Tangarine Payment Solutions Corp.
TSX VENTURE : TAN

February 20, 2009 17:48 ET

Tangarine Announces Date for Final Hearing of Plan Arrangement

TORONTO, ONTARIO--(Marketwire - Feb. 20, 2009) - Tangarine Payment Solutions Corp. (TSX VENTURE:TAN) ("Tangarine") announced today that, further to the press release of February 19, 2009 announcing that the shareholders of Tangarine have overwhelmingly approved a plan of arrangement involving Tangarine and 4491157 Canada Inc. (the "Purchaser"), an affiliate of Pivotal Payments Corporation (the "Arrangement"), a final hearing with the Ontario Superior Court of Justice (the "Court") to approve the Arrangement has been scheduled for Monday, February 23, 2009 at 10:00 a.m. at Toronto Ontario.

About Tangarine Payment Solutions Corp.

Tangarine's wholly-owned subsidiary, Tangarine Concepts Corporation, markets consumer-initiated electronic financial payment solutions to small and medium sized retail businesses, such as convenience stores, small specialty stores, bars, restaurants and gas stations. Tangarine currently manages over 8,100 POS terminals across Canada divided between wired (78%) and wireless (22%) terminals. The majority of the wireless terminals is marketed under the brand name "fleetX" and is located primarily in taxis operating in Ontario and Quebec.

About Pivotal Payments Corporation

Pivotal is a leading merchant services provider in both the United States and Canada. Pivotal provides a full suite of payment processing services to retail businesses, mail order/telephone order merchants and e-commerce merchants. Pivotal's services include credit & debit card processing, gateway services, terminal management solutions, loyalty/gift card programs and cash advance solutions. Pivotal is a privately held company. Company and product information are available at www.pivotalpayments.ca.

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