ForceLogix, Inc. Announces Completion of Toronto Stock Exchange TSXV: FLT Share Exchange
Transaction and Related Financing
Date: December 16, 2009
ForceLogix, Inc. (the “Company”) which provides consulting and software solutions in the area of sales
performance management is pleased to announce the closing of a share exchange transaction with
Courtland Capital Corp. (“Courtland”) on November 30, 2009. Courtland is listed as CTK.P-V on the
TSX Venture Exchange.
On August 28, 2009, the Company, all of its shareholders and Courtland entered into an amended and
restated share exchange agreement whereunder the shareholders of the Company exchanged their shares
for the issuance of 51,000,000 special warrants of Courtland (the “Exchange Transaction”).
Messrs. Patrick Stakenas and Stephen Potts were appointed to the board of directors of Courtland.
Patrick Stakenas, William Butrym, Stephen Potts, Troy Wing and Tim Hackett were appointed as
President and Chief Executive Officer, Chief Financial Officer, Senior Vice President, Chief Technology
Officer and Vice President, Sales, respectively.
Immediately following the closing of the Exchange Transaction, Courtland closed a brokered-financing
(the “Financing”) by issuing 20,061,875 units (the “Units”) for gross proceeds of $2,006,187.50. The
agent of the private placement received options to acquire common shares of Courtland at a price of $0.10
per share until November 30, 2011 and a corporate finance fee of $30,000.
Courtland also closed a non-brokered private placement (the “Private Placement”) of 1,300,000 Units for
gross proceeds of $130,000, of which principals of Courtland subscribed for 300,000 Units. 2,107,000 of
the aggregate Units subscribed for under the Financing and the Private Placement are subject to a fourmonth
hold period.
In connection with the closings of the Exchange Transaction and the Financing, Courtland granted
3,000,000 options to persons eligible under the stock option plan at an exercise price of $0.10 per
common share which options expire five years from the date of grant.
Courtland has taken corporate action to change its name to Forcelogix Technologies Inc. and its stock
ticker symbol to “FLT”. Courtland is in the process of filing final documents concerning the Exchange
Transaction and Financing with the Exchange. Upon receiving final approval of the Exchange
Transaction from the Exchange, Courtland will be a software-as-a-service provider operating under the
name ForceLogix Technologies Inc. with the new stock symbol of “FLT”.
Following the Exchange Transaction, the Financing and the Private Placement, ForceLogix Technologies,
Inc. has 42,361,873 issued and outstanding Common Shares and 35,000,000 non-exercised special
warrants.
ForceLogix Technologies, Inc. currently anticipates closing an additional private placement on or about
December 18, 2009 for maximum gross proceeds of $700,000.
For further information please contact Mr. Patrick Stakenas, President and Chief Executive Officer of ForceLogix
Technologies Inc. at (847) 281-9307.
This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy
securities, in any jurisdiction. 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
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