Published: April 03, 2006

Syscan Reports Extension for Private Placement Closing

Share This Story

Syscan International Inc. (TSX VENTURE:SYA) today reported that the closing of the previously announced private placement led by Dominick & Dominick will be extended to April 6, 2006 to accommodate certain subscribers. Terms of the private placement remain unchanged.

Dominick & Dominick Securities Inc. has agreed to sell, on a best efforts basis by way of private placement, approximately 8,333,333 units of Syscan at a price of $0.30 per unit for gross proceeds of $2,500,000. Each unit will consist of one common share and one-half of one common share purchase warrant. Each full common share purchase warrant will entitle the holder to purchase one common share of Syscan at a price of $ 0.45 per share for a period of twelve months after issuance. The Units issued under this placement are subject to a four month hold period.

About Syscan International Inc.

Syscan is a world class supply chain solution provider that delivers integrated real-time tracking and tracing systems that improve business efficiency through Radio Frequency Identification (RFID). Its standardized supply chain solutions include traceability, temperature monitoring and quality control methodologies for the food, pharmaceutical and healthcare sectors. Shares of Syscan trade on the TSX Venture Exchange under the symbol SYA. There are approximately 34.7 million shares outstanding.

To receive Company press releases, please email julia@chfir.com and mention Syscan on the subject line.

The TSX Venture Exchange has not reviewed this release and it does not accept responsibility for its adequacy or accuracy.