Sawhill Capital Ltd.
TSX VENTURE : SWW

June 16, 2008 16:27 ET

Sawhill Capital Ltd. Provides Update on Commencement of Trading

CALGARY, ALBERTA--(Marketwire - June 16, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

On June 13, 2008 Sawhill Capital Ltd. ("Sawhill" or the "Company") (TSX VENTURE:SWW.P) announced that it had filed a filing statement (the "Filing Statement") with the TSX Venture Exchange ("TSXV") with respect to its proposed acquisition of all the issued and outstanding shares of SatFax Networks Inc. (the "Acquisition"). In connection with filing the Filing Statement, Sawhill announced that it expected that its common shares would begin trading again on the TSXV today. However, as a result of further communication with the TSXV Sawhill now expects that trading will not commence until after the Acquisition is completed and the TSXV issues a final bulletin approving the Acquisition as the Company's "qualifying transaction" pursuant to TSXV policies. Sawhill has received the conditional approval of the TSXV for the Acquisition. Trading of the common shares of Sawhill was halted in connection with the entering into of the original letter agreement with respect to the proposed Acquisition.

Cautionary Statements

This news release contains "forward-looking statements" within the meaning of applicable securities laws relating to the proposal to complete the Acquisition, including statements regarding the terms and conditions of the proposed transaction. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the parties will not proceed with the transactions, that the ultimate terms of the transactions will differ from those that currently are contemplated, and that the transactions will not be successfully completed for any reason (including the failure to obtain the required approvals or clearances from regulatory authorities). The statements in this news release are made as of the date of this release. We undertake no obligation to comment on analysis, expectations or statements made by third parties in respect of Sawhill or SatFax, or their respective financial or operating results or their securities.

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

Contact Information

  • Sawhill Capital Ltd.
    Randal Matkaluk, President,
    Chief Executive Officer, Chief Financial Officer, Director
    (403) 287-1340