/NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
TORONTO, Oct. 2 /CNW/ - SOFTWARE GROWTH INC. (TSXV: SGW.P) (the
"Corporation"), a capital pool company, announced today that it has terminated
the proposed acquisition of Lavell Systems Inc. ("Lavell"), as announced by
the Corporation on June 25, 2008 (the "Transaction").
Since entering into the term sheet with Lavell on June 19, 2008, the
Corporation and Lavell have been unable to satisfy all of the conditions
required to complete the Transaction. As a result, the Corporation will
explore other transactions in various economic sectors with a view to
completing its qualifying transaction pursuant to the policies of the TSX
Venture Exchange Inc. (the "Exchange").
The Corporation has made a claim for reimbursement for professional fees
and disbursements paid by the Corporation in connection with the Transaction.
The common shares of the Corporation will resume trading only after
approval from the Exchange.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved of the
contents of this press release.
For further information:
For further information: Mark Lawrence, President, Chief Executive
Officer, Chief Financial Officer and Director, Software Growth Inc., (416)
707-6630 or firstname.lastname@example.org