XPI secures funding from BEST Funds



    
    Investment Validates Market Demand as Transition to New Accounting
    Standards Helps Fuel Company Growth
    

    TORONTO, Sept. 9 /CNW/ - XPI, a leading provider of online solutions for
corporate disclosure information, today announced that it has secured funding
from The Business, Engineering, Science & Technology (BEST) Discoveries Fund
and the BEST Total Return Fund. The investment will support XPI's growing
sales, marketing, and customer support initiatives as the company continues to
expand its operations in response to the increased market demand for its core
solution, DisclosureNet.
    DisclosureNet is a research tool that enables users to perform targeted
searches on specific corporate disclosure documents filed in Canada via SEDAR
and SEDI, or EDGAR in the United States. With widespread adoption in the
accounting, corporate, investor, legal, and regulatory markets, DisclosureNet
assists professionals in these areas with the research and preparation of
disclosure documents filed by publicly traded companies.
    "XPI has all the elements that we look for: solid management, impressive
growth margins, and a product in great demand. Given these characteristics, we
are hopeful that XPI will emerge as one of the leaders of tomorrow," said John
Richardson, CEO of BEST Funds.
    A key driver for this continued growth is the mandated adoption of
International Financial Reporting Standards (IFRS) for Canadian publicly
accountable enterprises as of January 1, 2011. Currently, accounting
professionals in Canada follow Generally Accepted Accounting Principles (GAAP)
when preparing financial statements for publicly traded companies. IFRS, which
is followed in countries such as the UK, will replace GAAP and provide
consolidated global accounting standards for accounting professionals
worldwide.
    As a result, accounting professionals will require access to
IFRS-standard documents to research best practices, and how they're being
implemented, in order to prepare for this conversion. XPI plans to release a
new module of DisclosureNet that provides online access to this data for the
first time.
    "We are pleased to have experienced significant momentum in the last six
months, from record quarterly sales to the closing of our first major round of
financing with BEST Funds," said Peter Kaju, CFO of XPI. "This investment is
testament to the current market acceptance of our solutions, and the company's
potential for growth as more and more organizations turn to DisclosureNet."

    About XPI

    XPI is an innovative, Canadian technology company committed to building a
global disclosure network that facilitates the process for timely, secure, and
compliant creation, dissemination and analysis of disclosure documents. The
company's flagship product, DisclosureNet, enables users to perform targeted
searches and receive alerts on specific corporate disclosure documents filed
with SEDAR, SEDI and EDGAR. DisclosureNet has wide-spread adoption in the
Canadian accounting, corporate, investment, legal, and regulatory markets. For
more information, please visit www.xpi.com.

    About BEST Funds

    BEST Funds, a leader in the venture capital arena since 1996, focuses on
rapidly growing Canadian companies, where new technology can fundamentally
change the way people conduct business or enjoy their lifestyles. After
identifying an emerging market that has tremendous growth potential, BEST
Funds' experienced management team then selects companies poised to be leading
players in that market for the investment portfolio. The company's extensive
experience in the venture capital arena helps ensure that all of our investors
partake in unique opportunities otherwise available only to high net worth and
institutional investors.
    For more information, please visit www.bestfunds.ca.





For further information:

For further information: Marisa Marzano, (416) 916-8798 ext. 151,
m.marzano@xpi.com; Alan Chettiar, (416) 203-7331 ext. 235,
achettiar@bestfunds.ca

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XPI INC.

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