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Texada Software Inc. Announces Conversion and Payout of Debentures(December 02, 2011)
GUELPH, ONTARIO -- (Marketwire) -- 12/02/11 -- Texada Software Inc. (TSX VENTURE:TXS) (the "Company") is pleased to announce that holders of an aggregate of $713,500 principal amount of its previously issued convertible debentures (the "Debentures") have elected to convert the amounts outstanding under the Debentures into common shares of the Company. The Company issued the Debentures in the aggregate principal amount of $1,095,500 on December 2, 2008 in connection with a private placement of the Debentures. Please see the Company's press release of December 2, 2008 for further information. The amounts owing under the remaining $382,000 principal amount of Debentures were paid out in cash to the holders.
In connection with the conversion of the Debentures, the Company will issue a total of 9,994,974 common shares to the holders of the Debentures who have elected to convert, subject to the receipt of all required regulatory and TSX Venture Exchange (the "TSXVE") approvals. This total includes the shares issued in lieu of the accrued but unpaid interest portion of the amounts outstanding pursuant to the terms of the Debentures, which will also be converted into common shares under the "shares for debt" provisions of applicable TSXVE rules, subject to TSXVE approval.
More information may be found at www.sedar.com.
About Texada Software (TXS: TSX Venture Exchange)
Texada Software Inc. operates in two complementary businesses, enterprise asset management software and equipment rental.
Texada's enterprise software business continues as the premier provider of software solutions for equipment rental and mobile equipment. Texada's solutions are fully flexible and scalable to meet the unique needs of any sized operation and are backed by proven implementation, services and support. Texada's market-driven software products combine knowledge and best practices from over 5,000 users worldwide, resulting in solutions that manage the complete asset life-cycle from acquisition through to disposal. The enterprise software's customers enjoy the many benefits of this enhanced efficiency through better asset utilization, effective location tracking, and optimized scheduling.
The Company, through its wholly owned US equipment rental subsidiary, conducts business as Rolls High Reach at four locations in Southern California with a wide range of over 1,000 aerial fleet units.
Texada can be reached at 1-800-361-1233 or 1-519-836-7073, or at www.texadasoftware.com.
This news release may contain forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Texada's ongoing quarterly filings should be consulted for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. Management assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Corporate communications contact:
Texada Software Inc.
Chief Financial Officer
1-800-361-1233 x- 2104
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