Manaris Corporation
Manaris Corporation Signs a Share Purchase Agreement with a Leading Player in the Security Industry for the Sale of CLI
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Manaris Corporation Signs a Share Purchase Agreement with a Leading Player
in the Security Industry for the Sale of CLI
MONTREAL–(BUSINESS WIRE)–Feb. 9, 2006–Manaris Corporation (‘Manaris’)
(OTCBB:MANS) (FRANKFURT WKN:255471) today announces that it has signed a
Share Purchase Agreement (the ‘Agreement’) to sell all of the shares of its
wholly-owned subsidiary, 6327915 Canada Inc., the holding company of
Chartrand Laframboise Inc. and Bureau de credit commercial Inc. (the ‘CLI
Group’) to a leading player in the security industry (the ‘Purchaser’) for
a price of C$5 million comprised of cash and common shares of the
Purchaser. A portion of the purchase price will be used to pay back debt
incurred when the CLI Group was acquired. The transaction is expected to
close within the following ten days.
The transaction is a step towards strengthening Manaris’ balance sheet,
streamlining activities and increasing the company’s focus on its other
subsidiaries, C-Chip Technologies Corporation (‘C-Chip’) and Avensys Inc.
(‘Avensys’).
Commenting on the proposed sale of CLI Group, Manaris’ President & CEO John
Fraser stated, ‘CLI Group is a highly-regarded firm and a leader in the
security services industry. Manaris’ other subsidiaries, namely C-Chip and
Avensys, operate in growth industries and offer very significant
opportunities for future expansion both organically and through
acquisitions. The sale of CLI to one of North America’s leading security
and cash handling services firms is a win-win situation that creates better
synergies for CLI. It will permit Manaris to concentrate on its strategic
objectives for its two manufacturing businesses.’
About Manaris Corporation
Through its wholly-owned subsidiaries, Manaris offers a comprehensive suite
of enterprise risk management services and solutions. C-Chip (North
America) specializes in the high-tech sector of the security industry, with
technology that allows business users to efficiently access, control,
manage and monitor remote assets at low costs. Avensys enables businesses
and corporations to monitor different types of environments, including air,
soil, water as well as buildings and infrastructures. Chartrand Laframboise
Inc. provides corporations and institutions with security services
including corporate investigation, surveillance, electronic monitoring and
protection of personnel and premises.
FORWARD-LOOKING-STATEMENT: Except for factual statements made herein, the
information contained in this press release consists of forward-looking
statements that involve risks uncertainties, including the effect of
changing economic conditions, competition within the credit and security
industry, customer acceptance of products and other risks and
uncertainties. Such forward looking statements are not guarantees of
performance, and Manaris Corporation results could differ materially from
those contained in such statements. These forward-looking statements speak
only as of the date of this release and Manaris Corporation undertakes no
obligation to publicly update any forward-looking statements to reflect new
information, events or circumstances after the date of this release.
Manaris Corporation
Mr. John Fraser
President and CEO
514 337 2447+
Zenergy Communications
Linda Farha
514-273-4034
Linda@zenergycom.com
(c)DGAP 14.02.2006
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language: English
emitter: Manaris Corporation
1155 Boulevard René-Levésque West Suite 2720
H3B 2K8 Montreal, QC Kanada
phone: +1 (514) 337-2447
fax: +1 (514) 337-0985
email: info@manariscorp.com
WWW: www.manariscorp.com
ISIN: US56176P1049
WKN: A0F5LD
indexes:
stockmarkets: Freiverkehr in Berlin-Bremen, Frankfurt, Stuttgart
End of News DGAP News-Service
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