation (TSX VENTURE:POZ) ("Prosys"), is pleased to announce that it has an option to subscribe to additional common shares in the capital of Peak Positioning Corporation ("Peak") in which it already holds an important position in the shareholding. This option is up to a maximum of 50.1% of the issued and outstanding common shares of Peak at an exercise price of $ 0.75 per common share. This option enabling Prosys to become the majority shareholder of Peak is valid until January 24, 2010.

"The investment in Peak enables it to pursue the development and commercialization of its wireless laptop computer security modules and asset recovery services. Moreover, it enables Prosys to offer efficient wireless laptop computer security and asset recovery services to its clients" declared Mr. Georges Hebert, President and Chief Executive Officer of Prosys.

About Peak

Peak, a Montreal based start-up company, has partnered with global leaders in the field of wireless communications to develop a portfolio of wireless security and asset recovery services for the laptop computer industry. The services will include using wireless communications to disable and retrieve lost or stolen laptop computers.

About Prosys

Prosys is a computer manufacturer and distributor of information technology products having offices in Montreal, Québec, Ottawa, St-John's and Vancouver. Through its subsidiary CDMS, Prosys also offers a wide range of products, including 24/7 multilingual technical service desk, network operations and monitoring, managed services, IT consulting and a host of value add hardware solutions. The vast customer base of Prosys is divided among various market niches. Prosys' main clients are the Governments of Canada and Quebec, crown corporations, universities, school boards and CEGEPs throughout the province of Quebec. The investment in Peak is in the scope of the Corporation's steps to diversify the global offer of services to its current customers and to improve Prosys' positioning for the development of the SMB market.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.

Contact Information

  • Prosys Tech Corporation
    Mr. Georges Hebert
    President and Chief Executive Officer
    514-255-3454, extension 270