MONTREAL, June 17 /CNW Telbec/ - The Business Development Bank of Canada
(BDC) announces that it has acquired 8,333,333 common shares of Prosys Tech
Corporation (Prosys), pursuant to an agreement reached with BDC to convert
$2,000,000 of a $3,000,000 subordinated loan of Prosys' subsidiary Prosys-Tec
Computers Inc. into common shares of Prosys. On a diluted basis, such holding
represents 10.39% of the common shares of Prosys issued and outstanding as at
June 17, 2008.
Thus, after giving effect to the acquisition, BDC holds 8,333,333 common
shares of Prosys. On a diluted basis, BDC therefore currently holds 10.39% of
the common shares of Prosys issued and outstanding as at June 17, 2008. The
common shares of Prosys are listed on the TSX Venture exchange under the
ticker symbol POZ.
Prosys' securities held by BDC, directly or through its allies, are for
investment purposes. This investment will be reviewed periodically and BDC's
holdings may be increased or reduced in the future, as appropriate.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the
proposed Transaction and has neither approved nor disapproved the
contents of this news release.
BDC actively supports the development and growth of Canadian small and
medium-sized businesses through its complementary financial, investment and
consulting solutions. BDC is a financial institution wholly owned by the
Government of Canada. Visit www.bdc.ca for more information.
For further information:
For further information: Johanne Bissonnette, Media Relations Manager,
(514) 283-7929, firstname.lastname@example.org