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June 1, 2006 - CrossOff Incorporated Extends Debentures |
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| (Halifax, Nova Scotia) CrossOff announced today that it has amended its 9% Class A Unsecured Convertible Subordinated Debentures to extend the maturity date to August 31, 2006. The amendment provides that if CrossOff completes a financing for the purpose of repaying these debentures, then the maturity date will be accelerated to 10 days after completion of the financing if that date is before August 31, 2006. Other terms of the debentures, including interest rate and conversion price, remain unchanged. CrossOff is currently in the process of negotiating for a new financing for the purpose of paying out the principal amount of these debentures. |
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| About CrossOff |
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| CrossOff Incorporated is a Canadian based corporate training and consulting company. CrossOff is traded on the Toronto Stock Exchange as OFF. More information is available on the company’s website at www.crossoff.com. |
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| Forward Looking Statements |
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| This press release may contain forward-looking statements regarding, among other things, anticipated revenues, earnings and profitability for 2005 and beyond. Such statements involve known and unknown risks, uncertainties, and other factors outside management’s control that could cause actual results to differ materially from those expressed in the forward-looking statements. The statements are not a guarantee of future performance and readers are cautioned not to place undue reliance on forward-looking statements. The Company does not assume responsibility for the accuracy and completeness of the forward-looking statements. |
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For further information, please contact:
Colleen Moorehead
CrossOff Incorporated
416.964.8688 x2200
cmoorehead@crossoff.com |
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