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Vancouver, BC, September 15, 2008 - VendTek
Systems Inc. (TSX-V: VSI) ("VendTek" or "The
Company"), a leading provider of automated transaction
systems software, is pleased to announce that Privinvest
Holding SAL ("Privinvest") has acquired more
than 9% of VendTek's common shares.
The Company had previously announced that it had entered
into a joint venture agreement with Privinvest to license
the Company's proprietary e-Fresh™ software in
the Middle East and North Africa ("MENA").
The shares were purchased in the market and not issued
from treasury. Privinvest is now VendTek's second largest
single shareholder.
Doug Buchanan, President and Chief Executive Officer
of VendTek, said, "Privinvest has witnessed the
opportunities for our business firsthand in the MENA
region and their recent share purchases display their
confidence in our prospects for those markets. I am
very proud to say that one of our largest customers
is now also one of our largest shareholders."
For more information please contact Samantha Haynes
at 604-805-4653 or 1-800-806-4958 or investment@vendteksystems.com.
About Privinvest Holding SAL
Privinvest Holding SAL is a Lebanese holding company
having investments in high technology corporations in
Europe and the Middle East. Privinvest is focussing
on implementing electronic distribution networks in
the Middle East, Africa and the Asian countries, and
working on building up an association with VendTek concerning
those regions.
About VendTek
VendTek develops and licenses automated transaction
system software and supporting technologies that improve
the efficiency of product delivery, reduce costs to
clients and offer superior safety measures. VendTek's
customers and its division, Now Prepay, and its subsidiaries
are using e-Fresh™ software to build electronic,
prepaid services networks, which enable consumers to
purchase prepaid services via POS and self-serve terminals
connected to a central e-Fresh™ server. This system
creates significant value through improved efficiencies
compared to the traditional distribution paradigm. e-Fresh™
reduces shrinkage and inventory requirements while improving
consumer access to prepaid services by completely eliminating
physical cards and vouchers. For further information
please visit the Company's websites www.vendteksys.com
and www.nowprepay.com.
The TSX Venture Exchange has not reviewed and does
not accept responsibility for the adequacy or accuracy
of this release.
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