VANCOUVER, BC —February18th, 2008—Meridex Software Corporation, a leading provider of IP security and facilities management software solutions, is pleased to announce that it has completed a first tranche closing of a non-brokered private placement, raising $298,042.10 by issuing a total of 2,483,684 equity units at a price of $0.12. Each unit consists of one share and one non-transferable share purchase warrant, each warrant entitling the holder to purchase one additional common share of Meridex at the exercise price of $0.20 untilFebruary 15, 2009. These securities are subject to a hold period expiring June 16, 2008.
Gross proceeds will be used to fund research and development for Meridex’ security software platform.
The following insiders participated in the private placement: Matt Dion, President and CEO; Dave Hallmen, Director; Bud Smith, Director; and Bijan Sanii, Director.
ABOUT MERIDEX
Meridex Software Corporation is a leading provider of IP security and facilities management software solutions. Meridex enables educational institutions, government, hospitals, retail and corporate enterprises to manage, monitor, and optimize security and facilities management systems. Specializing in highly-integrated building security, camera monitoring, HVAC and lighting controls that operate based on industry standards, Meridex is developing intelligent IP surveillance and business optimization solutions to enable real-time monitoring systems through wireless networks.
For more information please visit www.meridex.com or contact:
Matt Dion, President and CEO
Meridex Software Corporation
604.763.1994
mdion@meridex.com
© 2008 Meridex Software Corporation. Meridex and the Meridex logo are trademarks or registered trademarks of Meridex Software Corporation. All other trademarks are the property of their respective owners.
Forward Looking Statements
This discussion may contain certain forward-looking statements reflecting the Company’s current expectations and estimates about the markets in which the Company operates and management’s beliefs and assumptions regarding these markets. Investors are cautioned that all forward–looking statements involve risks and uncertainties, including, without limitation, changes in market and competition, technological and competitive developments, potential downturns in general economic conditions, and the potential impact of any mergers, acquisitions or other business combinations or divestitures that may be announced or completed after such statements are made. Additional information on these and other potential factors that could affect the Company’s financial results are included in this discussion and in documents filed from time to time with the provincial securities commissions in Canada.