Divcom Lighting closes private placement and provides update on recent activities and TSX delisting review



    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

    MONTREAL, Sept. 30 /CNW Telbec/ - Divcom Lighting Inc. (TSX: DVQ)
("Divcom" or the "Company") announced today that it has closed the private
placement previously announced on August 25, 2008. The Company has issued
8,333,333 common shares at a subscription price of $0.03 for total proceeds to
the Company of $250,000. The size of the private placement was reduced from
the size previously announced due to current market conditions.
    The Company also announced that after successfully refinancing its US
operations, it is negotiating a refinancing of its Canadian operations. The
Company currently expects this refinancing to close at the end of October.
    Divcom has concurrently obtained agreement from all of its unsecured
lenders to a moratorium on capital and interest payments for up to 36 months.
    Divcom's operations in Canada continue to be on budget and, following
major reductions in selling and administrative expenses, Divcom expects that
its Canadian operations will show positive EBITDA for the quarter ended August
31, 2008, which will be the second consecutive quarter of positive EBITDA. As
previously announced, the downsized operations of Divcom's Adjusta-Post
subsidiary in the United States will continue while the operations of its
other U.S. subsidiaries are discontinued.
    Divcom was advised on September 29, 2008 that the listings committee of
the Toronto Stock Exchange ("TSX") has decided to delist Divcom's common
shares effective as of the close of market on October 29, 2008. TSX indicated
that the delisting was imposed due to failure of the Company's common shares
to meet the price and market value requirements of TSX's continued listing
requirements. The de-listing by TSX is not expected to have an impact on the
Company's ongoing operations or financial condition and Divcom is currently in
discussions regarding listing its common shares on another Canadian stock
exchange prior to October 29.

    About Divcom

    Divcom is a leading North American manufacturer of architecturally
designed energy-efficient and "eco-friendly" lighting products for retail and
commercial markets across Canada and the United States. The Company's strategy
is to seize new business opportunities in the lighting industry and constantly
improve its energy efficient product lines. Divcom's products are distributed
through its extensive North American marketing network which includes more
than 2,000 distributors and agents. The Company's products are used for
residential houses, public roads and tunnels, as well as commercial,
industrial and custom-made lighting projects. For further information, please
visit www.divcomlighting.com

    Forward-Looking Statements

    Certain statements made in this press release and other statements
regarding our strategy, future operations, financial position, future
revenues, projected costs, prospects, plans and objectives other than
statements of historical facts are forward-looking statements. Such statements
are usually preceded by words such as "will" or "expects" and include
statements regarding the closing of the Company's Canadian refinancing, our
anticipated financial results, the impact of delisting from the TSX, or the
listing of the Company's common shares on a stock exchange other than TSX. We
cannot guarantee that we actually will achieve the results, plans, intentions
or expectations disclosed in our forward-looking statements and you should not
place undue reliance on them. There are a number of important factors that
could cause our actual results to differ materially from those indicated or
implied by forward-looking statements including, but not limited to, the
impact of any special items or of any dispositions, monetization, mergers,
acquisitions, business combinations or other transactions that may be
announced or that may occur after the date hereof. The Company's management
has assumed that there will be no unusual delays in completing the announced
refinancing or in the application process for obtaining listing on another
stock exchange, including any delays due to current market conditions. Risks
that could cause actual results to differ materially from those projected
include, but are not limited to, the effect of general economic conditions,
decreases in demand for the Company's products, increases in costs of raw
materials, changes in the relative value of the Canadian and U.S. currencies,
and fluctuations in selling prices. For a description of material risk
factors, please refer to the Company's annual information form and to our
periodic filings with securities regulatory authorities, which are available
on SEDAR at www.sedar.com. These factors should be read as being applicable to
all related forward-looking statements wherever they appear in this press
release. The information in this press release, including any forward-looking
statements, is provided as of the date of this release and should not be
relied upon as representing our estimates as of any subsequent date. We do not
assume any obligation to update or revise any forward-looking statements
except as required by law, whether as a result of new information, future
events or otherwise.
    %SEDAR: 00011838E




For further information:

For further information: Aslam Khatri, President and CEO, Divcom
Lighting Inc., (514) 693-2117

Organization Profile

DIVCOM LIGHTING INC.

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