Synergex Corporation

Synergex Corporation

June 27, 2011 17:44 ET

Synergex Corporation Sells Certain Assets of Logistics Business

MISSISSAUGA, ONTARIO--(Marketwire - June 27, 2011) - Synergex Corporation, announced today that it has completed the sale of certain of its assets related to its Canadian logistics and freight forwarding business. The Corporation has experienced liquidity and credit challenges since 2008 and the proceeds from the sale were used to repay the Corporation's secured debt, taxes related to the sale, and for general working capital requirements.

About Synergex Corporation

Synergex is an international service provider of comprehensive supply chain management services in 5 countries in Latin America, specializing in logistics services, distribution, sales, and marketing of digital entertainment products. For further information, please visit www.syx.ca.

ForwardLooking Statements

Some of the statements contained in this news release may be forward‐looking statements such as the Company's future plans, objectives and goals. The statements that are not historical facts are forward‐looking statements involving known and unknown risks and uncertainties, which could cause actual results to vary considerably from these statements.

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