MARKHAM, ON, Dec. 3 /CNW/ - Cygnal Technologies Corporation (TSX: CYN)
("Cygnal" or the "Company") today provided an update regarding the filing of
its interim financial statements for the period ended September 30, 2007.
On November 14, 2007, Cygnal announced that it would miss the deadline
for filing its interim financial statements and related management's
discussion and analysis for the period ending September 30, 2007. Cygnal noted
that it expected to file those materials on or before December 15, 2007. The
Company also stated at that time that it will issue a Default Status Report on
a bi-weekly basis during the default period. Such reports are required to
disclose any material change in the information announced on November 14, 2007
and the related material change report filed by the Company. The reports will
also disclose, among other things, any failure by Cygnal to fulfill its stated
intentions during the default period and any other material information
concerning the Company's affairs that has not been generally disclosed. The
Company confirms that there are no material changes to the information
contained in Cygnal's news release of November 14, 2007.
Cygnal is in the business of providing network communications solutions
including the design, integration, installation, maintenance and management of
wired and wireless solutions and networks. Cygnal has expertise in voice,
video and data solutions over traditional and next generation converged
Cygnal Technologies Corporation is headquartered in Markham, Ontario.
This news release contains forward-looking information with respect to
the Company's business, operations, financial performance, conditions and
outlook. Actual results may differ from expected results for a variety of
reasons, including the proposed restructuring announced today and the factors
discussed in the Company's most recently filed Management's Discussion and
Analysis and other continuous disclosure documents filed by the Company with
Canadian securities regulatory authorities.
For further information:
For further information: Please contact: Jeff Codispodi, Investor
Relations, The Equicom Group Inc., (416) 815-0700 ext. 261,