VAUGHAN, ON, April 8 /CNW/ - Genesis Worldwide Inc. (NEX: GWI.H)
("Genesis" or the "Corporation"), a leader in software and industrial
technology for residential and commercial construction, announces that
it has completed a non-brokered private placement (the "Private
Placement") of 937,500 common shares at a price of $0.08 per common
share (the "Common Shares") in satisfaction of services provided to the
Corporation, totalling an aggregate of $75,000, pursuant to a
management consultant agreement dated November 9, 2009 and a payment
agreement dated March 7, 2011. Following the completion of the Private
Placement, there are 82,167,550 common shares of the Corporation issued
About Genesis Worldwide Inc.
Genesis is a provider of green light steel building systems and
solutions targeted at the global commercial, residential and
institutional building sectors. Genesis delivers customized turnkey
structural solutions including innovative light steel products, and
provides software packages, industrial equipment, training programs,
professional services and support ("Genesis Solution") to its customers
and partners globally. Headquartered in the Greater Toronto Area in
Ontario, Canada, Genesis has established a network of partners with
engineering, manufacturing and distribution operations in Canada, the
United States, the Middle East, Eastern Europe, Russia and South East
Asia. For additional information about the Corporation, visit www.genesisworldwide.com.
Caution Regarding Forward-Looking Information
Certain statements in this press release which are not historical facts
constitute forward-looking statements or forward-looking information
within the meaning of applicable securities laws ("forward-looking
statements") and are made pursuant to the "safe harbour" provisions of
such laws. Statements related to the Corporation's projected revenues,
earnings, growth rates, performance, business prospects and
opportunities are forward-looking statements, as are any statements
relating to future events, conditions or circumstances. The use of
terms such as "may", "will", "should", "plan", "believes", "predict",
"potential", "anticipate", "expect", "project", "target", "estimate",
"continue", and similar terms are intended to assist in identification
of these forward-looking statements. These statements are based on
certain factors and assumptions including expected growth, results of
operations, performance and business prospects, and opportunities.
These assumptions, although considered reasonable by the Corporation at
the time of preparation, may prove to be incorrect.
Readers are cautioned not to place undue reliance upon any such
forward-looking statements. Such forward-looking statements are not
promises or guarantees of future performance and involve both known and
unknown risks and uncertainties that may cause the actual results,
performance or achievements of the Corporation to differ materially
from the results, performance, achievements or developments expressed
or implied by such forward-looking statements.
Many factors could cause the actual results of the Corporation to differ
materially from the results, performance, achievements or developments
expressed or implied by such forward-looking statements, including,
without limitation, those factors discussed under the heading "Risk
Factors" in the Corporation's most recent Annual Information Form
("AIF"), a copy of which is available on SEDAR at www.sedar.com.
Forward-looking statements are based on management's current plans,
estimates, projections, beliefs and opinions, and, except required by
law, the Corporation does not undertake any obligation to update
forward-looking statements should assumptions related to these plans,
estimates, projections, beliefs and opinions change.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Genesis Worldwide Inc.
For further information:
Genesis Worldwide Inc.
Chief Executive Officer
Tel: (905) 832-9286