Poynt Corporation Receives New Extension to Creditor

Poynt Corporation Receives New Extension to Creditor Protection 
CALGARY, ALBERTA -- (Marketwire) -- 10/11/12 -- Poynt Corporation
(TSX VENTURE:PYN) ("Poynt Corp." or the "Company"), a global leader
in mobile local search and advertising, today announced that the
Court of Queen's Bench of Alberta (the "Court") granted an order
extending its creditor protection until Monday, October 15, 2012 in
order to secure additional debtor-in-possession ("DIP") financings.  
Further to an announcement made by the Company on September 18, 2012
concerning an agreement made and approved by the Court for DIP
financings in an aggregate amount of fifty thousand Canadian dollars
(CDN$50,000) (collectively, the "DIP Financings"), the Company
advises that an aggregate of ten thousand Canadian dollars
(CDN$10,000.00) of the DIP Financings was provided by one DIP lender
who is a director and officer of the Company.  
Hardie & Kelly Inc. of Calgary, Alberta, is the trustee appointed for
the Company's Notice of Intention to Make a Proposal under the
Bankruptcy and Insolvency Act (Canada).  
About Poynt Corporation  
Poynt Corp. (about.poynt.com) (TSX VENTURE:PYN) is a global leader in
the mobile local advertising space. Its Location Based Search (LBS)
and advertising platform, Poynt (www.poynt.com), enhances a user's
ability to connect with the people, businesses and events most
important to them. Poynt is available on Android, iPhone, Windows
Phone and Nokia devices, along with BlackBerry smartphones and
BlackBerry PlayBook Tablets in Canada, the United States, Europe,
India and Australia. Poynt Corp. entered the mobile publishing space
with the acquisition of an advertising publishing platform in January
2011. Whether through the Poynt Local Search Platform or the Ad
Publishing Platform, Poynt Corp. simplifies connecting consumers with
businesses, retailers and events. Headquartered in Calgary, AB,
Canada, Poynt Corp. trades on the TSX Venture Exchange under the
symbol "PYN". 
Reader Advisory: The press release may contain certain forward
looking statements which may include plans, expectations, forecasts,
projections, guidance or other statements that are not statements of
fact, including, without limitation, meeting the terms, conditions
and approval requirements under its creditor protect
ion; the effect
of DIP financings on Poynt Corp.'s ability to continue operations
while under creditor protection; the terms of additional DIP
financings; the Company's strategic plans; the Company's ability to
obtain additional DIP financings; and the Company's long-term
business plan and the expected benefits to be obtained therefrom.
Although Poynt Corp. believes that the expectations reflected in such
forward looking statements are reasonable, it cannot give any
assurance that such expectations will prove to be correct. The effect
of DIP financings and further DIP financings are subject to a number
of conditions and Poynt Corp. cannot give any assurance that such
conditions will be met on a timely basis, or at all, as certain of
the conditions are in the control of other parties. As such, the
future plans and objectives of Poynt Corp. are forward looking
statements that involve risks and uncertainties that may be based on
assumptions that could cause actual results to differ materially from
those anticipated or implied in such statements.  
Material risk factors that could cause actual results to differ
materially from the forward-looking information include, but are not
limited to: risk that the Company will be unable to meet the terms of
its DIP financings; risk that the Company will be unable to obtain
additional DIP financing; risk that the Company will be unable to
meet the terms, conditions and approval requirements under its
creditor protection; inability of Poynt Corp. to fund its
obligations; the deteriorating economic and market conditions that
could lead to reduced spending on information technology products;
competition in the Company's target markets; potential capital needs;
management of future growth and expansion; the development,
implementation and execution of the Company's strategic visions; risk
of third-party claims of infringement; protection of proprietary
information; customer acceptance of the Company's existing and newly
introduced products; the success of brand development efforts; risks
associated with strategic alliances; failure of counterparties to
perform on contracts; failure to successfully negotiate contracts;
failure to successfully negotiate a strategic opportunity; need to
develop new and enhanced products; potential product defects; ability
to hire and retain qualified employees and key management personnel;
risks associated with changes in domestic and international market
conditions and the entry into and development of new markets for the
Company's products; failure to obtain all required regulatory
approvals, including the approval of the TSX Venture Exchange; and
the risks described under "risk factors" in the Company's Annual
Information Form for the year ended December 31, 2010 which is
available on Poynt Corp.'s SEDAR profile (www.sedar.com).  
Although Poynt Corp. has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in the forward looking statements, there may be
other factors that cause actions, events or results to differ from
those anticipated, estimated or intended. In making the forward
looking statements in this press release, Poynt Corp. made, among
others, the following assumptions: that Poynt Corp. will be able to
formulate a suitable creditor proposal in the timelines required
under its creditor protection filing; that Poynt Corp. will be able
to complete a DIP financing under the timelines required by the
Court; that the Company will be able to hire and retain qualified
employees; conditions in general economic and financial markets;
ability to complete a strategic transaction; receipt of all necessary
regulatory approvals; and the ability to obtain financing on
acceptable terms, including Poynt Corp.'s ability to finance its
future commitments.  
Poynt Corp.'s forward-looking statements are expressly qualified in
their entirety by this cautionary statement. Unless otherwise
required by applicable securities laws, Poynt Corp. does not intend,
nor does it undertake any obligation, to update or review any forward
looking statements to reflect subsequent information, events, results
or circumstances or otherwise.  
The BlackBerry and RIM families of related marks, images and symbols
are the exclusive properties and trademarks of Research In Motion
Limited. Apple App Store and iPhone are trademarks of Apple Inc.,
registered in the U.S. and other countries. Windows is a registered
trademark of Microsoft Corporation in the United States and other
countries. Android is a registered trademark of Google Inc. Nokia is
a registered trademark of Nokia Corporation.  
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. 
Contacts:
Poynt Corp.
Andrew Osis
CEO
403-313-3719
www.poynt.com 
North American Public Relations Contact:
Global Results PR for Poynt Corporation
Valerie Christopherson / Asif Husain
949-608-0276
poynt@globalresultspr.com
 
 
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