RepeatSeat Ltd.
TSX VENTURE : RPS

RepeatSeat Ltd.

May 15, 2009 14:10 ET

RepeatSeat Announces Resignation of Two Board Members and Interim Receiver Appointment for Janda Products Asset Sale

CALGARY, ALBERTA--(Marketwire - May 15, 2009) - RepeatSeat Ltd. (TSX VENTURE:RPS) wishes to announces the resignation of board members Max Fantuz and Alykhan Mamdami. The company wishes to thank Mr. Fantuz and Mr. Mamdami for their contributions.

The company also wants to announce that as per the terms of the April 16, 2009 forbearance agreement respecting the convertible debenture dated June 18, 2007 with Knightsbridge Capital Partners Inc. and Roynat Inc. (the Lenders), A. Farber & Partners Inc. has been appointed as interim receiver to sell the assets of Janda Products Canada Limited.

About RepeatSeat:

RepeatSeat is a leading interactive entertainment services company, offering private label ticketing throughout North America. RepeatSeat's innovative Ticket Relationship Management (TRMTM) solutions provide a proprietary portfolio of products to sporting and live event venues, tour and excursion companies, ski hills and movie theatres. All point of sale, Internet and mobile solutions feature full end-user data capture and management. For more information on RepeatSeat, visit www.repeatseat.com.

For RepeatSeat investor relations needs, investors are asked to visit the RepeatSeat Investor Relations website at http://www.agoracom.com/ir/repeatseat where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to rps@agoracom.com where they can also request their addition to the investor e-mail list to receive all future press releases and updates in real time.

Advisory Regarding Forward-Looking Statements:

Certain information with respect to the Company contained herein contains forward-looking statements. These forward-looking statements are based on assumptions and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including, but not limited to, the impact of general economic conditions, industry conditions, stock market volatility and ability to access sufficient financing. As a result, the Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur. In addition, the reader is cautioned that historical results are not necessarily indicative of future performance.

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

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