Québec, October 4, 2006 – Fortsum Business Solutions Inc. (Fortsum Business Solutions) (TSX Venture Exchange: FRT) announces today the signature of a letter of intent to acquire 100% of issued and outstanding shares of Implanciel Inc. (Implanciel), a Québec-based company, generating annual revenues near $3M, specialized in providing and integrating computerized solutions for businesses in all industry sectors. A “Premier” level Accpac partner, Implanciel is positioned among the leaders in the implementation, training and support of Sage Accpac and SAP Business One products in Québec.
“The acquisition of Implanciel fits perfectly into our corporate strategy to be the provincial leader in the deployment of business solutions for SMBs. Already with the acquisition of Groupe Conseil LVMB last spring, Fortsum Business Solutions solidly affirmed its position; now it intends to take another major step towards its goal to be the leader in this market within Québec”, explained corporate Chief Executive Officer, François Taschereau. ”We believe our shareholders will be very pleased with this transaction. Fortsum Business Solutions is currently in an active period of growth, both within our organization and through acquisitions, and all our efforts target meeting our ambitious, yet realistic, financial goal to increase value for our shareholders and foster corporate development. If this project is brought to fruition, the recognition, technical expertise and human resources brought by Implanciel will become important assets for Fortsum Business Solutions,” added Taschereau.
Conditions
The proposed transaction is subject to approval of Fortsum Business Solutions’ board of directors following due diligence as well as the approval of the appropriate authorities. The purchase price is currently estimated at approximately 10% of Fortsum Business Solutions’ total assets as at September 30, 2006. 50% of this sum will be paid in cash upon closing the transaction, 10% in corporate shares at a price fixed according to the policies of TSX Venture Exchange Inc. The remaining balance of the purchase price will be paid over 36 months. Should the transaction close, Denis Carrier, CA, CATI, Implanciel’s current executive, will continue to manage the company’s business affairs and growth strategy. Fortsum Business Solutions and Implanciel hope to sign a final agreement by December 31, 2006.
About Implanciel
Founded in 1989, Implanciel is a company specialized in the deployment and integration of business management software for companies in all industries. Located in Laval, Implanciel counts some twenty employees and serves over 300 customers. For more information: www.implanciel.com
About Fortsum Business Solutions
Fortsum Business Solutions Inc. is mainly involved in the development, marketing and support of accounting, commercial and banking data management software. For more information: www.fortsum.com
Forward-looking information
This press release may contain forward-looking information. Statements based on current management expectations involve inherent risks and uncertainties, both known and unknown. Actual results may vary from forecasts. The reader is advised not to place undue faith in forward-looking information.
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For Information:
FORTSUM BUSINESS SOLUTIONS INC.
François Taschereau
Chief Executive Officer
ftaschereau@fortsum.com
Dany Beaudet
Shareholder Communications Coordinator
Tel.: (418) 877-0088 Ext. 2272
Toll-free: 1 888 268-0088
Fax: (418) 877-9994
dbeaudet@fortsum.com
Frédéric Tremblay
HKDP Communications and Public Affairs
Tel.: (514) 395-0375, ext. 234
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the release.