April 06, 2006 20:00 ET

Syscan Reports Extension for Private Placement Closing

MONTREAL, QUEBEC--(CCNMatthews - April 6, 2006) - Syscan International Inc.(TSX VENTURE:SYA) announced today that, subject to regulatory consent, it will be extending closing on its private placement for a period not to exceed 30 days. The extension is to accommodate institutional interest which has been shown in the offering in the past week and to allow for the preparation and execution of certain supplemental documentation to effect closing. The terms of the offering remain the same.

The agent, Dominick & Dominick Securities Inc. has agreed to sell, on a best efforts basis by way of private placement, approximately 8,333,333 units of Syscan at a price of $0.30 per unit for gross proceeds of $2,500,000. The net proceeds of this placement will be used for working capital. Each unit will consist of one common share and one-half of one common share purchase warrant. Each full common share purchase warrant will entitle the holder to purchase one common share of Syscan at a price of $ 0.45 per share for a period of twelve months after issuance. The units issued under this placement are subject to a four month hold period.

About Syscan International Inc.

Syscan is a world class 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 methodologies for the food, pharmaceutical and healthcare sectors. Shares of Syscan trade on the TSX Venture Exchange under the symbol SYA. There are approximately 34.7 million shares outstanding.

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