MONTREAL, QUEBEC--(Marketwire - June 1, 2012) - SENSIO Technologies Inc. ("SENSIO") (TSX VENTURE:SIO), today announces that, due to market conditions, it will not be proceeding with the brokered private placement with NCP Northland Capital Partners Inc., as stated in a press release dated April 23, 2012.
"During the last few weeks, we have observed that the current financial market conditions did not allow for a financing that could satisfactorily answer the parameters we had initially defined," said Nicholas Routhier, President and CEO of SENSIO. "From a business perspective, we are encouraged by the current sales growth of 3DTVs worldwide, recent developments at SENSIO and our positioning in this fast growing market. Today's announcement will have no impact on our commitment to the continued success of our technologies in the marketplace."
SENSIO Technologies Inc. (www.sensio.tv) has been leading the floor in bringing 3D video to the consumer since 1999. Its vision, expertise and state-of-the-art solutions, based on diversified stereoscopic image-processing technologies, have been trusted by some of the biggest names in the media and entertainment industries to power numerous industry firsts, initiate new business models and generate immediate revenue with a distinctive 3D offering.
SENSIO enables its clients to deliver the best possible 3D experience for the end-user through a broad portfolio of products, including its flagship, award-winning technology, SENSIO® Hi-Fi 3D. Through SENSIO solutions, consumers can access - with effortless interaction and complete peace of mind - 3D content of superior quality to common frame-compatible formats distributed over existing infrastructure (cable, satellite or over IP) and displayed using any existing digital equipment (cinema, home cinema, TV, game consoles or PC). SENSIO's common shares are listed on the TSX Venture Exchange.
SENSIO® is a registered trademark of SENSIO Technologies Inc.
This news release contains forward-looking information. These statements relate to future events and reflect management's current expectations and assumptions. Such forward-looking statements are based on information currently available to management of SENSIO. A number of factors beyond the control of SENSIO could cause the aforementioned private placement to be delayed or cancelled, including general market conditions, failure to locate subscribers willing to participate or failure to obtain the necessary regulatory approvals. These forward-looking statements are made as of the date hereof and SENSIO does not assume any obligation to update or revise them to reflect new events or circumstances.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.