FSC / Press Release
Glenbriar confirms share issuance
Waterloo, Ontario CANADA, April 19, 2009 /FSC/ - Glenbriar Technologies Inc. (GTI - CNQ, G1Q - FWB), announced that it has issued 239,984 common shares from treasury at $0.06 per share, which was the last CNSX closing price. The shares were issued under an employee stock purchase plan. Details are available at www.cnsx.ca.
Glenbriar further announced that in response to tightening credit conditions being imposed on small and medium businesses, it has renegotiated its revolving credit facility with a chartered bank. The new terms call for the loan to be termed out over 42 months based on an initial balance of $411,000, with an additional principal payment due on October 31, 2009 to reduce the principal to $250,000. Glenbriar's management is currently reviewing its options to determine what steps will be required to meet the new repayment schedule.
About Glenbriar
Glenbriar Technologies Inc. (CNSX: GTI) is a leader in Enterprise IT Innovation for small and medium enterprises. Glenbriar integrates information technology, voice and software strategies in a number of market verticals spearheaded by an internally developed Managed Infrastructure Services (MIS) approach. Glenbriar's software division, Peartree Software Inc., based in Waterloo, Ontario, develops advanced software solutions for targeted industries such as dealerships and manufacturing. See www.glenbriar.com for more details.
For further information call: Robert Matheson
Glenbriar Technologies Inc.
+1 (403) 450-7410
The CNSX has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.
This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors and uncertainties, many of which are beyond Glenbriar's control. Some of these risks and uncertainties may be described in Glenbriar's corporate filings (posted at www.sedar.com). Glenbriar has no intention or obligation to update or revise any forward looking statements due to new information or events.
Source: Glenbriar Technologies Inc. (CNQ: GTI) http://www.glenbriar.com
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