Synergex Corporation
TSX : SYX

Synergex Corporation

December 30, 2008 14:44 ET

Synergex to Implement Automatic Securities Purchase Plan for Common Shares Under the Normal Course Issuer Bid

MISSISSAUGA, ONTARIO--(Marketwire - Dec. 30, 2008) - Synergex Corporation (TSX:SYX) ("Synergex") or (the "Company") announced today that the Toronto Stock Exchange (the "TSX") has approved Synergex' intention to implement an Automatic Securities Purchase Plan ("ASPP") or (the "Plan") pursuant to the Company's Normal Course Issuer Bid (the "NCIB"), which was previously announced on June 19, 2008. The Plan will take effect on January 2, 2009, and continue for the duration of the term of the Company's NCIB.

Under the Plan, Synergex, through its managed brokerage account with BMO Nesbitt Burns Inc., will continue to repurchase its common shares regardless of whether a blackout trading period is in effect and regardless of whether there is material undisclosed information about the Issuer at the time of purchase. All common shares repurchased by Synergex pursuant to the NCIB will be cancelled. The NCIB was implemented on June 23, 2008, and will expire on June 22, 2009. Under the NCIB, the Company announced that it shall purchase up to a maximum volume of 5,580,139 common shares.

Last month, the TSX announced an increase of the six month Average Daily Trading Volume ("ADTV") maximum daily limit from 25% to 50% for all TSX Issuers purchasing shares pursuant to the NCIB. According to the TSX, this increase will expire on March 31, 2009, at which time the ADTV limit is expected to revert back to 25%. This limit increase allows Synergex to purchase more shares pursuant to the Company's NCIB, and the governing rules of the TSX.

"Our automatic securities purchase plan will allow us to purchase Common Shares of the Company without blackout restrictions, while also capitalizing on the increased ADTV purchasing limits by the TSX. Synergex anticipates that the implementation of the Plan will result in a greater number of Common Shares cancelled, which will have a positive effect on shareholder value." said David Aiello, President and Chief Executive Officer, Synergex Corporation.

About Synergex Corporation

Synergex is a premier international service provider of supply chain management solutions, specializing in logistics, distribution, freight forwarding, localization and packaging services. Headquartered in Mississauga, Ontario, with operations across North, Central and South America, Synergex serves a broad base of customers that includes a number of multinational enterprises. Synergex is listed on the Toronto Stock Exchange and trades under the symbol SYX. For further information, please visit www.syx.ca.

Forward-Looking 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.

Contact Information