Genesis Worldwide Inc. announces revocation of cease trade orders

MISSISSAUGA, ON, Sept. 26, 2011 /CNW/ - Genesis Worldwide Inc. ("Genesis" or the "Company"), (NEX: GWI.H), a leading provider of 'green' structural building products and technology in the light steel structural products industry, announces that the cease trade orders issued by the Ontario Securities Commission, the British Columbia Securities Commission, and the Autorité des marchés financiers (collectively, the "Commissions") on July 15, 2011, July 7, 2011 and July 20, 2011, respectively, for failure to file its interim financial statements for the three months ended March 31, 2011, and the related management's discussion and analysis and CEO and CFO certificates (collectively, the "Required Disclosure") on or prior to the filing deadline of June 29, 2011, have been fully revoked by the Commissions. The failure to file the Required Disclosure on or prior to the filing deadline resulted from changes in the Company's accounting personnel which delayed the Company's transition from Canadian generally accepted accounting principles to International Financial Reporting Standards as mandated by the Canadian Securities Administrators.

The Required Disclosure was filed by the Company on July 29, 2011 and it can now be viewed at www.sedar.com. The Company is in the process of applying to the NEX for reinstatement to trading.

About Genesis Worldwide Inc.

Genesis is a provider of green light steel building technology and solutions targeted at the global commercial, residential and institutional building sectors. Genesis delivers customized turnkey structural solutions, and provides software packages, industrial equipment, training programs, professional services and support ("Genesis Solution") to its customers and partners globally.  Headquartered in the Greater Toronto Area in Ontario, Canada, Genesis has established a network of partners with engineering, manufacturing and distribution operations in Canada, the United States, the Middle East, Eastern Europe, Russia and South East Asia.  For additional information about the Company, visit www.genesisworldwide.com.

Caution Regarding Forward-Looking Information

Certain statements in this press release which are not historical facts constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements") and are made pursuant to the "safe harbour" provisions of such laws. Statements related to the Company's projected revenues, earnings, growth rates, performance, business prospects and opportunities are forward-looking statements, as are any statements relating to future events, conditions or circumstances. The use of terms such as "may", "will", "should", "plan", "believes", "predict", "potential", "anticipate", "expect", "project", "target", "estimate", "continue", and similar terms are intended to assist in identification of these forward-looking statements.  These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects, and opportunities.  These assumptions, although considered reasonable by the Company at the time of preparation, may prove to be incorrect.

Readers are cautioned not to place undue reliance upon such forward-looking statements.  Such forward-looking statements are not promises or guarantees of future performance and involve both known and unknown risks and uncertainties that may cause the actual results, performance or achievements of the Company to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements.

Many factors could cause the actual results of the Company to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements, including, without limitation, those factors discussed under the heading "Risk Factors" in the Company's most recent Annual Information Form ("AIF"), a copy of which is available on SEDAR at www.sedar.com.  Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and, except required by law, the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.

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

SOURCE Genesis Worldwide Inc.

For further information:

Genesis Worldwide Inc.        
Richard Pope         
President & Chief Executive Officer
Tel: (707) 478-6250 

Profil de l'entreprise

Genesis Worldwide Inc.

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