Solidarity Fund QFL Generates Positive Spinoffs for Québec with an Investment of $25 Million in the IT and Telecommunications Sectors

    MONTREAL, April 5 /CNW Telbec/ - The Solidarity Fund QFL (the "Fund") has
concluded partnership agreements with three world-renowned IT and
Telecommunications companies which will result in positive spinoffs for
Québec. Thus, the Fund will invest $11.8 million in Cellfish Media LLC,
$8.7 million in Nexsan Technologies Corporation and $4.7 million in Envivio
    "At the Fund, the growth of our partner companies is a focal point of our
economic mission. On the one hand, our IT and Telecommunications strategy is
aimed at helping start-ups through investments in specialized funds to back
them until the crucial marketing stage. On the other, we invest directly in
companies such as Cellfish Media, Nexsan Technologies Corporation and Envivio
that have successfully penetrated high-potential niches. Thanks to their
long-term vision and recruitment of qualified people in Montréal, we believe
this investment will generate positive spinoffs for Québec," stated Jacques
Bernier, the Fund's Senior Vice-President, Information Technologies,
Telecommunications and Industrial Innovations.
    Cellfish Media creates, publishes and distributes content for mobile
phones, i.e., music ringtones, games and mobile community applications such as
chatting. Its solutions are in high demand in France, North America and
Germany. In light of Montréal's qualified technology workforce, the company
will be recruiting employees with a view to boosting its R&D efforts. The
Fund's investment will also allow it to step up its growth and marketing
    Nexsan Technologies Corporation designs and manufactures hardware for the
growing data storage market. Its addressing, encryption and information
lifecycle management software programs are renowned for their flexibility.
Nexsan Technologies Corporation's solutions allow large companies to comply
with such strict regulations as those stipulated by the Sarbanes-Oxley Act,
which defines financial information disclosure principles, the Securities and
Exchange Commission,(1) which regulates data storage for the brokerage
industry, and the Health Insurance Portability & Accountability Act, which
governs the secure exchange of confidential patient information. The Fund's
investment will allow Nexsan to step up the development and marketing of its
solutions and create high-quality jobs in its Montréal office.
    Envivio has built an international reputation developing and marketing
digital video encoding and decoding solutions that meet the new ISO/IEC MPEG-4
(Moving Picture Experts Group) standard. Envivio's solutions provide optimal
image quality for the growing high-definition (HDTV), Mobile TV and IPTV
(Internet) television markets. With the Fund's investment, Envivio will be
able to continue its growth and create high-skilled jobs in Montréal. The
company also plans to assemble some of its products in Québec.

    About the Solidarity Fund QFL

    With assets of over $6.8 billion, the Solidarity Fund QFL is a
development capital fund that through its RRSP channels the savings of
Quebecers into investments in all sectors of the economy to help create and
maintain jobs and contribute to Québec's economic development. The
organization is a partner, either directly or through its network members, in
1,681 companies. The Fund currently has close to 570,000 shareholders and has
helped, on its own or with other financial partners, create, maintain and
support over 116,000 jobs. For more information, visit

    (1) Securities and Exchange Commission, Rule 240.17a 3&4.

For further information:

For further information: The telephone number provided below is for the
exclusive use of journalists and other media representatives; Source: Josée
Lagacé, Senior Advisor, Press Relations and Communications, Solidarity Fund
QFL, (514) 850-4835,

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