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Pixman Further Updates on Filing of Annual Financial Statements

^{Published on 2009-12-22 14:10:15 - Market Wire}
 

MONTREAL, QUEBEC--(Marketwire - Dec. 22, 2009) - Pixman Nomadic Media Inc. (TSX VENTURE:PMN) ("Pixman" or "the Corporation") further updates on the delay in filing its annual audited financial statements, management discussion and analysis for the financial year ended June 30, 2009, as well as corresponding certifications (the "Annual Documents") and, in addition, of is financial statements and management discussion and analysis for the three-month interim period ended September 30, 2009 as well as corresponding certifications (the "Interim Documents").

Management of the Corporation continues to devote its energy and resources on the restructuring previously announced October 7, 2009, as well as on its recapitalization and development of its new mobile device applications. Let us remind the reader that temporary lay off made in furtherance of the restructuring have reduced the staff available for the preparation of financial statements to a minimum. The Corporation now expects to be able to file the Annual and Interim Documents during the month of January 2010.

As of this day, trading of the Corporation's shares on the TSX Venture Exchange is consequently still suspended.

Forward-Looking Statements

This press release contains forward-looking statements. Words such as "can," "have," "should," "anticipate," "believe," "project," "estimate," "plan," "continue" or similar expressions are intended to identify forward-looking statements. These statements are about future and uncertain events and are based on current expectations and assumptions of the management based on currently available information to the management. Pixman cautions the reader that these assumptions regarding future events, many of which are beyond the control of management, may ultimately prove to be incorrect. Factors that could cause actual results to differ materially from those contemplated in forward looking statements include risks associated with economic conditions, risks associated with Pixman's business environment, and operational risk. These forward-looking statements are made as of the date hereof and Pixman disclaims any intention or undertaking to update or revise any forward-looking statements, even as a result of future events or otherwise, except as required by applicable law.

Neither TSX Venture Exchange nor its Regulatory 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.