/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
Automatic Exercise of Special Warrants
TORONTO, Nov. 28 /CNW/ - ZIPLOCAL INC. (ZIP-TSX Venture Exchange)
("ZipLocal" or the "Company"), a leader in local online search technology,
today released its financial results for the three months ended September 30,
Net revenues for the three month period ended September 2007 were
$1,210,932 representing an increase of $164,169 (or 16%) from $1,046,763 in
the same quarter of fiscal 2006.
Net loss from continuing operations for the three months ended September
30, 2007 was $1,239,155 (or $0.02 per weighted average number of common
shares), compared to a loss of $2,298,448 (or $0.11 per weighted average
number of common shares) for the same period in 2006.
The complete financial results and management's discussion and analysis
of the results for the three months ended September 30, 2007 are available
through the System of Electronic Document Analysis and Retrieval (SEDAR) at
www.sedar.com. All currencies are stated in Canadian dollars.
In addition, the Company announced that the special warrants issued on
July 31, 2007 will expire at 4:30 p.m. (Toronto time) on December 1, 2007.
Each special warrant is exercisable for one common share of the Company,
without payment of any additional consideration. All special warrants that are
not exercised by holders will be deemed to be automatically exercised
immediately before the expiry time, without any further action by holders, and
the common shares will be issued.
About ZipLocal Inc.
ZipLocal operates a Canadian online directory that provides a rich,
user-defined local search experience. ZipLocal provides relevant search
results from over 1.3 million businesses with maps and functionality for users
to review, rate and tag business listings. ZipLocal is focused on creating the
most comprehensive and engaging search experience at the neighbourhood and
This news release may contain forward-looking statements based on
management's current projections, beliefs and opinions at the date of this
news release. Actual results could differ materially from those anticipated in
the statements due to risks and uncertainties which affect the Company's
business and operations. Reference should be made to the Company's continuous
disclosure documents filed from time to time with Canadian securities
regulatory authorities for a detailed description of such risks and
uncertainties. The Company takes no responsibility to update forward-looking
statements if circumstances or management's projections, beliefs or opinions
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Michelle Fanning, ZipLocal Inc., (416)