CALGARY, Sept. 18 /CNW/ - CriticalControl Solutions Corp., (TSX-V:CCZ)
(the "Corporation" or "CriticalControl") today announced that it has completed
its normal course issuer bid that commenced on May 16, 2008. Pursuant to the
normal course issuer bid, CriticalControl acquired and cancelled the maximum
allowable shares under the bid, totaling 6,654,000 common shares for a total
consideration of $1,046,023.
The Corporation also announced that Mr. Alykhan Mamdani of Calgary,
Alberta, President & CEO of the Corporation, has acquired ownership and
control of an additional 65,500 common shares of CriticalControl via the open
market. With his previous ownership and control of 13,574,371 common shares,
Mr. Mamdani now has ownership and control of 13,639,871 common shares, which
is equal to 10.76% of CriticalControl's issued and outstanding common shares.
Of the 13,574,371 shares owned and controlled by Mr. Mamdani, 663,302 of
such shares are deferred common shares under the Company's deferred share
purchase plan, 4,468,000 shares are owned by Softech Capital Corp. (of which
Mr. Mamdani has a 50% interest) and 419,000 shares are owned by Growth
Technologies '98 Limited Partnership (of which Mr. Mamdani has a 19.57%
The common shares of CriticalControl were acquired for investment
purposes only and additional common shares may be purchased on the open market
CriticalControl is a technology company that builds, implements and
manages critical business process solutions. Our proprietary products are data
management tools to operate the critical business operations of our government
and energy sector clients. In addition to our proprietary products, we
implement large scale document and records management solutions using our
strong domain expertise and in depth knowledge of our customer base. Where
critical processes require unconditional continuity, our clients look to us to
manage and perform certain operational functions on a short term or long term,
outsourced basis. For more information please visit www.criticalcontrol.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: Alykhan Mamdani, President & CEO, Tel (403)
705-7500 or David Feick, The Equicom Group, Tel (403) 538-4787,