Stockhouse Inc.
TSX VENTURE : SHC
OTC Bulletin Board : STKH

Stockhouse Inc.

August 11, 2009 17:21 ET

Stockhouse Inc. Voluntarily Files Form 15 to Suspend SEC Reporting Obligations

Will continue to trade on the TSX Venture exchange and report in Canada

NEW YORK, NEW YORK--(Marketwire - Aug. 11, 2009) - Stockhouse Inc. (OTCBB:STKH)(TSX VENTURE:SHC) today announced its Board of Directors unanimously approved the voluntary termination of the registration of its common stock under Section 12(g) of the Securities Exchange Act of 1934, as amended. In accordance with the resolutions adopted by its Board of Directors, Stockhouse Inc. will file a Certification and Notice of Termination of Registration on Form 15 with the Securities and Exchange Commission (SEC) to effect this termination. The Company is eligible to deregister its common stock as it had fewer than 300 holders of record of its common stock at the beginning of its fiscal year.

Upon the filing of Form 15, the Company's obligation to file periodic and current reports with the SEC, including Forms 10-K, 10-Q, and 8K, will be immediately suspended. Stockhouse expects that the deregistration of its common stock will become effective 90 days after the date of filing of Form 15 with the SEC. The Company will continue to trade on the TSX Venture Exchange under the symbol: SHC.

While no longer required by the SEC after deregistering, Stockhouse will continue to provide quarterly, annual and other information regarding the Company's performance to its shareholders while complying with TSX Venture rules and Canadian Securities regulations. In addition, filings and regulatory reporting will continue through its email database and website.

In reaching its decision, the Board of Directors of Stockhouse evaluated the advantages and disadvantages of continuing to operate as a reporting company in light of such factors as the costs and expenses of compliance with the Sarbanes-Oxley Act of 2002, the ongoing burden associated with the preparation and filing of periodic and current reports with the SEC and the substantial diversion of management's time and efforts from the tasks required to grow the Company's business and shareholder value. The Board of Directors also considered the current turmoil in the public markets.

Marcus New, President and CEO of Stockhouse said, "Our focus is on shareholder value and corporate success. The current market conditions, auditing, legal and other expenses required to maintain the SEC reporting requirements, plus the time and attention required by management to focus on public reporting instead of company growth combine to make it untenable to continue to be a 'reporting' company. Stockhouse intends to continue to share quarterly, annual and other Company information with our stakeholders."

About Stockhouse Inc.

Stockhouse Inc. ("Stockhouse") is a leading financial media company focused on user generated content and collaborative technologies. The Stockhouse platform for web-based portfolio management and financial content is licensed to top North American brokerage firms and media companies. This platform is also extended through Stockhouse.com, a leading online financial portal owned and operated by Stockhouse. Stockhouse.com is home to Bullboards message board - Canada's largest community of active investors. Recognized for its engaged audience, Stockhouse.com provides a sought-after demographic for advertisers.

Legal notice regarding Trademarks

"Stockgroup", "Stockhouse" and "Bullboards" are either registered trademarks or trademarks of Stockgroup Information Systems Inc. and/or its affiliated companies in Canada, the United States and/or other countries. Other names may be trademarks of their respective owners.

Legal notice regarding Forward Looking Statements

This release contains "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward looking statements". Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as "expects", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could", or "might" occur. More information about potential risk factors that could affect our business is included in the Company's 10-Q ended March 31, 2009 and 10-K for the year ended December 31, 2008, as amended, which are on file with the SEC at www.sec.gov. Stockgroup undertakes no obligation and does not intend to update these forward looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date of this press release. All forward looking statements are qualified in their entirety by this cautionary statement.

To find out more about Stockhouse, Inc. (OTCBB: STKH, TSX-V: SHC), visit our website at www.stockgroup.com.

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.

Contact Information

  • Stockhouse Inc.
    Marcus A. New
    President and Chief Executive Officer
    604.331.0995 or 1.800.650.1211
    www.stockgroup.com