MONTREAL, July 2. Isacsoft Inc. (TSX-V: ISF) ("Isacsoft") announced today that the closing of the amalgamation of Isacsoft with 4468783 Canada Inc. ("BriseboisCo"), a company controlled by Ronald Brisebois, the President, Chief Executive Officer and Chairman of the Board of Directors of Isacsoft (the "Board") (the "Amalgamation") has been postponed to on or about July 9th, 2008 pending finalization of financing details. Under the Amalgamation, the shareholders of Isacsoft (the "Shareholders") will receive for each common share of Isacsoft (the "Share") they hold, an amount of $0.33 per Share (the "Offer Price").
The Amalgamation resolution was approved on June 27th, 2008 by 91,26% of the votes cast by holders of Isacsoft shares and by 87,85% of the votes cast by minority Shareholders.
Upon the Amalgamation becoming effective, Isacsoft will deliver to the depositary sufficient funds to enable the depositary to make the payments of the Offer Price.
Isacsoft is a provider of software business solutions, information technology- training and systems integration consulting to its national and international customers. The revenue model is based on software licences, recurring revenues and strategic projects targeting key customers. Isacsoft is headquartered in Montréal, Canada with offices in Paris, London, Cologne and The Hague.