VICTORIA, April 19 /CNW/ - Streetlight Intelligence Inc. ("SLQ" or "the Corporation"). The board of directors of the Corporation announces that as of April 15,
2011 all employees of the Corporation were issued temporary layoff
notices in accordance with relevant employment standards, subject to
recall within prescribed periods, and the operations of the Corporation
Despite the foregoing, efforts continue to evaluate strategic
alternatives available to the Corporation with the intent of enhancing
shareholder value and resuming operations, including but without
limitation, alternate debt or equity financing arrangements, seeking
creditor protection, seeking a joint venture partner, licensing or sale
of some or all of the Corporation's assets, or merging, amalgamating,
or selling the Corporation to a larger, better-financed entity,
although there is no assurance that these efforts will be successful,
or if and when operations of the Corporation will resume.
About Streetlight Intelligence Inc.
Streetlight Intelligence Inc. develops advanced street light
optimization systems. Trademarked as Lumen IQ™, SLQ's technologies
provide improved lamp performance, adaptive lighting control, and
system-wide communications for centralized street light management.
SLQ's systems enable street light operators to significantly reduce
their community's energy consumption, maintenance costs and
SLQ is a public company listed on the TSX Venture Exchange under the
symbol "SLQ". For more information, visit www.StreetlightIQ.com or contact:
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 and accuracy of this release.
SOURCE Streetlight Intelligence Inc.
For further information:
Chief Executive Officer