Nexient Issues Update on Strategic Alternative Review

    SYDNEY, NS, Feb. 14 /CNW/ - Nexient Learning Inc. (TSX: NXN), Canada's
largest corporate training company, announced today that the investors in the
proposed going private transaction of Nexient, previously announced on
January 31, 2008, have advised Nexient that they no longer intend to proceed
with the proposed transaction. Nexient is currently in discussions with its
debentureholders regarding an extension of the maturity of the debentures and
have received positive indications regarding their support for other
refinancing alternatives that are already underway. In the interim, the
outstanding secured debentures have been converted to a demand credit
facility. Management is optimistic that an agreement will be reached with the
lenders regarding a new loan facility in the near term.
    Nexient also announced today that discussions with the Toronto Stock
Exchange regarding the continued listing of Nexient's common shares on the TSX
are in progress and that, based on their discussions with the TSX and other
Canadian stock exchanges, management is confident that Nexient will remain
listed as a publicly-traded company at the conclusion of the previously
announced listing review.

    About Nexient Learning Inc.

    Nexient Learning Inc. is the largest corporate training and consulting
company in Canada. Nexient delivers the broadest choice of top calibre,
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 18 locations across Canada, Nexient offers innovative
learning solutions in both classroom and online formats. Nexient is traded on
the Toronto Stock Exchange as "NXN". More information is available on the
company's website at

    Forward Looking Statements

    This press release contains forward-looking statements. Forward-looking
statements involve known and unknown risks, uncertainties and other factors
including economic conditions which may cause the actual results, performance
or achievements of the Corporation to be materially different from any future
results, performance or achievements expressed or implied by the
forward-looking statements. The transaction remains subject to customary
conditions including working capital adjustments, and there can be no
assurance that the transaction will be completed as scheduled or at all. The
Corporation specifically disclaims any obligation to update these
forward-looking statements. There can be no assurance that the financing will
be completed or that other forward-looking statements will prove to be
accurate and readers should not place undue reliance on forward-looking
    %SEDAR: 00002373E

For further information:

For further information: Donna de Winter, Chief Financial Officer,
Nexient Learning Inc., (416) 964-8688 ext. 2636,

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890