VANCOUVER, British Columbia, Aug. 09, 2019 (GLOBE NEWSWIRE/Korea IT Times) -- RSI International Systems Inc. (TSX-V: RSY) (“RSI” or the “Company”) updates that as originally announced May 13, 2019, listing of the Company’s shares is being moved from the TSX-V, to the NEX, a separate board of the TSX-V. It is expected that trading of RSI shares on the TSX-V will cease at market close on Monday, August 12, 2019, and commence trading on the NEX at market open on Tuesday, August 13, 2019.
RSI President and CEO, Adam Ho stated “Although the sale of our principal business in February this year has given us $5 million to invest in a new business, we do not currently have an active business as defined by the TSX-V continuous listing requirements and hence the change in listing.”
Mr. Ho concluded “Our expectations of the process for us to invest in a new business are that there is no real difference whether we are listed on the TSX-V or NEX. Accordingly, we remain focused on minimizing our costs and finding a good business to acquire at a reasonable price, so that we may deliver value to our shareholders.”
RSI has approximately $5 million available to invest in a new business or asset. With funds already in hand and a supportive major shareholder holding over 44% of RSI’s outstanding shares, the Company believes that it offers an attractive opportunity to companies seeking investment, given the reduction of financing and other transaction risks. RSI encourages all cash flowing businesses seeking a public listing or investment into their company, to contact management to discuss a potential transaction.
With the transition from the TSX-V to the NEX, the Company’s trading symbol will change from RSY to RSY.H. There is no change in the Company's name, its CUSIP number and there is no consolidation of capital. The NEX is a separate board of the TSX-V.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
RSI International Systems Inc. has recently sold its only business asset, RoomKeyPMS. The Company is now seeking to use the net sale proceeds to invest in new business.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements. Any statements that are not strictly historical fact are considered "forward-looking statements." Forward-looking statements cannot be guaranteed and involve assumptions and are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and not place undue reliance upon forward-looking statements. Any forward-looking statements made herein are made as of the date hereof, and the Company assumes no obligation and disclaims any intention to revise or update any forward-looking information and statements except as required by applicable laws.
For more information, please contact:
RSI International Systems Inc.
Adam Ho, President, CEO & Director