Solidifi Completes Additional Financing



    Altus Group joins Solidifi shareholder group.  Foundation in place for
strategic growth.
    

    
    TORONTO, Oct. 7 /CNW/ -- Solidifi Inc., a leading provider of collateral
valuation and risk management services, has announced that it has completed an
additional round of financing, including a new growth equity investment from
Altus Group Income Fund. ("Altus"). The funds will be utilized to accelerate
the company's expansion into the U.S. mortgage market and grow in Canada.
Details of the investment were not released, but Altus will emerge as a
minority stakeholder in Solidifi.
    

    
    Solidifi provides mortgage professionals with risk management and data
analytic solutions that assist them in making smart decisions about collateral
valuations while significantly reducing the time and cost involved in
processing mortgage loans. Solidifi offers an established suite of products
including Solidifi ValuesTM and Solidifi InsightTM providing solutions for
obtaining high quality real estate valuations, automated appraisal reviews and
collateral risk assessments. In October, Solidifi will roll out this suite of
products to U.S. mortgage lenders at America's largest mortgage banking
conference, the Mortgage Bankers Association Annual Conference and Expo in San
Francisco.
    

    
    "I am very proud to welcome Altus into our group and I look forward to
working with their experienced team of leaders to help us expand the solutions
we offer our respective customers." said Jason Smith, President and CEO of
Solidifi. "This is a great fit for both firms. Altus understands the many
benefits inherent in our business model and appreciates the unique position we
are in to help U.S. firms deal with the current mortgage crisis and its
lingering impacts."
    

    
    Smith added that the new partnership would provide excellent
opportunities for growth in both firms. While Solidifi has many years of
proven expertise in technology development for the residential side of the
real estate financing business, Altus is the leader in independent
professional consulting to the commercial real estate industry with a solid
base of knowledge and established presence in a growing number of countries.
    

    
    "With this move, Altus is establishing the foundation for an ongoing
relationship that will allow us to leverage our combined experience and
expertise." said Terry McLean, Executive Vice President, Western Canada,
Research, Valuation and Advisory, Altus Group. "With the current global market
unease, Altus continues to target opportunities that meet the demand of our
increasingly international client base, for more informed decision making and
wider breadth of expertise, while adhering to a strict set of acquisition
criteria that signify our continued commitment to disciplined, long-term
growth."
    

    
    Altus' addition to the Solidifi investor group makes it part of a
prestigious set of investors that truly understand how to leverage strategic
investments in innovative companies. Other members of this group include
Whitecastle Investments and Quadrexx Asset Management.
    

    About Altus Group
    
    Altus Group Income Fund is the leading multidisciplinary provider of
independent real estate consulting and professional advisory services
worldwide. With a staff of over 1,300, Altus has 31 offices in 23 cities
throughout Canada and 6 offices throughout the UK. Altus operates as: Altus
Research, Valuation and Advisory; Altus Cost Consulting; Altus Realty Tax
Consulting; Altus InSite; Altus Geomatics; Altus Andrews; and Altus Edwin Hill
Altus UK LLP. Altus' clients include banks, financial institutions,
governments, pension funds, asset and fund managers, developers and landlords,
as well as companies engaged in the oil and gas industry. For more
information, go to altusgroup.com.
    

    About Solidifi Inc.
    
    Solidifi is a leading provider of collateral valuation, risk management
and data analytic services to the North American mortgage industry. Solidifi
provides mortgage lenders and professionals with a flexible service platform
for procuring collateral valuations from marketplace vendors and appraisers,
with complete transparency and data to make "incredibly smart decisions".
Solidifi currently serves leading global financial institutions and is located
in Chicago, Toronto, Montreal and Calgary. For more information, visit
www.solidifi.com.
    

    For more information, please contact:

    

    
    Mike Kraemer
    Solidifi Inc.
    Tel: 905-739-1212
    Fax: 905-739-1222
    Email: mkraemer@solidifi.com
    Web: www.solidifi.com




    




For further information:

For further information: Mike Kraemer, Solidifi Inc., +1-905-739-1212,
or fax, +1-905-739-1222, mkraemer@solidifi.com Web Site: http://altusgroup.com
                http://www.solidifi.com

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