CALGARY, Feb. 25 /CNW/ - PsiNaptic Inc. ("PsiNaptic") (TSXV: PST) would
like to announce that the Management Cease Trade Order (the "MCTO") issued by
the Alberta Securities Commission (the "ASC") on January 29, 2008 against the
securities of PsiNaptic, for each of Morris Bleviss, Aaron Dagan, Stephen
Eyre, Stuart Olley and Andrew Oppenheim, expired as of the close of business
on February 14, 2008.
The MCTO was voluntarily requested by PsiNaptic in light of its delay in
filing its annual audited financial statements for the year ended
September 30, 2007 and related Management's Discussion and Analysis (the
"Financial Statements"). The MCTO prohibited directors, officers and other
insiders of PsiNaptic from trading in securities of PsiNaptic until such time
as the Financial Statements were filed and the ASC had revoked the MCTO.
PsiNaptic filed the Financial Statements on February 11, 2008.
About PsiNaptic Inc.
PsiNaptic is a technology company that develops and markets software
based on open standards to address the growing need to connect small,
low-power wired or wireless devices without human intervention, configuration
or set up. PsiNaptic solutions operate on multiple platforms, across various
networks including Bluetooth and WiFi.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this release.
For further information:
For further information: Aaron Dagan, President and CEO, Telephone:
(403) 830-5957, E-mail: firstname.lastname@example.org, Web site: www.psinaptic.com