redCity Search Company Inc.
TSX VENTURE : RDC

redCity Search Company Inc.

January 25, 2007 19:06 ET

redCity Announces Personnel Changes

TORONTO, ONTARIO--(CCNMatthews - Jan. 25, 2007) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE DISTRIBUTION SERVICES

redCity Search Company Inc. (TSX VENTURE:RDC), a leading Canadian local internet search engine company, announced it has reduced its workforce by approximately 25% in order to consolidate operational costs relating to the August 2006 acquisition of Montreal-based Zip411 Enterprise Inc.

As a result of the consolidation, 28 positions have been eliminated in redCity's Toronto and Montreal offices.

"While regrettable, these employee reductions are necessary in order to achieve cost effectiveness throughout our Company following our recent acquisition," said Elaine Kunda, Chief Executive of redCity. "As we go forward, redCity is positioning its resources to best capitalize on existing and emerging market opportunities."

About redCity Search Company Inc.

redCity Search Company Inc. (www.redcitysearch.com) operates local search engines that allow users to find local businesses quickly and easily across Canada. Its search sites include www.Zip411.net, www.redToronto.com, www.redMississauga.ca and 411Canada.com.

redCity compiles and maintains an up to date database of over 1 million Canadian business establishments that attracts more than 1.4 million unique visitors per month. The Company also supplies branch locator services to the Desjardins Credit Union movement, Laurentian Bank of Canada, the Rona hardware chain and other multi branch Canadian business organizations.

FORWARD-LOOKING STATEMENTS

This news release may contain forward-looking statements based on management's current projections, beliefs and opinions at the date of this news release. Actual results could differ materially from those anticipated in the statements due to risks and uncertainties which affect the Company's business and operations. Reference should be made to the Company's disclosure documents filed from time to time with Canadian securities regulatory authorities for a detailed description of such risks and uncertainties. The Company takes no responsibility to update forward-looking statements if circumstances or management's projections, beliefs or opinions change.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • redCity Search Company Inc.
    Robert Thompson
    Communications and Investor Relations
    (416) 987-2353
    Email: rthompson@redtoronto.com