MONTREAL, Jan. 11 /CNW Telbec/ - Spinlogic Technologies Inc ("Spinlogic")
(TSX-V: SLO) announces it has obtained an extension of its notice of intention
to offer a proposal to its creditors. A Judge from the Quebec Superior Court
agreed to extend this notice up to January 31, 2008.
Spinlogic still has not filed its financial statements for September 2007
which caused its shares to be sanctioned by a cease trade order.
Spinlogic did continue its attempt to conclude a transaction in order to
conclude a merger or an acquisition, but has failed to do so. Spinlogic has
also been unsuccessful in its attempts to pursue additional financing for its
working capital expenditures.
Spinlogic intends to sell its assets within a very short period of time.
Following this, Spinlogic hopes to execute an RTO with another company to
ensure its public entity continuation.
TSX-Venture Stock Exchange does not assume any responsibility as to the
relevance or the accuracy of this press release.
For further information:
For further information: André Poirier, President and CEO, (514)
234-6465, Fax: (514) 762-6521