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Nexient Issues Update on Strategic Alternative Review
Sydney, Nova Scotia, November 9, 2007 - Nexient Learning Inc. (“Nexient”) (TSX: NXN), Canada's largest corporate training company, today issued a further update on its review of strategic alternatives available to the Company.
Nexient announced today that approximately $28,364,102 of debt due under various trust indentures that was to become due on November 8, 2007 has been extended for an additional 30 day term. Nexient is in continuing discussions with its lenders regarding an accommodation to allow Nexient to complete its strategic review. Nexient remains hopeful that a resolution can be found that is satisfactory to all stakeholders.
The Company's financial advisors, NewPoint Capital Partners, continue to work with management under the direction of Nexient's Board of Directors and its Special Committee, and have undertaken an extensive review of the Company's opportunities within the capital markets and strategic alternatives, and have engaged in discussions with various parties.
About Nexient Learning Inc.
Nexient Learning Inc. is the largest corporate training and consulting company in Canada. Nexient delivers the broadest choice of top caliber, industry-recognized curricula in information technology, business process improvement and leadership and business skills. Nexient's learning services include learning management systems, curriculum development and strategic consulting. With 18 locations across Canada, Nexient offers innovative learning solutions in both classrooms and online formats. Nexient is traded on the Toronto Stock Exchange as "NXN". More information is available on the company's website at www.nexientlearning.com.
Forward Looking Statements
This press release may contain forward-looking statements regarding, among other things, anticipated revenues, earnings and profitability for 2007 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 form 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.
For further information:
Donna de Winter, CFO
Nexient Learning Inc.
(416)964-8688 x2636
ddewinter@nexientlearning.com |