SYSCAN INTERNATIONAL INC.
TSX VENTURE : SYA

SYSCAN INTERNATIONAL INC.

April 10, 2007 08:00 ET

Syscan Announces Private Placement

MONTREAL, QUEBEC--(CCNMatthews - April 10, 2007) - Syscan International Inc. (the "Corporation")(TSX VENTURE:SYA) announced today that it will be undertaking a non-brokered private placement whereby the Corporation intends to issue 5,000,0000 units at a price of $0.15 per unit (the "Units") for gross proceeds of $750,000. The Units will be issued pursuant to applicable prospectus and registration exemptions and will be subject to a four month hold period.

Each Unit is comprised of one common share and one-half of a common share purchase warrant of the Corporation. Each whole share purchase warrant will entitle the holder to purchase one additional common share of the Corporation at a price of $0.25 per share for a period of two years after issuance.

The Corporation will pay, where appropriate, a cash finder's fee of 8% in connection with the placement and issue finder's fee warrants equal up to 8% of the total number of Units issued under the offering. Each finder's fee warrant will entitle the holder to subscribe for common shares of the Corporation at an exercise price of $0.20 for a period of two years. Proceeds from this offering will be used for general working capital.

Closing is scheduled for early May, 2007 and is subject to receipt of all necessary approvals including, if necessary, the TSX Venture Exchange.

About Syscan International Inc.

Syscan is a unique supply chain solution provider that delivers integrated real-time tracking and tracing systems that improve business efficiency through Radio Frequency Identification (RFID). Its standardized supply chain solutions include traceability, temperature monitoring and quality control applications for the food and pharmaceutical and military sectors. Shares of Syscan trade on the TSX Venture Exchange under the symbol SYA. There are approximately 39.7 million shares outstanding.

To receive Company press releases, please email ana@chfir.com and mention Syscan on the subject line.

The TSX Venture Exchange has not reviewed this release and it does not accept responsibility for its adequacy or accuracy.

Contact Information