Extenway, the Leader in Medical Technology, Announces Its Financial Results for the Fiscal Year 2011
November 22 2011 - 2:53PM
Marketwired
Extenway Solutions Inc. ("Extenway") (TSX VENTURE:EY) took
advantage of its 2011 annual and special meeting of shareholders to
announce that Cote 100 has just bought 3 million shares in the
company at 13 cents each for a total of $390,000. This capital
contribution, which comes on top of a private placement of $2.5
million which included the Caisse de depot et placement du Quebec
and NATCAN last October, helps strengthen the financial capacity of
the Montreal-based company, allowing it to be even more aggressive
on the Quebec and Canadian markets.
Revenue for the year ending April 30, 2011 totalled $444,000, on
the increase from $200,000 during the previous fiscal year.
Earnings before financing income, financing expense and income
taxes (EBIT) came in at a loss of $2.3 million, compared with a
loss of $1.7 million for the previous year. The company announced
net losses of $2.4 million compared to net losses of $1.8 million
for the fiscal year 2010.
"In 2011, Extenway positioned itself within the healthcare
sector as a leading player in the market of entertainment and
medical information technologies, said John McAllister, CEO of
Extenway. We know our solutions are appreciated, as they can
improve both the experience of patients and the efficiency of
hospital services. The large number of calls for proposal we were
invited to participate in are proof of this."
During the 2011 fiscal year, Extenway grew its market share by
winning a call for tender from the Centre de sante et de services
sociaux (CSSS) du Lac-des-Deux-Montagnes, north of Montreal, to
install and manage 280 bedside terminals. The company participated
in a number of calls for proposal in Quebec and Canada that are
still ongoing or in negotiation.
The Montreal-based company also used the 2011 fiscal year to
develop its first medical assistance application, which means it
will now be able to answer all the potential needs of healthcare
establishments, covering everything from entertainment and medical
assistance to managing and coordinating interactions between
patients and medical staff.
Please take note that some of the directors of Extenway (Louis
Brunel, Michel Lamontagne, Francine Laurent, Lorne Zakaib and
Carolyne Lassonde) have been granted options allowing them to
subscribe each a maximum of 115,385 common shares of the
Corporation, at a price of subscription of 13 cents per share. The
expiry date of these options is November 22, 2016.
About Extenway Solutions Inc.
Extenway Solutions Inc. provides IT, communications,
entertainment and education solutions to the healthcare sector.
Extenway terminals offer a wide range of integrated content and
services, including television, Internet, Microsoft Office, and
video conferencing. The terminals also offer the possibility of
managing patient appointments and regulating a patient's bedroom
environment. Extenway allows healthcare organizations to optimize
the way they manage and coordinate interactions between patients,
medical staff and those working in administration. The company is
based in Baie D'Urfe in the Montreal region of Canada. For more
information, visit www.extenway.com.
Disclaimer - Safe Harbour Forward-Looking Statements
Certain statements contained in this press release constitute
forward-looking statements. These forward-looking statements relate
to the future financial conditions, results of operations or
business of Extenway. These statements may be current expectations
and estimates about the markets in which Extenway operates and
management's beliefs and assumptions regarding these markets. These
statements are subject to important risks and uncertainties which
are difficult to predict and assumptions which may prove to be
inaccurate. The results or events predicted in forward-looking
statements may differ materially from actual results or events.
Extenway disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events, or otherwise. In particular,
forward-looking statements do not reflect the potential impact of
any merger, acquisitions or other business combinations or
divestitures that may be announced or completed after such
statements are made.
(i) All prices in this document are in Canadian dollars
(CAN).
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Alexandra Graveline Zone franche 514 317-5715, ext.
203agraveline@zonefranche.ca
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