Genesis Worldwide Inc. files final prospectus for initial public offering of common shares


    MISSISSAUGA, ON, June 25 /CNW/ - Genesis Worldwide Inc. ("Genesis" or the
"Company"), announced today that it has filed a final prospectus with the
securities regulatory authorities in each of the provinces of Canada in
connection with its initial public offering of 10,000,000 common shares at a
price of $2.00 (pnds stlg 0.94) per share. The offering is being underwritten
by a syndicate of underwriters led by Canaccord Adams, including CIBC World
Markets Inc. and TD Securities Inc. In addition, the underwriters have been
granted an option to purchase up to an additional 1,500,000 common shares at a
price of $2.00 per share at any time within 30 days of the closing of the
    The Company has applied and has received conditional listing approval to
list its common shares on the Toronto Stock Exchange. It has also applied for
its common shares to be admitted to trading on the AIM Market of the London
Stock Exchange.
    It is expected that the offering will close on or about July 3, 2007, and
is subject to customary closing conditions.
    The common shares to be issued pursuant to this proposed offering have
not been, and will not be, registered under the United States Securities Act
of 1933, as amended (the "Act") and may not be offered or sold in the United
States absent registration or any applicable exemption from the registration
requirement of such Act. Accordingly, this press release shall not constitute
an offer to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any jurisdiction in which such offer,
solicitation or same would be unlawful prior to qualification under the
securities laws of any such jurisdiction.

    About Genesis Worldwide Inc.

    Genesis is headquartered in Mississauga, Ontario, Canada and has
licensees worldwide. Genesis develops and licenses structural building
technology aimed at the residential, commercial and institutional building
markets. Genesis offers licensees a turn-key solution enabling them to custom
design, manufacture and install complete light steel building structures. The
Genesis Solution encompasses engineered processes and materials that are
environmentally sustainable or "green". For additional information about the
Company, visit

    Forward-Looking Statements

    Any forward-looking statements in this press release are based on current
expectations that are subject to significant risks and uncertainties that are
difficult to predict. Actual results may differ materially from projections
suggested in any forward-looking statements due to a number of risks including
those associated with the business of Genesis, the proposed offering and
regulatory matters. Genesis assumes no obligation to update the
forward-looking statements, or to update the reasons why actual results could
differ from those reflected in the forward-looking statements. Readers are
cautioned not to place undue reliance on forward-looking statements.
Additional information identifying risks and uncertainties are contained in
Genesis' final prospectus filed with the Canadian securities regulatory
authorities, available at

For further information:

For further information: Genesis Worldwide Inc., Vince Mifsud, President
and Chief Executive Officer, Tel: (905) 285-9909,

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