 |
Back to Press Releases | 
TORONTO, CANADA — August 15, 2008 — GuestLogix Inc. (TSX-V:GXI), the leading provider of onboard retail systems to the airline industry, today announced plans to issue 164,000 common shares to a professional services firm as partial consideration for outstanding payables, and 75,000 common shares as partial consideration for outstanding notes payable related to the GuestLogix management buyout completed in 2005. The aggregate 239,000 common shares will be issued at a price of CDN$0.87, and will be subject to a four-month hold period from the transaction closing dates. Upon completion of the transactions, GuestLogix will have 54,104,073 shares issued and outstanding. The transactions are subject to regulatory approval.
About GuestLogix
Toronto-based GuestLogix is the leading provider of onboard retail technology and solutions to the passenger travel industry. Through its proprietary Mobile Virtual Store™ platform, the Company provides air, rail and ferry operators the tools to become successful onboard retailers, enhance service and drive ancillary revenue growth. With a customer base consisting of world leading airlines such as American Airlines, Delta Air Lines, Ryanair, Germanwings and Alaska Airlines, GuestLogix maintains contracts to serve more than half a billion passenger trips annually. For additional information please visit www.guestlogix.com.
Forward-Looking Statements
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with GuestLogix' business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect GuestLogix' current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Filing Statement filed on April 23, 2008 with the regulatory authorities. GuestLogix assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
- ### -
© 2008 GuestLogix. All Rights Reserved.
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release |
|
|
|
