LAS VEGAS, Jan. 19, 2016 /CNW Telbec/ - DEQ Systems Corp. (TSXV: DEQ) ("DEQ" or the "Company") today announced that the Board of Directors has engaged Union Gaming Securities ("UGS") to explore a variety of strategic alternatives intended to maximize shareholder value. Such strategic alternatives may include, but are not limited to an acquisition, merger or other form of business combination, a recapitalization of the Company, or other similar transactions. Previously, UGS has advised the company on financial and strategic matters.
"Our Board of Directors is focused on creating value for our shareholders and therefore we are conducting a review of strategic alternatives with UGS to ensure that we have global visibility to identify diverse and accretive gaming opportunities," stated David Ross, Chairman of the Board of DEQ.
"DEQ will continue to execute our strategy while remaining fully committed to our customers, partners, suppliers, and employees as the Board undertakes this exploratory process," stated Joe Bertolone, President and Chief Executive Officer of DEQ.
There can be no assurance that this process will result in a transaction and there is no set timetable for actions to be taken in the process. The Company does not intend to discuss or disclose any developments related to the process until the Board has approved a definitive course of action or otherwise concludes the process.
DEQ Systems Corp. (TSXV: DEQ) is a market leader in Table Games, Progressive Systems, live and online Proprietary Table Games content and Utility solutions.DEQ's systems and games are installed in over 300 casinos, in 30 countries around the world. The combination of our services, industry leading products and revenue generation capabilities make DEQ a leader for innovation in the table game bonusing segment of the global gaming market. For further information, please visit www.deq.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain forward-looking information within the meaning of applicable securities legislation. Forward-looking information can, but may not always, be identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "would", "should", "believe", "objective", "ongoing", "assumes", "goal" and similar references to future periods or the negatives of these words and expressions. Forward-looking statements are based on management's current expectations and are subject to a number of risks, uncertainties, and assumptions, including market and economic conditions, future plans and strategies, projections, anticipated events and trends and regulatory changes that affect us, our customers and our industries. Forward-looking statements contained in this press release include, without limitation, statements pertaining to potential strategic alternatives and transactions that DEQ may pursue. Additional information about these assumptions and risks and uncertainties is contained under "Business Risks and Uncertainties" in DEQ's latest management's discussion and analysis, which is available on SEDAR at www.sedar.com, and in other filings that DEQ has made and may make with applicable securities authorities in the future. The forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement. Investors are cautioned not to put undue reliance on forward-looking statements. All forward-looking statements in this press release are made as of the date of this press release. DEQ does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required by law.
SOURCE DEQ SYSTEMS CORP.
For further information: Joseph Bertolone, President & Chief Executive Officer, DEQ Systems Corp., p: (775) 450-0115, e: [email protected]; Christopher Benak, Chief Financial Officer, DEQ Systems Corp., p: (702) 533-4431, e: [email protected]