MONTREAL, July 2 /CNW Telbec/ - Isacsoft Inc. (TSX-V: ISF) ("Isacsoft")
announced today that the closing of the amalgamation of Isacsoft with 4468783
Canada Inc. ("BriseboisCo"), a company controlled by Ronald Brisebois, the
President, Chief Executive Officer and Chairman of the Board of Directors of
Isacsoft (the "Board") (the "Amalgamation") has been postponed to on or about
July 9th, 2008 pending finalization of financing details. Under the
Amalgamation, the shareholders of Isacsoft (the "Shareholders") will receive
for each common share of Isacsoft (the "Share") they hold, an amount of
$0.33 per Share (the "Offer Price").
The Amalgamation resolution was approved on June 27th, 2008 by 91,26% of
the votes cast by holders of Isacsoft shares and by 87,85% of the votes cast
by minority Shareholders.
Upon the Amalgamation becoming effective, Isacsoft will deliver to the
depositary sufficient funds to enable the depositary to make the payments of
the Offer Price.
Isacsoft is a provider of software business solutions, information
technology- training and systems integration consulting to its national and
international customers. The revenue model is based on software licences,
recurring revenues and strategic projects targeting key customers. Isacsoft is
headquartered in Montréal, Canada with offices in Paris, London, Cologne and
Some of the statements made in this release may constitute
forward-looking information or statements within the meaning of securities
laws. These statements are based on certain factors and assumptions, which
Isacsoft and BriseboisCo believe are reasonable as of the current date. While
Isacsoft and BriseboisCo consider these assumptions to be reasonable based on
information currently available to us, they may prove to be incorrect.
Isacsoft and BriseboisCo caution that actual future performance could be
affected by a number of factors, including technological change, regulatory
change and competitive factors, many of which are beyond Isacsoft and
BriseboisCo currently foresee. While Isacsoft and BriseboisCo may elect to,
they are under no obligation (and expressly disclaim any such obligation) and
do not undertake to update or alter this information.
For further information:
For further information: Alain Faucher, (514) 282-6190,