SYDNEY, NS, Nov. 9 /CNW/ - Nexient Learning Inc. ("Nexient") (TSX: NXN),
Canada's largest corporate training company, today issued a further update on
its review of strategic alternatives available to the Company.
Nexient announced today that approximately $28,364,102 of debt due under
various trust indentures that was to become due on November 8, 2007 has been
extended for an additional 30 day term. Nexient is in continuing discussions
with its lenders regarding an accommodation to allow Nexient to complete its
strategic review. Nexient remains hopeful that a resolution can be found that
is satisfactory to all stakeholders.
The Company's financial advisors, NewPoint Capital Partners, continue to
work with management under the direction of Nexient's Board of Directors and
its Special Committee, and have undertaken an extensive review of the
Company's opportunities within the capital markets and strategic alternatives,
and have engaged in discussions with various parties.
About Nexient Learning Inc.
Nexient Learning Inc. is the largest corporate training and consulting
company in Canada. Nexient delivers the broadest choice of top caliber,
industry-recognized curricula in information technology, business process
improvement and leadership and business skills. Nexient's learning services
include learning management systems, curriculum development and strategic
consulting. With 18 locations across Canada, Nexient offers innovative
learning solutions in both classrooms and online formats. Nexient is traded on
the Toronto Stock Exchange as "NXN". More information is available on the
company's website at www.nexientlearning.com.
Forward Looking Statements
This press release may contain forward-looking statements regarding,
among other things, anticipated revenues, earnings and profitability for 2007
and beyond. Such statements involve known and unknown risks, uncertainties,
and other factors outside management's control that could cause actual results
to differ materially form those expressed in the forward-looking statements.
The statements are not a guarantee of future performance and readers are
cautioned not to place undue reliance on forward-looking statements. The
Company does not assume responsibility for the accuracy and completeness of
the forward-looking statements.
For further information:
For further information: Donna de Winter, CFO, Nexient Learning Inc.,
(416) 964-8688 x2636, firstname.lastname@example.org