Business
/C O R R E C T I O N from Source -- SAMSys Technologies Inc./
/C O R R E C T I O N from Source -- SAMSys Technologies Inc./.
About this update from Search Minerals Inc.
[{"type":"text","content":"\n\n\n\n\nIn c3199 transmitted at 18:04, April 7, 2006, an error occurred. The \nsecond paragraph should have been ommitted. Corrected copy follows:\n\nSAMSys Receives Demand for Payment and Notice of Intention to Enforce a \nSecurity\n\nCompany: SAMSys Technologies Inc.\nStock Symbol: SMY\nListing: TSX\nOutstanding Shares: 51.5 Million\nWeb Site: www.samsys.com\n\nTORONTO, April 7 /CNW/ - SAMSys Technologies Inc. (SMY:TSX) (\"SAMSys\" or\nthe \"Company\"), an international provider of radio frequency identification\n(\"RFID\") hardware solutions, today announced that it has received a Demand for\nPayment dated April 7, 2006 together with a Notice of Intention to Enforce a\nSecurity pursuant to the Bankruptcy and Insolvency Act (the \"Notice\") from the\nholder of its outstanding secured debentures (the \"Debentures\"). As announced\non April 6, 2006, the terms of the agreement between the holder of the\nDebentures, Sirit Inc. (\"Sirit\") and SAMSys include the Company's consent to\nthe appointment of a receiver or an interim receiver for the purpose of\ndisposing of the Company's assets. The Company's consent to the receivership\nconstituted an event of default under the Debentures and also under the\nCompany's outstanding unsecured convertible debentures.\n\nAbout SAMSys Technologies Inc.\nSAMSys, founded in 1995, is a world-leading provider of RFID reader\nsolutions. SAMSys offers a family of products to simplify the installation and\nensure the ongoing performance of the overall RFID hardware infrastructure.\nSAMSys is a public company whose common shares are listed for trading on the\nTSX under the symbol \"SMY\". SAMSys has approximately 51.5 million common\nshares outstanding. Visit SAMSys at: www.samsys.com and www.investorfile.com.\n\nTHIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE\nRESULTS MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED. THE RISKS,\nUNCERTAINTIES AND OTHER FACTORS, BOTH KNOWN AND UNKNOWN, THAT COULD INFLUENCE\nACTUAL RESULTS MAY BE SUBSTANTIAL AND INCLUDE THOSE DESCRIBED IN DOCUMENTS\nFILED WITH REGULATORY AUTHORITIES, SUCH AS THE COMPANY'S MOST RECENTLY FILED\nANNUAL REPORT AND ANNUAL INFORMATION FORM. ACCORDINGLY, NO ASSURANCES CAN BE\nGIVEN THAT ANY OF THE EVENTS ANTICIPATED BY THE FORWARD LOOKING STATEMENTS\nWILL TRANSPIRE OR OCCUR, OR IF ANY OF THEM DO SO, WHAT BENEFITS THE ...