Company: SAMSys Technologies Inc.
Stock Symbol: SMY
Listing: TSX
Outstanding Shares: 51.5 Million
Web Site: www.samsys.com
TORONTO, Feb. 24 /CNW/ - SAMSys Technologies Inc. (SMY:TSX) ("SAMSys" or
the "Company"), an international provider of radio frequency identification
hardware solutions, today announced that it has repaid $2,000,000 of the
principal amount outstanding under its secured debentures (the "Debentures")
issued on August 31, 2005 to Wellington Financial Fund II ("Wellington"). As
disclosed in the Management's Discussion and Analysis for the quarter ended
December 31, 2005 the Company had previously segregated this amount for the
purposes of repayment.
SAMSys is currently in compliance with the covenants contained in the
Debentures. Following the repayment described above, the outstanding principal
amount of the Debentures is $4,000,000.
About SAMSys Technologies Inc.
SAMSys, founded in 1995, is a world-leading provider of radio frequency
identification ("RFID") reader solutions. SAMSys offers a family of products
to simplify the installation and ensure the ongoing performance of the overall
RFID hardware infrastructure. SAMSys is a public company whose common shares
are listed for trading on the TSX under the symbol "SMY". SAMSys has
approximately 51.5 million common shares outstanding. Visit SAMSys at:
www.samsys.com and www.investorfile.com.
THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE
RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED. THE RISKS,
UNCERTAINTIES AND OTHER FACTORS, BOTH KNOWN AND UNKNOWN, THAT COULD INFLUENCE
ACTUAL RESULTS MAY BE SUBSTANTIAL AND INCLUDE THOSE DESCRIBED IN DOCUMENTS
FILED WITH REGULATORY AUTHORITIES, SUCH AS THE COMPANY'S MOST RECENTLY FILED
ANNUAL REPORT AND ANNUAL INFORMATION FORM. ACCORDINGLY, NO ASSURANCES CAN BE
GIVEN THAT ANY OF THE EVENTS ANTICIPATED BY THE FORWARD LOOKING STATEMENTS
WILL TRANSPIRE OR OCCUR, OR IF ANY OF THEM DO SO, WHAT BENEFITS THE COMPANY
WILL DERIVE THEREFROM.
%SEDAR: 00001696E
