SYDNEY, NS, Aug. 22 /CNW/ - Nexient Learning Inc. (TSX: NXN), Canada's
largest corporate training company, today issued a further update on its
review of strategic alternatives available to the Company.
As previously announced, Nexient has on its balance sheet secured
debentures totaling $27,500,000 with a maturity date of November 2007. The
Company's financial advisors, NewPoint Capital Partners, have worked with
management under the direction of Nexient's Board of Directors and its Special
Committee, and have undertaken an extensive review of the Company's
opportunities within the capital markets and strategic alternatives, and have
engaged in discussions with various parties. On August 21 2007, Nexient
entered into exclusive discussions with a third party regarding a possible
sale of a significant portion of the Company's business subject to a number of
conditions including satisfactory due diligence and shareholder approval. The
anticipated proceeds of the sale would permit the Company to satisfy its debt
obligations maturing November 7th, 2007. There can be no assurance that any
agreement will result from these discussions or that any transaction will be
About Nexient Learning Inc.
Nexient Learning Inc. is the largest corporate training and consulting
company in Canada. Nexient delivers the broadest choice of top caliber,
industry-recognized curricula in information technology, business process
improvement and leadership and business skills. Nexient's learning services
include learning management systems, curriculum development and strategic
consulting. With 22 locations across Canada, Nexient offers innovative
learning solutions in both classrooms and online formats. Nexient is traded on
the Toronto Stock Exchange as "NXN". More information is available on the
company's website at www.nexientlearning.com.
Forward Looking Statements
This press release may contain forward-looking statements regarding,
among other things, anticipated revenues, earnings and profitability for 2007
and beyond. Such statements involve known and unknown risks, uncertainties,
and other factors outside management's control that could cause actual results
to differ materially form those expressed in the forward-looking statements.
The statements are not a guarantee of future performance and readers are
cautioned not to place undue reliance on forward-looking statements. The
Company does not assume responsibility for the accuracy and completeness of
the forward-looking statements.
For further information:
For further information: Donna de Winter, CFO, Nexient Learning Inc.,
(416) 964-8688 x2636, firstname.lastname@example.org