GENESIS WORLDWIDE INC. PROVIDES UPDATE REGARDING MANAGEMENT CEASE TRADE ORDER

MISSISSAUGA, ON, June 2, 2011 /CNW/ - Genesis Worldwide Inc. ("Genesis" or the "Company"), (NEX: GWI.H), announces that on May 30, 2011 it filed with the securities regulatory authorities its audited financial statements as at and for the year ended December 31, 2010, and the related management's discussion and analysis and CEO and CFO certifications, as well as its annual information form for the year ended December 31, 2010 (collectively, the "Required Disclosure"), which it had been in default of filing since April 1, 2011. As a result of the Company's default in filing the Required Disclosure, on April 4, 2011, the Ontario Securities Commission issued a temporary Management Cease Trade Order ("MCTO") prohibiting all trading in and all acquisitions of the securities of the Company, whether direct or indirect, by the President and Chief Executive Officer and the Vice President of Finance of the Company. On April 15, 2011, the temporary MCTO was replaced by a permanent MCTO. As a result of the filing by the Company of the Required Disclosure on May 30, 2011, the prohibition against trading contained in the MCTO terminated on June 2, 2011 in accordance with the terms of the MCTO.

About Genesis Worldwide Inc.

Genesis is a provider of green light steel building technology and solutions targeted at the global commercial, residential and institutional building sectors. Genesis delivers customized turnkey structural solutions, and provides software packages, industrial equipment, training programs, professional services and support ("Genesis Solution") to its customers and partners globally.  Headquartered in the Greater Toronto Area in Ontario, Canada, Genesis has established a network of partners with engineering, manufacturing and distribution operations in Canada, the United States, the Middle East, Eastern Europe, Russia and South East Asia.  For additional information about the Corporation, visit www.genesisworldwide.com.

Caution Regarding Forward-Looking Information

Certain statements in this press release which are not historical facts constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements") and are made pursuant to the "safe harbour" provisions of such laws. Statements related to the Corporation's projected revenues, earnings, growth rates, performance, business prospects and opportunities are forward-looking statements, as are any statements relating to future events, conditions or circumstances. The use of terms such as "may", "will", "should", "plan", "believes", "predict", "potential", "anticipate", "expect", "project", "target", "estimate", "continue", and similar terms are intended to assist in identification of these forward-looking statements.  These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects, and opportunities.  These assumptions, although considered reasonable by the Corporation at the time of preparation, may prove to be incorrect.

Readers are cautioned not to place undue reliance upon such forward-looking statements.  Such forward-looking statements are not promises or guarantees of future performance and involve both known and unknown risks and uncertainties that may cause the actual results, performance or achievements of the Corporation to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements.

Many factors could cause the actual results of the Corporation to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements, including, without limitation, those factors discussed under the heading "Risk Factors" in the Corporation's most recent Annual Information Form ("AIF"), a copy of which is available on SEDAR at www.sedar.com.  Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and, except required by law, the Corporation does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


SOURCE Genesis Worldwide Inc.

For further information:

Genesis Worldwide Inc.
Richard Pope
Chief Executive Officer
Tel: (707) 478-6250 

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Genesis Worldwide Inc.

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