TORONTO, Aug. 15 /CNW/ - GuestLogix Inc. (TSX-V:GXI), the leading
provider of on-board retail systems to the airline industry, today announced
plans to issue 164,000 common shares to a professional services firm as
partial consideration for outstanding payables, and 75,000 common shares as
partial consideration for outstanding notes payable related to the GuestLogix
management buyout completed in 2005. The aggregate 239,000 common shares will
be issued at a price of CDN$0.87, and will be subject to a four-month hold
period from the transaction closing dates. Upon completion of the
transactions, GuestLogix will have 54,104,073 shares issued and outstanding.
The transactions are subject to regulatory approval.
Toronto-based GuestLogix is the leading provider of on-board retail
technology and solutions to the passenger travel industry. Through its
proprietary Mobile Virtual Store(TM) platform, the Company provides air, rail
and ferry operators the tools to become successful on-board retailers, enhance
service and drive ancillary revenue growth. With a customer base consisting of
world leading airlines such as American Airlines, Delta Air Lines, Ryanair,
Germanwings and Alaska Airlines, GuestLogix maintains contracts to serve more
than half a billion passenger trips annually. For additional information
please visit www.guestlogix.com.
This news release includes certain forward-looking statements that are
based upon current expectations, which involve risks and uncertainties
associated with GuestLogix' business and the environment in which the business
operates. Any statements contained herein that are not statements of
historical facts may be deemed to be forward-looking, including those
identified by the expressions "anticipate", "believe", "plan", "estimate",
"expect", "intend", and similar expressions to the extent they relate to the
Company or its management. The forward-looking statements are not historical
facts, but reflect GuestLogix' current expectations regarding future results
or events. These forward-looking statements are subject to a number of risks
and uncertainties that could cause actual results or events to differ
materially from current expectations, including the matters discussed under
"Risks and Uncertainties" in the Filing Statement filed on July 15, 2008 with
the regulatory authorities. GuestLogix assumes no obligation to update the
forward-looking statements, or to update the reasons why actual results could
differ from those reflected in the forward-looking statements.
(C) 2008 GuestLogix. All Rights Reserved.
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Media/Analysts: Josef Zankowicz, VP Marketing &
Communications, GuestLogix, (647) 500-1563, firstname.lastname@example.org; Investors:
Kristen Dickson, Equicom Group, (416) 476-7814, email@example.com