Texada Software Inc.

Texada Software Inc.

May 20, 2011 11:17 ET

Texada Software Inc. Clarifies Aly Babu Mawji Detained in Europe Not Same Aly Gulamali Mawji Who Serves on Texada's Board

GUELPH, ONTARIO--(Marketwire - May 20, 2011) -TEXADA SOFTWARE INC. ("Texada" or the "Company") (TSX VENTURE:TXS) wishes to clarify that the Aly Babu Mawji referenced in a number of recent media releases pertaining to criminal investigations in Germany relating to certain other TSX Venture Exchange companies including De Beira Goldfields Inc./Panex Resources Inc. is not the same Aly Gulamali Mawji who was appointed to Texada's Board of Directors on March 11, 2011. Aly Babu Mawji is not associated with the Company in any way.

Some of the media coverage has cited that the Aly Babu Mawji mentioned in reference to De Beira Goldfields Inc./Panex Resources Inc. is currently a member of the Board of Directors of the Company. Texada wishes to reiterate that these references are incorrect; the Mr. Mawji serving on Texada's Board of Directors is Aly Gulamali Mawji who resides in Nova Scotia and is not the same individual who is currently under investigation in Germany.

About Texada Software Inc. (TSX VENTURE:TXS)

Texada Software Inc. is the premier provider of enterprise software solutions for equipment rental and mobile equipment. Texada's solutions are fully flexible and scalable to meet the unique needs of any sized operation and are backed by proven implementation, services and support.

Texada's market-driven software products combine knowledge and best practices from over 5,000 users worldwide, resulting in solutions that manage the complete asset life-cycle from acquisition through to disposal. The Company's customers enjoy the many benefits of this enhanced efficiency through better asset utilization, effective location tracking, and optimized scheduling.

Texada can be reached at 1-800-361-1233 x - 2104 or 1-519-840-2104, or on the internet at www.texadasoftware.com.

This news release may contain forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Texada's ongoing quarterly filings should be consulted for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. Management assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Corporate Communications Contact:
    Texada Software Inc.
    Jim McInnis
    Chief Financial Officer
    1-800-361-1233 x - 2104