TSX Venture Exchange Symbol "SER"
EDMONTON, Feb. 13 /CNW/ - Serenic Corporation (TSX-V:SER), ("Serenic" or
the "Corporation"), a leading publisher of financial management and business
operations software for not-for-profit organizations, is pleased to announce
that it has engaged Dollarton Venture Capital ("DVC") to provide investor
relations and corporate communication services for the Corporation.
Based in Vancouver, DVC specializes in assisting private and public
Canadian companies with an array of services, such as grant proposal
assistance, tax credit applications, professional management services and
corporate communications. The principals of DVC are Christopher ("Kit") Spence
and Nick Waddell.
Serenic CEO Randy Keith noted: "We are pleased to get involved with
Dollarton because they truly understand technology companies and appreciate
the significance of Serenic's opportunity within the software business. Our
belief is that Serenic's current market capitalization, using common industry
metrics, is below that of similar companies, and we look forward to working
with Dollarton to further enlighten the investor community regarding our
opportunities and progress."
DVC President Nick Waddell commented on the engagement: "When we first
looked at Serenic, we did so from the perspective of investors. The Company is
profitable, has no debt, has a strong cash position, and has a market
capitalization that is less than one times trailing twelve month revenues. In
talking with Serenic management, we felt that Serenic's top line growth plans
are very compelling. Serenic was named Microsoft's Industry Solutions Vendor
of the Year, and earned membership in Microsoft's Inner Circle and Presidents
Clubs in 2007. And because Randy Keith was the former President of Navision
US, which more than doubled in revenues during the three-years he led the
company prior to it being acquired by Microsoft, he clearly has the experience
to replicate similar growth in Serenic. We believe Serenic's recent Q2 and Q3
reports are an early reflection of the kind of growth we will continue to see
as the company continues to expand its sales and marketing reach, and further
capitalize on its relationship with Microsoft and their global network of
During the 12-month term of the agreement, Dollarton will be compensated
with a monthly retainer fee of $6,000 (six thousand dollars) and 180,000
(one hundred and eighty thousand) options to purchase Serenic shares. The
options will have an exercise price of $0.55 with a 15-month term expiring
May 15, 2009, and shall vest in equal amounts on May 15th, 2008, August 15th,
2008, November 15th, 2008, and February 15th, 2009. Shares acquired on
exercise shall be subject to a 4 month hold period. Pursuant to the terms of
the agreement, either party may terminate the agreement or change the scope of
services to be provided by Dollarton upon 30 days advance notice, while also
adjusting compensation terms to reflect the revised scope of services, if any.
This engagement and agreement is subject to the acceptance of the TSX
About Serenic Corporation: www.serenic.com
Serenic develops, markets and supports mission-critical financial
management and business operations software for not-for-profit and public
sector (government and educational) organizations world-wide. In addition,
Serenic is the exclusive developer of the payroll and human capital management
products for Microsoft Dynamics NAV solutions marketed within North America.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Dollarton Venture Capital, 3860 Dollarton Hwy,
North Vancouver, BC, V7G 1A2, firstname.lastname@example.org, email@example.com