SEL Exchange Inc.

July 13, 2015 16:13 ET

SEL Exchange Inc. Provides Corporate Update

TORONTO, ONTARIO--(Marketwired - July 13, 2015) - SEL Exchange Inc. (the "Company") (TSX VENTURE:SEL) provides an update with respect to its proposed sale of Service Results Technology Inc. ("SRT").

At the special meeting of shareholders held on Monday July 6, 2015, the shareholders of the Company voted in favor a special resolution approving the sale of SRT to 2461943 Ontario Inc. (the "Purchaser"). Subsequent to the shareholders' meeting, the Purchaser informed the Company on July 7, 2015 that it will not be proceeding with the purchase of SRT.

The Company will be undertaking a review of the operations of SRT and will be exploring all available options with respect to the continued operations of SRT and the Company.

The Company also announces that Henry Tse has resigned as a director and officer of the Company as of July 6, 2015 to pursue other opportunities. The Company would like to thank Mr. Tse for his contributions and work during this trying time for the Company and would like to wish me continued success in his future endeavours. Mr. Di Cristofaro continues to be a director and officer of the Company and will assume the role of Chairman of the Board and will continue to guide the Company through its next stage and oversee the strategic review of its operations.

Neither 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.

Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Corporation cautions investors that any forward-looking information provided by the Corporation is not a guarantee of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Corporation 's securities; the state of the industry; recent market volatility; the Corporation 's ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Corporation is unaware of at this time. The Corporation expressly disclaims any obligation to update any forward-looking statements except as may be required by law.

Contact Information

  • SEL Exchange Inc.
    Mark Di Cristofaro
    Chief Executive Officer